Advisors Capital Management LLC Raises Stock Holdings in Casey’s General Stores, Inc. $CASY

Advisors Capital Management LLC grew its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 4.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,355 shares of the company’s stock after purchasing an additional 2,026 shares during the quarter. Advisors Capital Management LLC’s holdings in Casey’s General Stores were worth $27,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CASY. Steph & Co. lifted its position in shares of Casey’s General Stores by 2.2% in the third quarter. Steph & Co. now owns 819 shares of the company’s stock valued at $463,000 after acquiring an additional 18 shares in the last quarter. LifeWealth Investments LLC raised its stake in Casey’s General Stores by 2.1% during the 3rd quarter. LifeWealth Investments LLC now owns 858 shares of the company’s stock valued at $485,000 after purchasing an additional 18 shares during the period. AdvisorNet Financial Inc lifted its holdings in Casey’s General Stores by 2.8% in the 3rd quarter. AdvisorNet Financial Inc now owns 724 shares of the company’s stock worth $409,000 after purchasing an additional 20 shares in the last quarter. Panagora Asset Management Inc. boosted its stake in Casey’s General Stores by 0.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 4,147 shares of the company’s stock worth $2,116,000 after purchasing an additional 21 shares during the period. Finally, Eukles Asset Management grew its holdings in Casey’s General Stores by 0.5% during the 3rd quarter. Eukles Asset Management now owns 4,253 shares of the company’s stock valued at $2,404,000 after buying an additional 21 shares in the last quarter. 85.63% of the stock is owned by hedge funds and other institutional investors.

Casey’s General Stores Stock Performance

Shares of Casey’s General Stores stock opened at $661.53 on Wednesday. The company has a current ratio of 1.05, a quick ratio of 0.65 and a debt-to-equity ratio of 0.62. The stock’s fifty day moving average price is $601.13 and its 200-day moving average price is $560.09. The firm has a market cap of $24.52 billion, a P/E ratio of 40.68, a P/E/G ratio of 2.35 and a beta of 0.68. Casey’s General Stores, Inc. has a 12 month low of $372.08 and a 12 month high of $678.67.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Tuesday, December 9th. The company reported $5.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.92 by $0.61. The business had revenue of $4.51 billion for the quarter, compared to the consensus estimate of $4.51 billion. Casey’s General Stores had a return on equity of 16.89% and a net margin of 3.58%.The business’s revenue was up 14.2% compared to the same quarter last year. During the same period last year, the business posted $4.85 EPS. On average, equities research analysts expect that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Sunday, February 1st were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Friday, January 30th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.3%. Casey’s General Stores’s payout ratio is 14.02%.

Insider Activity

In other news, Director Moats Maria Castanon acquired 300 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were acquired at an average cost of $554.66 per share, with a total value of $166,398.00. Following the completion of the acquisition, the director owned 803 shares of the company’s stock, valued at approximately $445,391.98. This trade represents a 59.64% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CASY has been the topic of several research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Casey’s General Stores in a research note on Monday, December 29th. Bank of America initiated coverage on Casey’s General Stores in a report on Friday, January 9th. They issued a “buy” rating on the stock. Royal Bank Of Canada reissued a “sector perform” rating and set a $662.00 price target on shares of Casey’s General Stores in a research note on Friday, January 23rd. UBS Group restated a “neutral” rating on shares of Casey’s General Stores in a report on Thursday, December 11th. Finally, Evercore upped their price objective on Casey’s General Stores from $585.00 to $610.00 and gave the stock an “outperform” rating in a report on Tuesday, December 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Casey’s General Stores currently has an average rating of “Moderate Buy” and an average price target of $615.50.

Casey’s General Stores Company Profile

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.