Casey's General Stores, Inc. $CASY Stock: TD Waterhouse Canada Inc. Lowers Stake

Key Points

• TD Waterhouse Canada cut its Casey’s General Stores stake by 73.9% in the third quarter, selling 20,148 shares and retaining 7,107 shares worth about $4.4 million. Institutional investors and hedge funds collectively own 85.63% of the stock.
• Casey’s exceeded quarterly expectations, reporting EPS of $7.37 versus the $6.78 consensus and revenue of $5.68 billion, up 24.3% year over year.
• The company declared a quarterly dividend of $0.65, equivalent to $2.60 annually and a 0.4% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $835.38, compared with shares at $693.73.

TD Waterhouse Canada Inc. trimmed its position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 73.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,107 shares of the company's stock after selling 20,148 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Casey's General Stores were worth $4,408,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new position in Casey's General Stores in the second quarter worth $2,759,895,000. Bank of America Corp DE bought a new stake in Casey's General Stores during the second quarter valued at $281,872,000. Bank of New York Mellon Corp bought a new stake in Casey's General Stores during the second quarter valued at $281,011,000. Jupiter Topco LLC acquired a new stake in shares of Casey's General Stores during the second quarter worth $246,982,000. Finally, Principal Financial Group Inc. raised its holdings in shares of Casey's General Stores by 2.1% during the first quarter. Principal Financial Group Inc. now owns 252,374 shares of the company's stock worth $183,693,000 after purchasing an additional 5,294 shares during the period. 85.63% of the stock is owned by institutional investors and hedge funds.

Casey's General Stores Price Performance

Shares of NASDAQ CASY opened at $693.73 on Tuesday. 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 debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.61. The business's fifty day moving average price is $698.51 and its two-hundred day moving average price is $774.60. The firm has a market capitalization of $25.64 billion, a PE ratio of 33.42, a P/E/G ratio of 2.25 and a beta of 0.59.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its earnings results on Tuesday, September 8th. The company reported $7.37 earnings per share (EPS) 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 company had revenue of $5.68 billion for the quarter, compared to analysts' expectations of $5.56 billion. During the same period last year, the business posted $5.77 earnings per share. The firm's quarterly revenue was up 24.3% compared to the same quarter last year. On average, research analysts expect that Casey's General Stores, Inc. will post 21.43 EPS for the current year.

Casey's General Stores Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $933.00 price target on shares of Casey's General Stores in a research report on Thursday, September 10th. JPMorgan Chase & Co. lowered their price objective on shares of Casey's General Stores from $975.00 to $833.00 and set a "neutral" rating for the company in a research report on Thursday, September 3rd. The Goldman Sachs Group set a $750.00 price objective on shares of Casey's General Stores in a research report on Wednesday, September 9th. Wall Street Zen lowered shares of Casey's General Stores from a "buy" rating to a "hold" rating in a research note on Saturday, September 12th. Finally, Stephens set a $750.00 target price on shares of Casey's General Stores in a report on Thursday, September 10th. Sixteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $835.38.

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.

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