Dillon & Associates Inc. Boosts Stake in Casey’s General Stores, Inc. (NASDAQ:CASY)

Dillon & Associates Inc. lifted its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 505.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,283 shares of the company’s stock after purchasing an additional 7,750 shares during the quarter. Dillon & Associates Inc.’s holdings in Casey’s General Stores were worth $3,676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Cannon Global Investment Management LLC purchased a new position in shares of Casey’s General Stores in the fourth quarter worth $951,000. Vanguard Group Inc. increased its position in Casey’s General Stores by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 3,799,104 shares of the company’s stock valued at $1,505,319,000 after acquiring an additional 44,295 shares during the last quarter. Stevens Capital Management LP purchased a new stake in Casey’s General Stores during the fourth quarter valued at $307,000. LPL Financial LLC increased its position in Casey’s General Stores by 15.8% during the fourth quarter. LPL Financial LLC now owns 79,483 shares of the company’s stock valued at $31,459,000 after acquiring an additional 10,853 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in Casey’s General Stores during the fourth quarter valued at $3,091,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Stock Performance

NASDAQ CASY opened at $404.00 on Monday. The firm has a market cap of $15.00 billion, a price-to-earnings ratio of 28.15, a price-to-earnings-growth ratio of 2.40 and a beta of 0.87. The company has a quick ratio of 0.49, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. The business has a 50-day moving average price of $410.20 and a 200-day moving average price of $401.45. Casey’s General Stores, Inc. has a twelve month low of $306.45 and a twelve month high of $445.17.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Tuesday, March 11th. The company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.57. The firm had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.74 billion. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The business’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.33 earnings per share. As a group, equities research analysts predict that Casey’s General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.50%. Casey’s General Stores’s dividend payout ratio is currently 13.94%.

Wall Street Analyst Weigh In

A number of analysts recently commented on CASY shares. Gordon Haskett upgraded Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. BMO Capital Markets reiterated a “market perform” rating and set a $450.00 price objective (up previously from $400.00) on shares of Casey’s General Stores in a research report on Wednesday, December 18th. Royal Bank of Canada set a $438.00 price objective on Casey’s General Stores and gave the company a “sector perform” rating in a research report on Wednesday, March 12th. Evercore ISI reduced their price objective on Casey’s General Stores from $460.00 to $450.00 and set an “outperform” rating for the company in a research report on Tuesday, March 11th. Finally, StockNews.com lowered Casey’s General Stores from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $423.09.

Insider Buying and Selling

In other news, Director Mike Spanos bought 256 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average cost of $390.54 per share, for a total transaction of $99,978.24. Following the completion of the transaction, the director now owns 3,356 shares of the company’s stock, valued at approximately $1,310,652.24. This represents a 8.26 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.56% of the stock is owned by company insiders.

Casey’s General Stores Profile

Casey’s General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.