Woodmont Investment Counsel LLC Makes New $956,000 Investment in Casey's General Stores, Inc. $CASY

Key Points

• Woodmont Investment Counsel initiated a $956,000 position in Casey’s General Stores by purchasing 1,572 shares during the third quarter. Institutional investors collectively own 85.63% of the company.
• Casey’s exceeded quarterly expectations, reporting $7.37 in EPS and $5.68 billion in revenue, with sales up 24.3% year over year.
• The company declared a quarterly dividend of $0.65 per share, while analysts maintain a “Moderate Buy” consensus and an average price target of $835.38.

Woodmont Investment Counsel LLC bought a new stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,572 shares of the company's stock, valued at approximately $956,000.

Several other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Casey's General Stores during the 2nd quarter worth $2,759,895,000. Bank of America Corp DE bought a new stake in Casey's General Stores in the 2nd quarter valued at about $281,872,000. Bank of New York Mellon Corp bought a new stake in Casey's General Stores in the 2nd quarter valued at about $281,011,000. Jupiter Topco LLC purchased a new stake in Casey's General Stores during the second quarter valued at about $246,982,000. Finally, Principal Financial Group Inc. lifted its holdings in 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 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.

Casey's General Stores Stock Performance

NASDAQ CASY opened at $680.19 on Monday. The company's 50 day simple moving average is $672.65 and its two-hundred day simple moving average is $739.73. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.61. Casey's General Stores, Inc. has a 1 year low of $497.38 and a 1 year high of $927.85. The stock has a market capitalization of $25.14 billion, a PE ratio of 32.76, a P/E/G ratio of 2.20 and a beta of 0.59.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its quarterly earnings results on Tuesday, September 8th. The company reported $7.37 earnings per share for the quarter, topping the consensus estimate of $6.78 by $0.59. The firm had revenue of $5.68 billion for 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.77 earnings per share. Analysts predict that Casey's General Stores, Inc. will post 21.61 earnings per share for the current fiscal year.

Casey's General Stores Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Raymond James Financial upgraded shares of Casey's General Stores from a "market perform" rating to an "outperform" rating and set a $750.00 price target on the stock in a research note on Thursday, September 10th. BMO Capital Markets set a $810.00 price objective on shares of Casey's General Stores in a research note on Thursday, September 10th. Royal Bank Of Canada raised shares of Casey's General Stores from a "sector perform" rating to an "outperform" rating and lowered their target price for the company from $910.00 to $825.00 in a report on Thursday, October 15th. UBS Group dropped their target price on Casey's General Stores from $925.00 to $720.00 and set a "neutral" rating on the stock in a research report on Thursday, September 10th. Finally, Stephens set a $750.00 price target on Casey's General Stores in a report on Thursday, September 10th. Sixteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average 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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