Rheos Capital Works Inc. Makes New Investment in Casey’s General Stores, Inc. (NASDAQ:CASY)

Rheos Capital Works Inc. purchased a new stake in Casey’s General Stores, Inc. (NASDAQ:CASY) in the first quarter, HoldingsChannel reports. The firm purchased 49,000 shares of the company’s stock, valued at approximately $15,604,000.

Several other institutional investors have also made changes to their positions in CASY. LexAurum Advisors LLC increased its holdings in Casey’s General Stores by 3.1% in the 4th quarter. LexAurum Advisors LLC now owns 1,317 shares of the company’s stock worth $362,000 after purchasing an additional 40 shares in the last quarter. AdvisorShares Investments LLC raised its stake in shares of Casey’s General Stores by 9.3% during the fourth quarter. AdvisorShares Investments LLC now owns 469 shares of the company’s stock valued at $129,000 after acquiring an additional 40 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Casey’s General Stores by 12.8% during the first quarter. GAMMA Investing LLC now owns 353 shares of the company’s stock valued at $112,000 after acquiring an additional 40 shares during the last quarter. Arbor Capital Management Inc. ADV lifted its holdings in shares of Casey’s General Stores by 0.9% during the fourth quarter. Arbor Capital Management Inc. ADV now owns 4,567 shares of the company’s stock worth $1,261,000 after purchasing an additional 42 shares during the period. Finally, Raymond James Trust N.A. grew its stake in shares of Casey’s General Stores by 5.0% in the fourth quarter. Raymond James Trust N.A. now owns 1,034 shares of the company’s stock worth $284,000 after purchasing an additional 49 shares during the last quarter. 85.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CASY has been the subject of several analyst reports. Royal Bank of Canada raised their target price on Casey’s General Stores from $322.00 to $361.00 and gave the stock a “sector perform” rating in a research report on Wednesday, June 12th. Evercore ISI lowered their price objective on Casey’s General Stores from $350.00 to $345.00 and set an “outperform” rating for the company in a research report on Tuesday, April 16th. BMO Capital Markets upped their target price on Casey’s General Stores from $305.00 to $400.00 and gave the company a “market perform” rating in a report on Thursday, June 13th. Northcoast Research lowered shares of Casey’s General Stores from a “buy” rating to a “neutral” rating in a report on Wednesday, May 15th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Casey’s General Stores from $375.00 to $420.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Casey’s General Stores currently has an average rating of “Moderate Buy” and a consensus price target of $380.11.

Casey’s General Stores Stock Up 0.9 %

Shares of NASDAQ:CASY traded up $3.36 during trading on Friday, reaching $371.77. 438,051 shares of the stock were exchanged, compared to its average volume of 350,059. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.87 and a quick ratio of 0.42. The stock has a fifty day moving average of $334.17 and a two-hundred day moving average of $306.10. Casey’s General Stores, Inc. has a 1-year low of $221.36 and a 1-year high of $389.43. The firm has a market cap of $13.76 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 2.67 and a beta of 0.83.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Tuesday, June 11th. The company reported $2.34 EPS for the quarter, topping the consensus estimate of $1.70 by $0.64. Casey’s General Stores had a net margin of 3.38% and a return on equity of 17.25%. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the previous year, the firm posted $1.49 earnings per share. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. Research analysts anticipate that Casey’s General Stores, Inc. will post 14.18 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, August 1st. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.43. This represents a $2.00 annualized dividend and a dividend yield of 0.54%. Casey’s General Stores’s dividend payout ratio is 12.81%.

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.