Global Retirement Partners LLC grew its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY – Free Report) by 49.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 124 shares of the company’s stock after acquiring an additional 41 shares during the quarter. Global Retirement Partners LLC’s holdings in Casey’s General Stores were worth $30,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Casey’s General Stores by 0.7% in the third quarter. Vanguard Group Inc. now owns 3,734,566 shares of the company’s stock valued at $756,324,000 after purchasing an additional 25,687 shares in the last quarter. BlackRock Inc. raised its stake in Casey’s General Stores by 2.1% in the first quarter. BlackRock Inc. now owns 3,287,615 shares of the company’s stock valued at $711,637,000 after purchasing an additional 68,495 shares in the last quarter. State Street Corp raised its stake in Casey’s General Stores by 4.4% in the third quarter. State Street Corp now owns 1,432,889 shares of the company’s stock valued at $290,189,000 after purchasing an additional 60,487 shares in the last quarter. Clearbridge Investments LLC raised its stake in Casey’s General Stores by 0.3% in the first quarter. Clearbridge Investments LLC now owns 1,262,198 shares of the company’s stock valued at $273,215,000 after purchasing an additional 4,229 shares in the last quarter. Finally, Morgan Stanley raised its stake in Casey’s General Stores by 430.5% in the fourth quarter. Morgan Stanley now owns 1,141,475 shares of the company’s stock valued at $256,090,000 after purchasing an additional 926,324 shares in the last quarter. Institutional investors own 85.43% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently commented on CASY. Benchmark reaffirmed a “buy” rating and issued a $275.00 price target on shares of Casey’s General Stores in a research note on Tuesday, September 12th. Stephens reaffirmed an “overweight” rating and issued a $280.00 price target on shares of Casey’s General Stores in a research note on Tuesday, September 12th. Credit Suisse Group raised Casey’s General Stores from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $235.00 to $285.00 in a research note on Tuesday, July 18th. Royal Bank of Canada boosted their target price on Casey’s General Stores from $275.00 to $284.00 and gave the stock a “sector perform” rating in a research note on Tuesday, September 12th. Finally, StockNews.com started coverage on Casey’s General Stores in a research note on Thursday. They set a “buy” rating for the company. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Casey’s General Stores currently has a consensus rating of “Moderate Buy” and an average price target of $273.11.
Casey’s General Stores Stock Performance
NASDAQ:CASY opened at $269.69 on Friday. The stock has a market cap of $10.05 billion, a P/E ratio of 21.84, a price-to-earnings-growth ratio of 2.34 and a beta of 0.79. The company has a current ratio of 1.09, a quick ratio of 0.64 and a debt-to-equity ratio of 0.58. The stock’s 50-day moving average is $256.64 and its 200-day moving average is $239.32. Casey’s General Stores, Inc. has a 1-year low of $197.61 and a 1-year high of $284.18.
Casey’s General Stores (NASDAQ:CASY – Get Free Report) last released its quarterly earnings results on Tuesday, September 12th. The company reported $4.52 earnings per share for the quarter, topping the consensus estimate of $3.36 by $1.16. The company had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.90 billion. Casey’s General Stores had a return on equity of 17.10% and a net margin of 3.19%. The business’s quarterly revenue was down 13.1% compared to the same quarter last year. During the same period in the previous year, the business posted $4.09 earnings per share. Equities research analysts anticipate that Casey’s General Stores, Inc. will post 11.46 earnings per share for the current year.
Casey’s General Stores Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Tuesday, October 31st. Casey’s General Stores’s dividend payout ratio (DPR) is currently 13.93%.
About Casey’s General Stores
Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.
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