Investment Centers of America Inc. raised its stake in Caseys General Stores, Inc. (NASDAQ:CASY) by 1.8% during the first quarter, Holdings Channel reports. The institutional investor owned 13,011 shares of the company’s stock after buying an additional 229 shares during the period. Investment Centers of America Inc.’s holdings in Caseys General Stores were worth $1,452,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Advisory Services Network LLC acquired a new position in shares of Caseys General Stores during the first quarter valued at $115,000. Numeric Investors LLC acquired a new position in shares of Caseys General Stores during the fourth quarter valued at $214,000. Private Advisor Group LLC acquired a new position in shares of Caseys General Stores during the first quarter valued at $233,000. United Capital Financial Advisers LLC acquired a new position in shares of Caseys General Stores during the fourth quarter valued at $242,000. Finally, State of Alaska Department of Revenue boosted its position in shares of Caseys General Stores by 5.1% in the first quarter. State of Alaska Department of Revenue now owns 2,411 shares of the company’s stock valued at $270,000 after buying an additional 117 shares in the last quarter. Institutional investors and hedge funds own 97.18% of the company’s stock.
Shares of Caseys General Stores, Inc. (CASY) traded down 0.74% during mid-day trading on Friday, reaching $108.03. 946,187 shares of the company’s stock were exchanged. The company’s 50 day moving average is $112.88 and its 200 day moving average is $115.18. Caseys General Stores, Inc. has a 1-year low of $105.50 and a 1-year high of $136.22. The stock has a market capitalization of $4.21 billion, a PE ratio of 24.11 and a beta of 0.48.
Caseys General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Monday, June 5th. The company reported $0.76 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by $0.09. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.88 billion. Caseys General Stores had a net margin of 2.36% and a return on equity of 14.93%. Caseys General Stores’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.19 EPS. Equities research analysts anticipate that Caseys General Stores, Inc. will post $4.57 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st will be paid a $0.26 dividend. This is a positive change from Caseys General Stores’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, July 28th. This represents a $1.04 annualized dividend and a yield of 0.96%. Caseys General Stores’s payout ratio is currently 21.43%.
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Several research analysts have recently weighed in on the stock. BMO Capital Markets set a $116.00 price target on shares of Caseys General Stores and gave the stock a “hold” rating in a research note on Wednesday, May 31st. Sidoti downgraded shares of Caseys General Stores from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $130.00 to $118.00 in a research report on Tuesday, June 6th. Zacks Investment Research downgraded shares of Caseys General Stores from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Jefferies Group LLC set a $139.00 price objective on shares of Caseys General Stores and gave the company a “buy” rating in a research report on Thursday, May 18th. Finally, Northcoast Research downgraded shares of Caseys General Stores from a “buy” rating to a “neutral” rating in a research report on Thursday, March 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Caseys General Stores presently has an average rating of “Hold” and an average target price of $120.50.
About Caseys General Stores
Casey’s General Stores, Inc and its subsidiaries, operate convenience stores under the name Casey’s General Store in approximately 10 Midwestern states, in Iowa, Missouri, and Illinois. The Company also operates approximately two stores selling primarily tobacco products. The stores carry a range of food, including freshly prepared foods such as pizza, donuts, and sandwiches, beverages, tobacco products, health and beauty aids, automotive products and other nonfood items.
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