Carnegie Investment Counsel Acquires 2,332 Shares of Casey's General Stores, Inc. $CASY

Key Points

• Carnegie Investment Counsel increased its Casey’s General Stores stake by 6% in the third quarter, adding 2,332 shares to own 41,355 shares valued at approximately $25.2 million. Institutional investors and hedge funds collectively own 85.63% of the company.
• Casey’s exceeded quarterly expectations, reporting $7.37 in EPS versus the $6.78 consensus and $5.68 billion in revenue, up 24.3% year over year. Analysts project $21.61 in EPS for the current fiscal year.
• The company declared a quarterly dividend of $0.65, equivalent to $2.60 annually and a 0.4% yield. Despite mixed analyst actions, Casey’s retains a “Moderate Buy” consensus rating with an average price target of $835.38.

Carnegie Investment Counsel boosted its holdings in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 6.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,355 shares of the company's stock after buying an additional 2,332 shares during the quarter. Carnegie Investment Counsel owned approximately 0.11% of Casey's General Stores worth $25,163,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Miller Financial Services LLC acquired a new stake in shares of Casey's General Stores in the third quarter valued at about $223,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Casey's General Stores by 2.4% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,372 shares of the company's stock worth $3,269,000 after acquiring an additional 126 shares during the last quarter. Capital Square LLC raised its position in shares of Casey's General Stores by 54.3% during the third quarter. Capital Square LLC now owns 1,685 shares of the company's stock worth $1,025,000 after acquiring an additional 593 shares during the last quarter. LexAurum Advisors LLC lifted its stake in shares of Casey's General Stores by 13.1% in the third quarter. LexAurum Advisors LLC now owns 879 shares of the company's stock worth $535,000 after acquiring an additional 102 shares during the period. Finally, First Bank & Trust lifted its stake in shares of Casey's General Stores by 5.8% in the third quarter. First Bank & Trust now owns 1,562 shares of the company's stock worth $950,000 after acquiring an additional 86 shares during the period. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Casey's General Stores Price Performance

CASY stock opened at $684.51 on Wednesday. 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 business has a 50-day simple moving average of $695.60 and a two-hundred day simple moving average of $774.23. The company has a market capitalization of $25.30 billion, a P/E ratio of 32.97, a price-to-earnings-growth ratio of 2.24 and a beta of 0.59. Casey's General Stores, Inc. has a 52-week low of $497.38 and a 52-week high of $927.85.

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

Casey's General Stores Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Sunday, November 1st will be issued a $0.65 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $2.60 annualized dividend and a dividend yield of 0.4%. Casey's General Stores's dividend payout ratio is currently 12.52%.

Analyst Ratings Changes

Several analysts recently commented on the company. UBS Group reduced their target price on Casey's General Stores from $925.00 to $720.00 and set a "neutral" rating on the stock in a report on Thursday, September 10th. BNP Paribas Exane lowered their price target on shares of Casey's General Stores from $1,032.00 to $995.00 and set an "outperform" rating for the company in a report on Thursday, June 25th. William Blair restated an "outperform" rating on shares of Casey's General Stores in a research report on Wednesday, September 16th. Wall Street Zen downgraded shares of Casey's General Stores from a "buy" rating to a "hold" rating in a research report on Saturday, September 12th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Casey's General Stores in a research note on Monday. 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, Casey's General Stores has an average rating of "Moderate Buy" and a consensus target price 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.

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