Pensioenfonds Rail & OV Makes New Investment in Casey’s General Stores, Inc. $CASY

Pensioenfonds Rail & OV purchased a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 7,616 shares of the company’s stock, valued at approximately $4,634,000.

Several other hedge funds also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Casey’s General Stores in the 2nd quarter worth $2,759,895,000. Bank of America Corp DE bought a new position in Casey’s General Stores during the second quarter valued at about $281,872,000. Bank of New York Mellon Corp bought a new position in Casey’s General Stores during the second quarter valued at about $281,011,000. Jupiter Topco LLC bought a new position in Casey’s General Stores during the second quarter valued at about $246,982,000. Finally, Corient Private Wealth LP acquired a new position in Casey’s General Stores during the second quarter worth about $164,376,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Casey’s General Stores Price Performance

Shares of CASY traded up $5.45 during trading hours on Friday, hitting $712.08. 253,224 shares of the company were exchanged, compared to its average volume of 456,679. The company has a market capitalization of $26.32 billion, a PE ratio of 34.30, a PEG ratio of 2.29 and a beta of 0.59. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.61. The firm has a fifty day simple moving average of $653.39 and a 200-day simple moving average of $743.08. Casey’s General Stores, Inc. has a one year low of $529.84 and a one year high of $927.85.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Tuesday, September 8th. The company reported $7.37 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.56 billion. During the same period in the previous year, the firm earned $5.77 earnings per share. Casey’s General Stores’s revenue for the quarter was up 24.3% compared to the same quarter last year. As a group, sell-side analysts predict that Casey’s General Stores, Inc. will post 21.61 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 13th. Investors of record on Sunday, November 1st were paid a $0.65 dividend. The ex-dividend date of this dividend was Friday, October 30th. This represents a $2.60 dividend on an annualized basis and a yield of 0.4%. Casey’s General Stores’s dividend payout ratio (DPR) is currently 12.52%.

Wall Street Analyst Weigh In

CASY has been the topic of several research reports. JPMorgan Chase & Co. dropped their price target on shares of Casey’s General Stores from $975.00 to $833.00 and set a “neutral” rating on the stock in a research report on Thursday, September 3rd. The Goldman Sachs Group set a $750.00 price objective on shares of Casey’s General Stores in a research report on Wednesday, September 9th. BMO Capital Markets set a $810.00 price objective on shares of Casey’s General Stores in a research report on Thursday, September 10th. Evercore reaffirmed an “outperform” rating and issued a $775.00 price objective on shares of Casey’s General Stores in a research note on Friday, September 11th. Finally, Royal Bank Of Canada upgraded shares of Casey’s General Stores from a “sector perform” rating to an “outperform” rating and dropped their target price for the stock from $910.00 to $825.00 in a report on Thursday, October 15th. Sixteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $835.38.

Casey’s General Stores Profile

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.