Woodmont Investment Counsel LLC Acquires 1,572 Shares of Casey’s General Stores, Inc. $CASY

Woodmont Investment Counsel LLC acquired a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the third quarter, Holdings Channel.com reports. The fund acquired 1,572 shares of the company’s stock, valued at approximately $956,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kathmere Capital Management LLC increased its stake in Casey’s General Stores by 3.5% in the first quarter. Kathmere Capital Management LLC now owns 387 shares of the company’s stock valued at $282,000 after acquiring an additional 13 shares during the last quarter. Lincoln Capital LLC boosted its holdings in shares of Casey’s General Stores by 4.0% in the 2nd quarter. Lincoln Capital LLC now owns 366 shares of the company’s stock worth $291,000 after purchasing an additional 14 shares in the last quarter. Jag Capital Management LLC increased its position in shares of Casey’s General Stores by 1.0% during the 1st quarter. Jag Capital Management LLC now owns 1,753 shares of the company’s stock valued at $1,276,000 after purchasing an additional 18 shares during the last quarter. Anchor Investment Management LLC increased its position in shares of Casey’s General Stores by 72.0% during the 2nd quarter. Anchor Investment Management LLC now owns 43 shares of the company’s stock valued at $34,000 after purchasing an additional 18 shares during the last quarter. Finally, Renasant Bank raised its holdings in shares of Casey’s General Stores by 5.7% during the 2nd quarter. Renasant Bank now owns 369 shares of the company’s stock valued at $293,000 after buying an additional 20 shares in the last quarter. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CASY has been the subject of a number of recent research reports. Northcoast Research upgraded Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $950.00 target price for the company in a research report on Monday, July 13th. Wells Fargo & Company decreased their price target on shares of Casey’s General Stores from $960.00 to $750.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 9th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $933.00 price target on shares of Casey’s General Stores in a research note on Thursday, September 10th. The Goldman Sachs Group set a $750.00 price objective on shares of Casey’s General Stores in a report on Wednesday, September 9th. Finally, Raymond James Financial raised shares of Casey’s General Stores from a “market perform” rating to an “outperform” rating and set a $750.00 price objective for the company in a research note on Thursday, September 10th. Sixteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $835.38.

Casey’s General Stores Stock Performance

NASDAQ CASY opened at $680.19 on Monday. Casey’s General Stores, Inc. has a 1-year low of $497.38 and a 1-year high of $927.85. The company has a current ratio of 1.02, a quick ratio of 0.61 and a debt-to-equity ratio of 0.57. The stock has a 50-day moving average of $672.65 and a 200-day moving average of $739.73. The firm has a market cap of $25.14 billion, a PE ratio of 32.76, a price-to-earnings-growth ratio of 2.20 and a beta of 0.59.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Tuesday, September 8th. The company reported $7.37 earnings per share for the quarter, beating 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 firm had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.56 billion. During the same quarter in the prior year, the firm posted $5.77 earnings per share. The business’s quarterly revenue was up 24.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Casey’s General Stores, Inc. will post 21.61 EPS for the current year.

Casey’s General Stores Dividend Announcement

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

About Casey’s General Stores

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.