Diversify Advisory Services LLC Makes New Investment in Casey’s General Stores, Inc. (NASDAQ:CASY)

Diversify Advisory Services LLC purchased a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,064 shares of the company’s stock, valued at approximately $651,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new position in Casey’s General Stores during the first quarter worth about $30,000. BKM Wealth Management LLC bought a new position in Casey’s General Stores during the fourth quarter worth about $29,000. V Square Quantitative Management LLC bought a new position in Casey’s General Stores during the fourth quarter worth about $35,000. McGlone Suttner Wealth Management Inc. bought a new position in Casey’s General Stores during the fourth quarter worth about $36,000. Finally, ICA Group Wealth Management LLC bought a new position in Casey’s General Stores during the fourth quarter worth about $41,000. Institutional investors own 85.63% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Royal Bank of Canada raised their price objective on shares of Casey’s General Stores from $322.00 to $361.00 and gave the stock a “sector perform” rating in a report on Wednesday, June 12th. Wells Fargo & Company raised their price objective on shares of Casey’s General Stores from $340.00 to $415.00 and gave the stock an “overweight” rating in a report on Thursday, June 13th. StockNews.com lowered shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 20th. BMO Capital Markets raised their price objective on shares of Casey’s General Stores from $305.00 to $400.00 and gave the stock a “market perform” rating in a report on Thursday, June 13th. Finally, Jefferies Financial Group raised their price target on shares of Casey’s General Stores from $342.00 to $445.00 and gave the company a “buy” rating in a report on Wednesday, June 12th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $380.11.

Casey’s General Stores Trading Down 0.2 %

CASY traded down $0.90 during trading on Friday, reaching $369.36. 261,201 shares of the company’s stock were exchanged, compared to its average volume of 385,712. The company’s fifty day moving average price is $346.86 and its 200-day moving average price is $312.90. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.87. Casey’s General Stores, Inc. has a fifty-two week low of $238.44 and a fifty-two week high of $389.43. The firm has a market capitalization of $13.71 billion, a PE ratio of 27.50, a P/E/G ratio of 2.68 and a beta of 0.80.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Tuesday, June 11th. The company reported $2.34 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.64. Casey’s General Stores had a net margin of 3.38% and a return on equity of 17.25%. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the previous year, the business earned $1.49 EPS. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, equities analysts forecast that Casey’s General Stores, Inc. will post 14.2 EPS for the current year.

Casey’s General Stores Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.54%. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, August 1st. Casey’s General Stores’s dividend payout ratio (DPR) is currently 12.81%.

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.