Casey’s General Stores, Inc. (NASDAQ:CASY) Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. decreased its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 3.5% in the first quarter, Holdings Channel reports. The fund owned 2,435 shares of the company’s stock after selling 88 shares during the period. Shell Asset Management Co.’s holdings in Casey’s General Stores were worth $775,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Rise Advisors LLC acquired a new stake in Casey’s General Stores in the 1st quarter valued at about $30,000. V Square Quantitative Management LLC acquired a new stake in Casey’s General Stores in the 4th quarter valued at about $35,000. McGlone Suttner Wealth Management Inc. acquired a new stake in Casey’s General Stores in the 4th quarter valued at about $36,000. ICA Group Wealth Management LLC acquired a new stake in Casey’s General Stores in the 4th quarter valued at about $41,000. Finally, SRS Capital Advisors Inc. raised its holdings in Casey’s General Stores by 283.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 165 shares of the company’s stock valued at $45,000 after acquiring an additional 122 shares during the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Stock Up 4.9 %

Shares of NASDAQ:CASY opened at $391.16 on Friday. 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 firm has a market capitalization of $14.52 billion, a PE ratio of 29.13, a price-to-earnings-growth ratio of 2.69 and a beta of 0.80. The firm’s 50-day moving average is $360.95 and its two-hundred day moving average is $323.28. Casey’s General Stores, Inc. has a 1 year low of $238.44 and a 1 year high of $401.07.

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

Casey’s General Stores Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.51%. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, August 1st. Casey’s General Stores’s dividend payout ratio is presently 12.81%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. StockNews.com lowered Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Evercore ISI boosted their price objective on shares of Casey’s General Stores from $405.00 to $410.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. BMO Capital Markets upped their target price on shares of Casey’s General Stores from $305.00 to $400.00 and gave the company a “market perform” rating in a research report on Thursday, June 13th. Benchmark reaffirmed a “buy” rating and issued a $410.00 target price on shares of Casey’s General Stores in a research report on Wednesday. Finally, Royal Bank of Canada upped their target price on shares of Casey’s General Stores from $322.00 to $361.00 and gave the company a “sector perform” rating in a research report on Wednesday, June 12th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $401.22.

Casey’s General Stores Company 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.