Casey’s General Stores, Inc. $CASY Stock: Riverbridge Partners LLC Boosts Position

Riverbridge Partners LLC increased its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 7.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 16,317 shares of the company’s stock after acquiring an additional 1,093 shares during the period. Riverbridge Partners LLC’s holdings in Casey’s General Stores were worth $9,928,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Daiichi Life Insurance Co. Ltd. purchased a new position in shares of Casey’s General Stores in the second quarter valued at approximately $1,222,000. National Pension Service grew its holdings 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 purchasing an additional 65,383 shares in the last quarter. NEOS Investment Management LLC acquired a new position in shares of Casey’s General Stores in the second quarter valued at approximately $4,602,000. Teachers Retirement System of The State of Kentucky increased its stake in Casey’s General Stores by 52.0% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 17,079 shares of the company’s stock worth $12,431,000 after buying an additional 5,846 shares during the period. Finally, Jefferies Financial Group Inc. purchased a new stake in Casey’s General Stores during the 2nd quarter worth approximately $15,114,000. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Casey’s General Stores Stock Performance

Shares of CASY opened at $698.48 on Wednesday. The stock has a 50-day simple moving average of $656.31 and a 200-day simple moving average of $741.71. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.61 and a current ratio of 1.02. The stock has a market capitalization of $25.82 billion, a PE ratio of 33.65, a PEG ratio of 2.24 and a beta of 0.59. Casey’s General Stores, Inc. has a 1 year low of $529.84 and a 1 year high of $927.85.

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

Casey’s General Stores Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CASY shares. Royal Bank Of Canada upgraded shares of Casey’s General Stores from a “sector perform” rating to an “outperform” rating and reduced their target price for the stock from $910.00 to $825.00 in a report on Thursday, October 15th. Wall Street Zen downgraded shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a research note on Saturday, September 12th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $933.00 price target on shares of Casey’s General Stores in a research note on Thursday, September 10th. BMO Capital Markets set a $810.00 price objective on Casey’s General Stores in a research report on Thursday, September 10th. Finally, Stephens set a $750.00 price objective on Casey’s General Stores in a research note on Thursday, September 10th. Sixteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Casey’s General Stores has an average rating of “Moderate Buy” and an average price target of $835.38.

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.