1,875 Shares in Casey's General Stores, Inc. $CASY Purchased by New England Research & Management Inc.

Key Points

• New England Research & Management purchased 1,875 Casey’s General Stores shares worth approximately $1.14 million, while institutional investors collectively own 85.63% of the company.
• Analysts maintain a generally positive outlook, with 16 Buy ratings and five Holds, resulting in a “Moderate Buy” consensus and an average price target of $835.38.
• Casey’s shares traded at $689.22, down considerably from their 52-week high, despite the company exceeding quarterly EPS and revenue estimates. The retailer declared a quarterly dividend of $0.65 per share, representing a 0.4% yield.

New England Research & Management Inc. bought a new position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,875 shares of the company's stock, valued at approximately $1,141,000.

Several other institutional investors also recently bought and sold shares of CASY. BlackRock Inc. acquired a new stake in shares of Casey's General Stores during the second quarter worth $2,759,895,000. Bank of America Corp DE purchased a new stake in shares of Casey's General Stores in the second quarter valued at $281,872,000. Bank of New York Mellon Corp purchased a new stake in shares of Casey's General Stores in the second quarter valued at $281,011,000. Jupiter Topco LLC purchased a new stake in shares of Casey's General Stores in the second quarter valued at $246,982,000. Finally, Principal Financial Group Inc. increased its stake in Casey's General Stores by 2.1% in the first quarter. Principal Financial Group Inc. now owns 252,374 shares of the company's stock valued at $183,693,000 after purchasing an additional 5,294 shares during the last quarter. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on CASY. Northcoast Research upgraded Casey's General Stores from a "neutral" rating to a "buy" rating and set a $950.00 target price on the stock in a research report on Monday, July 13th. UBS Group decreased their price target on Casey's General Stores from $925.00 to $720.00 and set a "neutral" rating on the stock in a research note on Thursday, September 10th. Wells Fargo & Company lowered their price target on Casey's General Stores from $960.00 to $750.00 and set an "overweight" rating for the company in a report on Wednesday, September 9th. Capital One Financial assumed coverage on shares of Casey's General Stores in a research note on Monday, June 22nd. They set an "equal weight" rating and a $896.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $933.00 price objective on shares of Casey's General Stores in a research note on Thursday, September 10th. Sixteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $835.38.

Casey's General Stores Trading Up 2.3%

Shares of CASY traded up $15.59 during mid-day trading on Friday, reaching $689.22. The company had a trading volume of 546,278 shares, compared to its average volume of 599,177. The stock has a market cap of $25.47 billion, a price-to-earnings ratio of 33.20, a price-to-earnings-growth ratio of 2.20 and a beta of 0.59. The firm has a fifty day simple moving average of $701.72 and a 200-day simple moving average of $774.35. Casey's General Stores, Inc. has a fifty-two week low of $497.38 and a fifty-two week 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.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings data on Tuesday, September 8th. The company reported $7.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.78 by $0.59. The company had revenue of $5.68 billion during the quarter, compared to analysts' expectations of $5.56 billion. Casey's General Stores had a net margin of 4.14% and a return on equity of 19.68%. The business's quarterly revenue was up 24.3% compared to the same quarter last year. During the same period in the previous year, the company earned $5.77 EPS. On average, sell-side analysts anticipate that Casey's General Stores, Inc. will post 21.43 EPS for the current fiscal year.

Casey's General Stores Announces Dividend

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 given a dividend of $0.65 per share. 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 payout ratio 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.

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