Shell Asset Management Co. Lowers Stock Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

Shell Asset Management Co. lowered its position in Casey’s General Stores, Inc. (NASDAQ:CASYGet Rating) by 12.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,769 shares of the company’s stock after selling 409 shares during the period. Shell Asset Management Co.’s holdings in Casey’s General Stores were worth $549,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Versor Investments LP purchased a new stake in shares of Casey’s General Stores in the first quarter valued at about $213,000. WealthPLAN Partners LLC grew its position in Casey’s General Stores by 13.5% during the first quarter. WealthPLAN Partners LLC now owns 62,312 shares of the company’s stock valued at $12,543,000 after buying an additional 7,424 shares during the period. FDx Advisors Inc. grew its position in Casey’s General Stores by 22.7% during the first quarter. FDx Advisors Inc. now owns 2,463 shares of the company’s stock valued at $488,000 after buying an additional 455 shares during the period. FSB Premier Wealth Management Inc. grew its position in Casey’s General Stores by 2.2% during the first quarter. FSB Premier Wealth Management Inc. now owns 2,607 shares of the company’s stock valued at $538,000 after buying an additional 57 shares during the period. Finally, Mutual of America Capital Management LLC grew its position in Casey’s General Stores by 2.0% during the first quarter. Mutual of America Capital Management LLC now owns 33,837 shares of the company’s stock valued at $6,705,000 after buying an additional 656 shares during the period. Hedge funds and other institutional investors own 84.44% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CASY. Benchmark began coverage on shares of Casey’s General Stores in a research report on Monday, July 18th. They set a “buy” rating and a $230.00 price target for the company. Royal Bank of Canada reduced their price target on shares of Casey’s General Stores from $250.00 to $238.00 in a research report on Wednesday, June 8th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Casey’s General Stores from $259.00 to $255.00 and set a “buy” rating for the company in a research report on Wednesday, June 22nd. StockNews.com upgraded shares of Casey’s General Stores from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 11th. Finally, Wells Fargo & Company started coverage on shares of Casey’s General Stores in a research report on Wednesday, May 25th. They set an “overweight” rating and a $240.00 target price for the company. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Casey’s General Stores currently has a consensus rating of “Buy” and a consensus price target of $241.43.

Casey’s General Stores Trading Down 0.9 %

Shares of Casey’s General Stores stock opened at $203.78 on Wednesday. Casey’s General Stores, Inc. has a 12-month low of $170.82 and a 12-month high of $216.40. The company has a market cap of $7.59 billion, a price-to-earnings ratio of 22.42 and a beta of 0.82. The company has a current ratio of 0.80, a quick ratio of 0.36 and a debt-to-equity ratio of 0.74. The company’s 50-day moving average price is $196.13 and its 200-day moving average price is $194.97.

Casey’s General Stores (NASDAQ:CASYGet Rating) last announced its quarterly earnings results on Tuesday, June 7th. The company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.06. Casey’s General Stores had a net margin of 2.62% and a return on equity of 15.84%. The firm had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same period in the prior year, the firm posted $1.12 earnings per share. The company’s revenue for the quarter was up 45.4% on a year-over-year basis. On average, equities analysts expect that Casey’s General Stores, Inc. will post 8.7 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Monday, August 1st will be paid a $0.38 dividend. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.35. This represents a $1.52 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Friday, July 29th. Casey’s General Stores’s dividend payout ratio (DPR) is currently 16.72%.

Casey’s General Stores Profile

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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 a selection of food, including freshly prepared foods, such as pizza, donuts, and sandwiches; beverages; tobacco and nicotine products; health and beauty aids; automotive products; and other nonfood items.

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Institutional Ownership by Quarter for Casey's General Stores (NASDAQ:CASY)

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