Kera Capital Partners Inc. Buys New Stake in Casey’s General Stores, Inc. $CASY

Kera Capital Partners Inc. bought a new position in Casey’s General Stores, Inc. (NASDAQ:CASY) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 851 shares of the company’s stock, valued at approximately $516,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Foster Dykema Cabot & Partners LLC purchased a new stake in shares of Casey’s General Stores during the third quarter worth about $25,000. True Wealth Design LLC raised its holdings in Casey’s General Stores by 350.0% in the fourth quarter. True Wealth Design LLC now owns 54 shares of the company’s stock valued at $30,000 after acquiring an additional 42 shares in the last quarter. Central Pacific Bank Trust Division raised its holdings in Casey’s General Stores by 52.8% in the fourth quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock valued at $30,000 after acquiring an additional 19 shares in the last quarter. Vermillion & White Wealth Management Group LLC bought a new position in Casey’s General Stores during the 3rd quarter valued at $35,000. Finally, ORG Partners LLC boosted its stake in Casey’s General Stores by 47.6% during the 4th quarter. ORG Partners LLC now owns 62 shares of the company’s stock valued at $34,000 after acquiring an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Price Performance

Shares of NASDAQ:CASY opened at $842.25 on Friday. The stock has a market capitalization of $31.13 billion, a price-to-earnings ratio of 43.96, a price-to-earnings-growth ratio of 2.55 and a beta of 0.61. Casey’s General Stores, Inc. has a 1-year low of $490.00 and a 1-year high of $927.85. The company’s fifty day moving average is $812.00 and its two-hundred day moving average is $695.95. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 1.01.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.31 by $1.06. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.33 billion. During the same period last year, the firm posted $2.63 EPS. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. Equities analysts anticipate that Casey’s General Stores, Inc. will post 20.9 EPS for the current year.

Casey’s General Stores Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Saturday, August 1st will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.3%. This is a positive change 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 currently 11.90%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CASY. UBS Group boosted their target price on shares of Casey’s General Stores from $805.00 to $945.00 and gave the stock a “neutral” rating in a research report on Thursday, June 11th. Wolfe Research reaffirmed an “outperform” rating and set a $1,069.00 price target on shares of Casey’s General Stores in a research report on Thursday, June 11th. Zacks Research downgraded Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. JPMorgan Chase & Co. boosted their price objective on Casey’s General Stores from $719.00 to $975.00 and gave the company a “neutral” rating in a report on Friday, June 12th. Finally, Stephens set a $975.00 price objective on Casey’s General Stores and gave the company an “overweight” rating in a research note on Friday, June 12th. Eleven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $925.25.

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.