Oak Ridge Investments LLC Invests $658,000 in Casey’s General Stores, Inc. (NASDAQ:CASY)

Oak Ridge Investments LLC bought a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) during the second quarter, Holdings Channel reports. The institutional investor bought 1,724 shares of the company’s stock, valued at approximately $658,000.

Other institutional investors also recently modified their holdings of the company. Rise Advisors LLC bought a new stake in Casey’s General Stores in the 1st quarter valued at about $30,000. Park Place Capital Corp bought a new position in shares of Casey’s General Stores in the 2nd quarter worth $31,000. Advisors Asset Management Inc. acquired a new position in Casey’s General Stores during the first quarter worth $32,000. V Square Quantitative Management LLC bought a new position in shares of Casey’s General Stores in the fourth quarter valued at $35,000. Finally, Bank & Trust Co acquired a new position in shares of Casey’s General Stores during the second quarter valued at about $40,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Evercore ISI raised their price target on shares of Casey’s General Stores from $410.00 to $435.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Jefferies Financial Group raised their price target on shares of Casey’s General Stores from $342.00 to $445.00 and gave the company a “buy” rating in a research report on Wednesday, June 12th. BMO Capital Markets increased their price objective on shares of Casey’s General Stores from $305.00 to $400.00 and gave the company a “market perform” rating in a research note on Thursday, June 13th. Wells Fargo & Company boosted 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. Finally, StockNews.com downgraded Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 3rd. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $410.22.

Casey’s General Stores Stock Performance

Casey’s General Stores stock traded up $13.51 during mid-day trading on Thursday, reaching $379.82. The company’s stock had a trading volume of 180,120 shares, compared to its average volume of 283,335. The firm’s fifty day moving average price is $371.99 and its two-hundred day moving average price is $331.82. 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 company has a market capitalization of $14.10 billion, a P/E ratio of 28.06, a PEG ratio of 2.81 and a beta of 0.80.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Tuesday, June 11th. The company reported $2.34 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the previous year, the firm earned $1.49 EPS. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. Sell-side analysts predict that Casey’s General Stores, Inc. will post 14 EPS for the current fiscal year.

Casey’s General Stores Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.53%. 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. Casey’s General Stores’s dividend payout ratio (DPR) is presently 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.