New England Research & Management Inc. Purchases New Stake in Casey’s General Stores, Inc. $CASY

New England Research & Management Inc. purchased a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) during the third quarter, HoldingsChannel reports. The institutional investor purchased 1,875 shares of the company’s stock, valued at approximately $1,141,000.

Several other institutional investors also recently bought and sold shares of the business. Fiduciary Financial Advisors acquired a new stake in Casey’s General Stores in the 2nd quarter valued at $26,000. Bell Investment Advisors Inc acquired a new position in shares of Casey’s General Stores during the second quarter worth about $33,000. Anchor Investment Management LLC lifted its stake in shares of Casey’s General Stores by 72.0% during the second quarter. Anchor Investment Management LLC now owns 43 shares of the company’s stock worth $34,000 after purchasing an additional 18 shares in the last quarter. Caitlin John LLC purchased a new stake in shares of Casey’s General Stores in the second quarter worth about $35,000. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Casey’s General Stores in the first quarter valued at about $33,000. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on CASY. Northcoast Research upgraded Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $950.00 target price on the stock in a report on Monday, July 13th. KeyCorp decreased their price target on Casey’s General Stores from $970.00 to $780.00 and set an “overweight” rating for the company in a report on Thursday, September 10th. Stephens set a $750.00 price objective on shares of Casey’s General Stores in a research report on Thursday, September 10th. Weiss Ratings lowered shares of Casey’s General Stores from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, July 21st. Finally, Capital One Financial began coverage on shares of Casey’s General Stores in a research note on Monday, June 22nd. They set an “equal weight” rating and a $896.00 price objective on the stock. Sixteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $835.38.

Casey’s General Stores Stock Up 2.3%

Shares of Casey’s General Stores stock traded up $15.59 during trading hours on Friday, hitting $689.22. 546,278 shares of the company’s stock traded hands, compared to its average volume of 599,177. The stock has a 50 day simple moving average of $701.72 and a 200-day simple moving average of $774.35. The company has a quick ratio of 0.61, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. The company has a market cap of $25.47 billion, a PE ratio of 33.20, a PEG ratio of 2.20 and a beta of 0.59. Casey’s General Stores, Inc. has a twelve month low of $497.38 and a twelve month high of $927.85.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Tuesday, September 8th. The company reported $7.37 earnings per share for the quarter, beating analysts’ consensus estimates of $6.78 by $0.59. Casey’s General Stores had a return on equity of 19.68% and a net margin of 4.14%. The firm had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.56 billion. During the same quarter last year, the firm earned $5.77 EPS. Casey’s General Stores’s quarterly revenue was up 24.3% on a year-over-year basis. Equities research analysts anticipate that Casey’s General Stores, Inc. will post 21.43 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 Friday, November 13th. Stockholders of record on Sunday, November 1st will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.4%. Casey’s General Stores’s dividend payout ratio (DPR) is presently 12.52%.

About Casey’s General Stores

Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.