Bank & Trust Co Takes Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

Bank & Trust Co bought a new position in Casey’s General Stores, Inc. (NASDAQ:CASY) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 104 shares of the company’s stock, valued at approximately $40,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in Casey’s General Stores during the 4th quarter valued at about $115,799,000. Congress Asset Management Co. MA bought a new stake in Casey’s General Stores in the first quarter valued at approximately $112,081,000. Point72 Asset Management L.P. boosted its stake in shares of Casey’s General Stores by 561.7% during the fourth quarter. Point72 Asset Management L.P. now owns 273,168 shares of the company’s stock valued at $75,050,000 after purchasing an additional 231,887 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Casey’s General Stores by 113.0% in the first quarter. Principal Financial Group Inc. now owns 291,838 shares of the company’s stock worth $92,936,000 after purchasing an additional 154,803 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its stake in shares of Casey’s General Stores by 1,044.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 117,974 shares of the company’s stock worth $32,412,000 after buying an additional 107,662 shares during the period. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Stock Up 0.5 %

Shares of CASY traded up $1.86 on Tuesday, reaching $373.73. The stock had a trading volume of 232,281 shares, compared to its average volume of 289,348. 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 12-month low of $238.44 and a 12-month high of $401.07. The firm has a market capitalization of $13.87 billion, a price-to-earnings ratio of 28.11, a price-to-earnings-growth ratio of 2.81 and a beta of 0.80. The company has a 50-day simple moving average of $366.11 and a 200-day simple moving average of $327.84.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Tuesday, June 11th. The company reported $2.34 EPS for the quarter, beating the consensus estimate of $1.70 by $0.64. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.47 billion. Casey’s General Stores had a return on equity of 17.25% and a net margin of 3.38%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.49 earnings per share. Sell-side analysts predict that Casey’s General Stores, Inc. will post 14 EPS for the current year.

Casey’s General Stores Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be paid a dividend of $0.50 per share. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.54%. Casey’s General Stores’s dividend payout ratio (DPR) is currently 14.89%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CASY shares. Wells Fargo & Company raised their price target 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. Royal Bank of Canada reissued a “sector perform” rating and issued a $393.00 target price on shares of Casey’s General Stores in a research note on Monday, July 29th. BMO Capital Markets upped their price target on Casey’s General Stores from $305.00 to $400.00 and gave the company a “market perform” rating in a research report on Thursday, June 13th. StockNews.com lowered Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Northcoast Research raised Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $410.00 target price on the stock in a research note on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Casey’s General Stores has a consensus rating of “Moderate Buy” and a consensus price target of $410.22.

Casey’s General Stores Profile

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.