Casey’s General Stores, Inc. $CASY Holdings Lessened by Ethic Inc.

Ethic Inc. lowered its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 23.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,794 shares of the company’s stock after selling 838 shares during the quarter. Ethic Inc.’s holdings in Casey’s General Stores were worth $1,700,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CASY. Daiichi Life Insurance Co. Ltd. acquired a new position in Casey’s General Stores during the second quarter worth $1,222,000. National Pension Service lifted its stake in shares of Casey’s General Stores by 3,138.9% in the second quarter. National Pension Service now owns 67,466 shares of the company’s stock valued at $53,621,000 after buying an additional 65,383 shares in the last quarter. NEOS Investment Management LLC acquired a new position in shares of Casey’s General Stores during the second quarter valued at about $4,602,000. Jefferies Financial Group Inc. acquired a new position in shares of Casey’s General Stores during the second quarter valued at about $15,114,000. Finally, Hsbc Holdings PLC increased its position in shares of Casey’s General Stores by 573.4% during the second quarter. Hsbc Holdings PLC now owns 61,287 shares of the company’s stock worth $48,669,000 after acquiring an additional 52,186 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Stock Performance

Shares of Casey’s General Stores stock opened at $706.63 on Friday. The business’s fifty day simple moving average is $654.32 and its 200 day simple moving average is $742.61. The firm has a market capitalization of $26.12 billion, a P/E ratio of 34.04, a price-to-earnings-growth ratio of 2.31 and a beta of 0.59. Casey’s General Stores, Inc. has a 12 month low of $529.84 and a 12 month high of $927.85. The company has a current ratio of 1.02, a quick ratio of 0.61 and a debt-to-equity ratio of 0.57.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Tuesday, September 8th. The company reported $7.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.78 by $0.59. The firm had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.56 billion. Casey’s General Stores had a return on equity of 19.68% and a net margin of 4.14%. The business’s revenue for the quarter was up 24.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.77 EPS. As a group, analysts anticipate that Casey’s General Stores, Inc. will post 21.61 EPS for the current year.

Casey’s General Stores Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Sunday, November 1st will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, October 30th. Casey’s General Stores’s dividend payout ratio is currently 12.52%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CASY shares. William Blair reaffirmed an “outperform” rating on shares of Casey’s General Stores in a research report on Wednesday, September 16th. UBS Group decreased their price objective on Casey’s General Stores from $925.00 to $720.00 and set a “neutral” rating for the company in a report on Thursday, September 10th. Evercore reissued an “outperform” rating and issued a $775.00 price objective on shares of Casey’s General Stores in a research note on Friday, September 11th. BMO Capital Markets set a $810.00 target price on Casey’s General Stores in a report on Thursday, September 10th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Casey’s General Stores in a research report on Monday, October 19th. Sixteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Casey’s General Stores has a consensus rating of “Moderate Buy” and an average target price of $835.38.

About Casey’s General Stores

Casey’s General Stores, Inc. (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods. The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.