Monument Capital Management Grows Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

Monument Capital Management grew its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 40.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,821 shares of the company’s stock after purchasing an additional 2,268 shares during the period. Monument Capital Management’s holdings in Casey’s General Stores were worth $2,490,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Morgan Stanley raised its holdings in Casey’s General Stores by 7.7% during the third quarter. Morgan Stanley now owns 1,585,359 shares of the company’s stock worth $430,458,000 after purchasing an additional 113,437 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Casey’s General Stores by 3.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 559,532 shares of the company’s stock worth $151,924,000 after buying an additional 18,528 shares in the last quarter. Norges Bank acquired a new stake in Casey’s General Stores in the 4th quarter valued at about $115,799,000. Congress Asset Management Co. MA purchased a new position in Casey’s General Stores during the 1st quarter valued at about $112,081,000. Finally, Point72 Asset Management L.P. raised its position in Casey’s General Stores by 561.7% during the fourth quarter. Point72 Asset Management L.P. now owns 273,168 shares of the company’s stock worth $75,050,000 after acquiring an additional 231,887 shares during the last quarter. 85.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on CASY. Jefferies Financial Group increased their target price on Casey’s General Stores from $342.00 to $445.00 and gave the company a “buy” rating in a 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. Royal Bank of Canada lifted their target price on Casey’s General Stores from $322.00 to $361.00 and gave the company a “sector perform” rating in a report on Wednesday, June 12th. Wells Fargo & Company raised their price objective on Casey’s General Stores from $340.00 to $415.00 and gave the stock an “overweight” rating in a report on Thursday, June 13th. Finally, StockNews.com cut Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 20th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $380.11.

Casey’s General Stores Stock Performance

Shares of CASY stock traded down $2.62 on Wednesday, hitting $371.28. 42,890 shares of the stock traded hands, compared to its average volume of 297,940. The company’s fifty day moving average is $343.73 and its 200 day moving average is $311.40. Casey’s General Stores, Inc. has a 1-year low of $238.44 and a 1-year high of $389.43. The company has a market capitalization of $13.78 billion, a PE ratio of 27.84, a PEG ratio of 2.76 and a beta of 0.80. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.87 and a quick ratio of 0.42.

Casey’s General Stores (NASDAQ:CASY) last issued its earnings results on Tuesday, June 11th. The company reported $2.34 earnings per share 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 analysts’ expectations of $3.47 billion. Casey’s General Stores had a net margin of 3.38% and a return on equity of 17.25%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.49 earnings per share. On average, equities research analysts predict that Casey’s General Stores, Inc. will post 14.2 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.54%. This is a boost 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 (DPR) is presently 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.