Arax Advisory Partners Decreases Holdings in Casey’s General Stores, Inc. $CASY

Arax Advisory Partners cut its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 25.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,759 shares of the company’s stock after selling 952 shares during the quarter. Arax Advisory Partners’ holdings in Casey’s General Stores were worth $1,525,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in shares of Casey’s General Stores by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 760,438 shares of the company’s stock worth $420,416,000 after acquiring an additional 52,250 shares in the last quarter. North Dakota State Investment Board purchased a new position in shares of Casey’s General Stores during the fourth quarter worth approximately $720,000. Jackson Creek Investment Advisors LLC purchased a new position in shares of Casey’s General Stores during the fourth quarter worth approximately $1,338,000. Advisors Capital Management LLC grew its holdings in shares of Casey’s General Stores by 4.4% in the third quarter. Advisors Capital Management LLC now owns 48,355 shares of the company’s stock worth $27,336,000 after purchasing an additional 2,026 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Casey’s General Stores by 2.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 140,491 shares of the company’s stock worth $77,651,000 after purchasing an additional 3,553 shares during the last quarter. 85.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CASY has been the topic of several recent analyst reports. BMO Capital Markets raised their target price on shares of Casey’s General Stores from $700.00 to $950.00 and gave the stock a “market perform” rating in a report on Thursday. Royal Bank Of Canada raised their target price on shares of Casey’s General Stores from $792.00 to $794.00 and gave the stock a “sector perform” rating in a report on Wednesday, June 10th. Wells Fargo & Company raised their target price on shares of Casey’s General Stores from $910.00 to $960.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. Jefferies Financial Group raised their target price on shares of Casey’s General Stores from $700.00 to $780.00 and gave the stock a “buy” rating in a report on Tuesday, March 10th. Finally, KeyCorp raised their target price on shares of Casey’s General Stores from $950.00 to $970.00 and gave the stock an “overweight” rating in a report on Thursday. Eleven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $925.25.

Casey’s General Stores Stock Performance

NASDAQ:CASY opened at $872.39 on Tuesday. The stock has a market cap of $32.24 billion, a P/E ratio of 45.53, a price-to-earnings-growth ratio of 2.93 and a beta of 0.61. The firm’s fifty day simple moving average is $803.81 and its 200 day simple moving average is $688.97. Casey’s General Stores, Inc. has a twelve month low of $490.00 and a twelve month high of $927.85. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, beating the consensus estimate of $3.31 by $1.06. The business had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.33 billion. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.63 earnings per share. As a group, research analysts predict that Casey’s General Stores, Inc. will post 20.51 EPS for the current year.

Casey’s General Stores Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Saturday, August 1st will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.3%. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, July 31st. Casey’s General Stores’s dividend payout ratio (DPR) is presently 11.90%.

Casey’s General Stores 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.