Cumberland Partners Ltd Makes New Investment in Casey’s General Stores, Inc. (NASDAQ:CASY)

Cumberland Partners Ltd bought a new position in Casey’s General Stores, Inc. (NASDAQ:CASY) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,250 shares of the company’s stock, valued at approximately $618,000.

Several other large investors also recently added to or reduced their stakes in CASY. BKM Wealth Management LLC acquired a new stake in shares of Casey’s General Stores in the fourth quarter worth $29,000. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Casey’s General Stores in the fourth quarter worth $36,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Casey’s General Stores in the third quarter worth $38,000. Pinnacle Bancorp Inc. lifted its stake in shares of Casey’s General Stores by 44.0% in the third quarter. Pinnacle Bancorp Inc. now owns 144 shares of the company’s stock worth $39,000 after buying an additional 44 shares during the last quarter. Finally, Milestone Investment Advisors LLC acquired a new stake in shares of Casey’s General Stores in the third quarter worth $43,000. 85.63% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on CASY. Wells Fargo & Company upped their target price 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. BMO Capital Markets boosted their price target on shares of Casey’s General Stores from $290.00 to $305.00 and gave the company a “market perform” rating in a report on Wednesday, March 13th. Evercore ISI lowered their price target on shares of Casey’s General Stores from $350.00 to $345.00 and set an “outperform” rating on the stock in a report on Tuesday, April 16th. Benchmark reissued a “buy” rating and issued a $312.00 price target on shares of Casey’s General Stores in a report on Wednesday, March 6th. Finally, StockNews.com lowered shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 21st. Two equities research analysts have rated the stock with a hold rating and six 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 price target of $312.63.

Casey’s General Stores Price Performance

Shares of CASY traded up $3.31 during trading hours on Wednesday, hitting $316.63. The stock had a trading volume of 131,290 shares, compared to its average volume of 278,865. The company’s fifty day moving average is $306.08 and its two-hundred day moving average is $286.85. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.89 and a quick ratio of 0.42. Casey’s General Stores, Inc. has a 52 week low of $212.50 and a 52 week high of $324.40. The stock has a market capitalization of $11.72 billion, a price-to-earnings ratio of 25.06, a P/E/G ratio of 2.51 and a beta of 0.83.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Tuesday, March 12th. The company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.13. Casey’s General Stores had a net margin of 3.23% and a return on equity of 16.70%. The firm had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.51 billion. During the same quarter in the prior year, the firm earned $2.36 EPS. The company’s revenue was down .1% on a year-over-year basis. On average, analysts anticipate that Casey’s General Stores, Inc. will post 12.81 EPS for the current year.

Casey’s General Stores Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a $0.43 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.54%. Casey’s General Stores’s dividend payout ratio is 13.67%.

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.