Allspring Global Investments Holdings LLC Raises Holdings in Casey’s General Stores, Inc. (NASDAQ:CASY)

Allspring Global Investments Holdings LLC lifted its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 7.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,769 shares of the company’s stock after purchasing an additional 857 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Casey’s General Stores were worth $3,114,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Casey’s General Stores by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 3,734,566 shares of the company’s stock worth $756,324,000 after purchasing an additional 25,687 shares in the last quarter. BlackRock Inc. grew its stake in Casey’s General Stores by 2.1% in the 1st quarter. BlackRock Inc. now owns 3,287,615 shares of the company’s stock worth $711,637,000 after acquiring an additional 68,495 shares during the period. State Street Corp grew its stake in Casey’s General Stores by 4.4% in the 3rd quarter. State Street Corp now owns 1,432,889 shares of the company’s stock worth $290,189,000 after acquiring an additional 60,487 shares during the period. Clearbridge Investments LLC grew its stake in Casey’s General Stores by 0.3% in the 1st quarter. Clearbridge Investments LLC now owns 1,262,198 shares of the company’s stock worth $273,215,000 after acquiring an additional 4,229 shares during the period. Finally, Morgan Stanley grew its stake in Casey’s General Stores by 430.5% in the 4th quarter. Morgan Stanley now owns 1,141,475 shares of the company’s stock worth $256,090,000 after acquiring an additional 926,324 shares during the period. 85.43% of the stock is owned by hedge funds and other institutional investors.

Casey’s General Stores Stock Performance

NASDAQ:CASY opened at $273.57 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.64 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $10.20 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 2.31 and a beta of 0.79. The firm’s fifty day simple moving average is $265.70 and its 200 day simple moving average is $246.64. Casey’s General Stores, Inc. has a twelve month low of $202.13 and a twelve month high of $284.18.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Tuesday, September 12th. The company reported $4.52 earnings per share for the quarter, beating the consensus estimate of $3.36 by $1.16. Casey’s General Stores had a net margin of 3.19% and a return on equity of 17.10%. The business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.90 billion. During the same quarter in the previous year, the business posted $4.09 EPS. The business’s quarterly revenue was down 13.1% on a year-over-year basis. As a group, equities research analysts expect that Casey’s General Stores, Inc. will post 11.46 earnings per share for the current fiscal year.

Casey’s General Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be issued a $0.43 dividend. The ex-dividend date is Tuesday, October 31st. This represents a $1.72 dividend on an annualized basis and a yield of 0.63%. Casey’s General Stores’s dividend payout ratio is currently 13.93%.

Wall Street Analyst Weigh In

Several research firms have commented on CASY. Wells Fargo & Company lifted their target price on shares of Casey’s General Stores from $260.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 13th. Royal Bank of Canada lifted their target price on shares of Casey’s General Stores from $275.00 to $284.00 and gave the stock a “sector perform” rating in a research note on Tuesday, September 12th. Credit Suisse Group raised shares of Casey’s General Stores from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $235.00 to $285.00 in a research note on Tuesday, July 18th. Stephens reiterated an “overweight” rating and issued a $280.00 price target on shares of Casey’s General Stores in a report on Tuesday, September 12th. Finally, Benchmark lifted their price target on shares of Casey’s General Stores from $275.00 to $312.00 and gave the company a “buy” rating in a report on Thursday, October 12th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $277.22.

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.