Diversify Advisory Services LLC Invests $651,000 in Casey’s General Stores, Inc. (NASDAQ:CASY)

Diversify Advisory Services LLC acquired a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 2,064 shares of the company’s stock, valued at approximately $651,000.

Other large investors also recently modified their holdings of the company. Impax Asset Management Group plc acquired a new stake in shares of Casey’s General Stores during the fourth quarter worth $2,596,000. Comerica Bank acquired a new stake in shares of Casey’s General Stores during the third quarter worth $5,834,000. Congress Asset Management Co. MA bought a new position in Casey’s General Stores during the first quarter worth $112,081,000. Steward Partners Investment Advisory LLC boosted its stake in Casey’s General Stores by 195.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,488 shares of the company’s stock worth $958,000 after acquiring an additional 2,309 shares in the last quarter. Finally, Principal Securities Inc. bought a new position in Casey’s General Stores during the fourth quarter worth $666,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CASY has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of Casey’s General Stores from $375.00 to $420.00 and gave the stock a “buy” rating in a research note on Thursday, June 13th. Benchmark increased their target price on shares of Casey’s General Stores from $350.00 to $410.00 and gave the stock a “buy” rating in a research note on Thursday, June 13th. Wells Fargo & Company increased their target price on shares of Casey’s General Stores from $340.00 to $415.00 and gave the stock an “overweight” rating in a research note on Thursday, June 13th. Royal Bank of Canada increased their target price on shares of Casey’s General Stores from $322.00 to $361.00 and gave the stock a “sector perform” rating in a research note on Wednesday, June 12th. Finally, BMO Capital Markets increased their target price on shares of Casey’s General Stores from $305.00 to $400.00 and gave the stock a “market perform” rating in a research note on Thursday, June 13th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $380.11.

Casey’s General Stores Stock Down 0.2 %

Shares of Casey’s General Stores stock traded down $0.90 during trading hours on Friday, reaching $369.36. The company’s stock had a trading volume of 261,201 shares, compared to its average volume of 385,712. Casey’s General Stores, Inc. has a one year low of $238.44 and a one year high of $389.43. The company has a market capitalization of $13.71 billion, a P/E ratio of 27.50, a P/E/G ratio of 2.68 and a beta of 0.80. The stock’s fifty day simple moving average is $346.86 and its two-hundred day simple moving average is $312.90. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.87.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Tuesday, June 11th. The company reported $2.34 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.64. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.47 billion. Casey’s General Stores had a net margin of 3.38% and a return on equity of 17.25%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.49 earnings per share. On average, research analysts forecast that Casey’s General Stores, Inc. will post 14.2 earnings per share for the current year.

Casey’s General Stores Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.54%. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, August 1st. Casey’s General Stores’s dividend payout ratio (DPR) is presently 12.81%.

Casey’s General Stores Profile

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.