Casey's General Stores, Inc. (NASDAQ:CASY) Stock Holdings Boosted by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC grew its stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 17.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167,817 shares of the company's stock after acquiring an additional 24,789 shares during the period. Casey's General Stores accounts for 0.8% of Wedge Capital Management L L P NC's holdings, making the stock its 29th biggest holding. Wedge Capital Management L L P NC owned about 0.45% of Casey's General Stores worth $46,106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Impax Asset Management Group plc bought a new position in shares of Casey's General Stores during the fourth quarter valued at approximately $2,596,000. Comerica Bank bought a new position in shares of Casey's General Stores during the third quarter valued at approximately $5,834,000. Quantbot Technologies LP bought a new position in shares of Casey's General Stores during the third quarter valued at approximately $1,336,000. Lord Abbett & CO. LLC bought a new position in shares of Casey's General Stores during the third quarter valued at approximately $21,993,000. Finally, O Shaughnessy Asset Management LLC boosted its stake in shares of Casey's General Stores by 114.1% during the third quarter. O Shaughnessy Asset Management LLC now owns 6,297 shares of the company's stock valued at $1,710,000 after purchasing an additional 3,356 shares in the last quarter. 85.63% of the stock is currently owned by institutional investors.

Casey's General Stores Stock Performance

Shares of NASDAQ CASY traded up $3.07 during midday trading on Monday, reaching $313.48. The company had a trading volume of 291,886 shares, compared to its average volume of 281,139. The business's 50-day simple moving average is $305.42 and its 200 day simple moving average is $286.55. The stock has a market cap of $11.60 billion, a P/E ratio of 24.92, a P/E/G ratio of 2.49 and a beta of 0.83. Casey's General Stores, Inc. has a 1 year low of $212.50 and a 1 year high of $324.40. The company has a current ratio of 0.89, a quick ratio of 0.42 and a debt-to-equity ratio of 0.54.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings results on Tuesday, March 12th. The company reported $2.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.20 by $0.13. The business had revenue of $3.33 billion during the quarter, compared to analysts' expectations of $3.51 billion. Casey's General Stores had a net margin of 3.23% and a return on equity of 16.70%. The business's quarterly revenue was down .1% on a year-over-year basis. During the same quarter last year, the company posted $2.36 earnings per share. On average, analysts forecast that Casey's General Stores, Inc. will post 12.81 earnings per share for the current fiscal year.

Casey's General Stores Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a $0.43 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.55%. Casey's General Stores's dividend payout ratio is currently 13.67%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CASY. Wells Fargo & Company increased their price objective on shares of Casey's General Stores from $305.00 to $340.00 and gave the company an "overweight" rating in a research note on Tuesday, March 5th. StockNews.com downgraded shares of Casey's General Stores from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 21st. Evercore ISI lowered their target price on shares of Casey's General Stores from $350.00 to $345.00 and set an "outperform" rating for the company in a research note on Tuesday, April 16th. Benchmark restated a "buy" rating and issued a $312.00 target price on shares of Casey's General Stores in a research note on Wednesday, March 6th. Finally, BMO Capital Markets raised their target price on shares of Casey's General Stores from $290.00 to $305.00 and gave the company a "market perform" rating in a research note on Wednesday, March 13th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $312.63.

About Casey's General Stores

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.