AdvisorNet Financial Inc Grows Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

AdvisorNet Financial Inc lifted its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 10.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 317 shares of the company’s stock after buying an additional 29 shares during the quarter. AdvisorNet Financial Inc’s holdings in Casey’s General Stores were worth $121,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Rise Advisors LLC acquired a new position in shares of Casey’s General Stores during the 1st quarter worth approximately $30,000. Park Place Capital Corp acquired a new position in Casey’s General Stores in the 2nd quarter valued at $31,000. Advisors Asset Management Inc. acquired a new position in Casey’s General Stores in the 1st quarter valued at $32,000. V Square Quantitative Management LLC acquired a new position in Casey’s General Stores in the 4th quarter valued at $35,000. Finally, Bank & Trust Co acquired a new position in Casey’s General Stores in the 2nd quarter valued at $40,000. 85.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CASY shares. Deutsche Bank Aktiengesellschaft increased their price objective on Casey’s General Stores from $420.00 to $444.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Wells Fargo & Company raised their target price on Casey’s General Stores from $340.00 to $415.00 and gave the stock an “overweight” rating in a research note on Thursday, June 13th. Benchmark reaffirmed a “buy” rating and issued a $410.00 target price on shares of Casey’s General Stores in a research note on Wednesday, July 24th. Northcoast Research raised Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $410.00 target price for the company in a research note on Thursday, July 11th. Finally, StockNews.com downgraded Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 3rd. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $410.22.

Casey’s General Stores Trading Up 3.2 %

NASDAQ CASY traded up $11.54 during trading on Thursday, hitting $377.85. The stock had a trading volume of 301,671 shares, compared to its average volume of 284,109. The company has a market capitalization of $14.02 billion, a PE ratio of 28.06, a PEG ratio of 2.81 and a beta of 0.80. The company has a quick ratio of 0.42, a current ratio of 0.87 and a debt-to-equity ratio of 0.52. The firm has a 50 day moving average price of $371.99 and a 200 day moving average price of $331.82. Casey’s General Stores, Inc. has a twelve month low of $238.44 and a twelve month high of $401.07.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Tuesday, June 11th. The company reported $2.34 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.64. Casey’s General Stores had a return on equity of 17.25% and a net margin of 3.38%. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the previous year, the company posted $1.49 EPS. Casey’s General Stores’s revenue was up 8.2% compared to the same quarter last year. As a group, equities research analysts forecast that Casey’s General Stores, Inc. will post 14 earnings per share for the current year.

Casey’s General Stores Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, August 1st. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.43. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.53%. Casey’s General Stores’s payout ratio is currently 14.89%.

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.