Cwm LLC Has $5.39 Million Stock Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

Cwm LLC lifted its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 134.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,128 shares of the company’s stock after acquiring an additional 8,114 shares during the quarter. Cwm LLC’s holdings in Casey’s General Stores were worth $5,391,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Impax Asset Management Group plc acquired a new position in Casey’s General Stores during the fourth quarter worth approximately $2,596,000. Congress Asset Management Co. MA acquired a new position in Casey’s General Stores during the first quarter worth approximately $112,081,000. Steward Partners Investment Advisory LLC increased its position in Casey’s General Stores by 195.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,488 shares of the company’s stock worth $958,000 after buying an additional 2,309 shares during the last quarter. Principal Securities Inc. acquired a new position in Casey’s General Stores during the fourth quarter worth approximately $666,000. Finally, Kapitalo Investimentos Ltda acquired a new position in Casey’s General Stores during the fourth quarter worth approximately $903,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Stock Performance

Shares of NASDAQ:CASY traded down $6.19 during trading on Wednesday, reaching $367.54. 147,009 shares of the stock were exchanged, compared to its average volume of 288,405. The company has a current ratio of 0.87, a quick ratio of 0.42 and a debt-to-equity ratio of 0.52. The firm has a market cap of $13.64 billion, a PE ratio of 27.37, a PEG ratio of 2.81 and a beta of 0.80. The stock has a 50-day moving average price of $367.68 and a 200-day moving average price of $328.73. Casey’s General Stores, Inc. has a 12 month low of $238.44 and a 12 month high of $401.07.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Tuesday, June 11th. The company reported $2.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.64. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.47 billion. Casey’s General Stores had a return on equity of 17.25% and a net margin of 3.38%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.49 earnings per share. Research analysts expect that Casey’s General Stores, Inc. will post 14 EPS for the current fiscal year.

Casey’s General Stores Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be paid a $0.50 dividend. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.43. This represents a $2.00 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Thursday, August 1st. Casey’s General Stores’s payout ratio is 14.89%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CASY. Jefferies Financial Group boosted their price target on Casey’s General Stores from $342.00 to $445.00 and gave the stock a “buy” rating in a research report on Wednesday, June 12th. Wells Fargo & Company boosted their price target on Casey’s General Stores from $340.00 to $415.00 and gave the stock an “overweight” rating in a research report on Thursday, June 13th. StockNews.com downgraded Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research report on Saturday. BMO Capital Markets boosted their price objective on Casey’s General Stores from $305.00 to $400.00 and gave the stock a “market perform” rating in a report on Thursday, June 13th. Finally, Evercore ISI boosted their price objective on Casey’s General Stores from $410.00 to $435.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Casey’s General Stores currently has a consensus rating of “Moderate Buy” and a consensus price target of $410.22.

Casey’s General Stores Company 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.