Union Savings Bank Purchases New Position in Casey’s General Stores, Inc. $CASY

Union Savings Bank purchased a new stake in Casey’s General Stores, Inc. (NASDAQ:CASY) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 995 shares of the company’s stock, valued at approximately $550,000.

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

Casey’s General Stores Stock Performance

CASY opened at $842.25 on Friday. The firm’s fifty day simple moving average is $812.00 and its two-hundred day simple moving average is $695.95. Casey’s General Stores, Inc. has a 52-week low of $490.00 and a 52-week high of $927.85. The company has a market cap of $31.13 billion, a price-to-earnings ratio of 43.96, a PEG ratio of 2.55 and a beta of 0.61. 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 earnings results on Tuesday, June 9th. The company reported $4.37 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 business had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.33 billion. During the same quarter in the previous year, the company earned $2.63 earnings per share. The company’s quarterly revenue was up 14.5% on a year-over-year basis. Equities analysts anticipate that Casey’s General Stores, Inc. will post 20.9 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

The company 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 $0.65 dividend. The ex-dividend date of this dividend is Friday, July 31st. 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. Casey’s General Stores’s dividend payout ratio is currently 11.90%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CASY shares. JPMorgan Chase & Co. lifted their price objective on shares of Casey’s General Stores from $719.00 to $975.00 and gave the company a “neutral” rating in a report on Friday, June 12th. Wells Fargo & Company raised their target price on Casey’s General Stores from $910.00 to $960.00 and gave the company an “overweight” rating in a research report on Thursday, June 11th. Wall Street Zen upgraded Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Morgan Stanley raised Casey’s General Stores to a “buy” rating in a report on Wednesday, June 10th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $695.00 price target on shares of Casey’s General Stores in a research report on Wednesday, June 10th. Eleven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Casey’s General Stores 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.