Putnam Investments LLC Makes New $1.51 Million Investment in Casey’s General Stores, Inc. (NASDAQ:CASY)

Posted by Defense World Staff on Mar 14th, 2023

Putnam Investments LLC bought a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY – Get Rating) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,459 shares of the company’s stock, valued at approximately $1,511,000.

Several other large investors also recently bought and sold shares of CASY. American Century Companies Inc. grew its position in Casey’s General Stores by 16.2% during the 1st quarter. American Century Companies Inc. now owns 12,483 shares of the company’s stock worth $2,474,000 after purchasing an additional 1,736 shares during the last quarter. Private Advisor Group LLC grew its position in Casey’s General Stores by 13.5% during the 1st quarter. Private Advisor Group LLC now owns 2,478 shares of the company’s stock worth $491,000 after purchasing an additional 294 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Casey’s General Stores by 3.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,736 shares of the company’s stock worth $344,000 after purchasing an additional 54 shares during the last quarter. Great West Life Assurance Co. Can grew its position in Casey’s General Stores by 9.8% during the 1st quarter. Great West Life Assurance Co. Can now owns 21,127 shares of the company’s stock worth $4,311,000 after purchasing an additional 1,880 shares during the last quarter. Finally, Yousif Capital Management LLC grew its position in Casey’s General Stores by 1.9% during the 1st quarter. Yousif Capital Management LLC now owns 15,024 shares of the company’s stock worth $2,977,000 after purchasing an additional 273 shares during the last quarter. Hedge funds and other institutional investors own 84.74% of the company’s stock.

Casey’s General Stores Stock Down 0.6 %

Shares of NASDAQ CASY opened at $210.40 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 1.10 and a debt-to-equity ratio of 0.63. Casey’s General Stores, Inc. has a 52-week low of $174.05 and a 52-week high of $249.90. The firm has a market cap of $7.84 billion, a price-to-earnings ratio of 17.49 and a beta of 0.82. The company’s 50-day simple moving average is $221.36 and its 200-day simple moving average is $222.79.

Casey’s General Stores (NASDAQ:CASY – Get Rating) last posted its quarterly earnings data on Wednesday, March 8th. The company reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.53. Casey’s General Stores had a return on equity of 18.02% and a net margin of 2.96%. The company had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.35 billion. During the same period in the previous year, the firm posted $1.71 EPS. Casey’s General Stores’s revenue was up 9.3% compared to the same quarter last year. Equities analysts predict that Casey’s General Stores, Inc. will post 11.6 EPS for the current fiscal year.

Casey’s General Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 15th. Investors of record on Monday, May 1st will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 0.72%. The ex-dividend date is Friday, April 28th. Casey’s General Stores’s payout ratio is 12.64%.

Analysts Set New Price Targets

CASY has been the topic of several recent research reports. Credit Suisse Group reaffirmed a “neutral” rating and issued a $254.00 price objective on shares of Casey’s General Stores in a report on Thursday, March 9th. Northcoast Research downgraded shares of Casey’s General Stores from a “buy” rating to a “neutral” rating in a report on Thursday, December 8th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Casey’s General Stores from $285.00 to $294.00 and gave the company a “buy” rating in a report on Thursday, March 9th. Stephens reissued an “overweight” rating and set a $280.00 price target on shares of Casey’s General Stores in a report on Wednesday, March 8th. Finally, Royal Bank of Canada increased their price target on shares of Casey’s General Stores from $268.00 to $273.00 and gave the stock a “sector perform” rating in a report on Wednesday, March 8th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $259.44.

Casey’s General Stores Company Profile

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Casey’s General Stores, Inc engages in the management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.