Burns J W & Co. Inc. NY Boosts Stake in Casey’s General Stores, Inc. $CASY

Burns J W & Co. Inc. NY grew its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 103.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,448 shares of the company’s stock after acquiring an additional 1,245 shares during the period. Burns J W & Co. Inc. NY’s holdings in Casey’s General Stores were worth $1,782,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its holdings in Casey’s General Stores by 179,938.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,659,164 shares of the company’s stock valued at $1,469,747,000 after purchasing an additional 2,657,687 shares during the last quarter. Franklin Resources Inc. increased its holdings in Casey’s General Stores by 40.9% during the 4th quarter. Franklin Resources Inc. now owns 1,068,682 shares of the company’s stock worth $590,671,000 after purchasing an additional 310,470 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Casey’s General Stores by 35.4% in the 3rd quarter. Victory Capital Management Inc. now owns 791,415 shares of the company’s stock valued at $447,403,000 after purchasing an additional 206,777 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Casey’s General Stores by 7.4% in the 4th quarter. Geode Capital Management LLC now owns 760,438 shares of the company’s stock valued at $420,416,000 after purchasing an additional 52,250 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Casey’s General Stores by 12.6% during the 4th quarter. Invesco Ltd. now owns 572,152 shares of the company’s stock valued at $316,234,000 after buying an additional 64,154 shares during the last quarter. 85.63% of the stock is owned by hedge funds and other institutional investors.

Casey’s General Stores Price Performance

Shares of NASDAQ CASY opened at $831.89 on Wednesday. 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 current ratio of 1.01, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $30.75 billion, a price-to-earnings ratio of 43.42, a price-to-earnings-growth ratio of 2.52 and a beta of 0.61. The business has a 50 day simple moving average of $815.33 and a 200-day simple moving average of $700.66.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data 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 firm had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter in the previous year, the company posted $2.63 earnings per share. The firm’s revenue was up 14.5% on a year-over-year basis. As a group, equities research analysts expect that Casey’s General Stores, Inc. will post 20.9 earnings per share 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 given a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.3%. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.57. Casey’s General Stores’s payout ratio is currently 13.57%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CASY. JPMorgan Chase & Co. raised their price target on shares of Casey’s General Stores from $719.00 to $975.00 and gave the stock a “neutral” rating in a research report on Friday, June 12th. The Goldman Sachs Group reiterated a “neutral” rating and set a $695.00 price objective on shares of Casey’s General Stores in a research note on Wednesday, June 10th. Morgan Stanley raised shares of Casey’s General Stores to a “buy” rating in a report on Wednesday, June 10th. Wells Fargo & Company boosted 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 research report on Thursday, June 11th. Finally, Wall Street Zen upgraded shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Eleven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $923.00.

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.