Advisors Capital Management LLC Increases Stock Holdings in Casey’s General Stores, Inc. $CASY

Advisors Capital Management LLC grew its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 0.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 46,329 shares of the company’s stock after acquiring an additional 344 shares during the period. Advisors Capital Management LLC owned 0.12% of Casey’s General Stores worth $23,641,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Samlyn Capital LLC boosted its stake in Casey’s General Stores by 42.8% in the 1st quarter. Samlyn Capital LLC now owns 255,659 shares of the company’s stock worth $110,966,000 after purchasing an additional 76,673 shares during the period. UNIVEST FINANCIAL Corp lifted its position in Casey’s General Stores by 157.2% in the second quarter. UNIVEST FINANCIAL Corp now owns 8,556 shares of the company’s stock worth $4,366,000 after buying an additional 5,230 shares during the last quarter. Ground Swell Capital LLC bought a new position in Casey’s General Stores during the 1st quarter valued at about $338,000. Meridian Wealth Management LLC lifted its stake in shares of Casey’s General Stores by 71.6% during the 1st quarter. Meridian Wealth Management LLC now owns 1,215 shares of the company’s stock worth $527,000 after acquiring an additional 507 shares during the last quarter. Finally, West Bancorporation Inc. bought a new stake in shares of Casey’s General Stores during the second quarter worth $278,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Stock Performance

Shares of CASY stock opened at $536.66 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.03 and a quick ratio of 0.61. The business has a fifty day moving average of $544.72 and a 200 day moving average of $509.67. The firm has a market capitalization of $19.95 billion, a price-to-earnings ratio of 34.45 and a beta of 0.66. Casey’s General Stores, Inc. has a 1 year low of $372.08 and a 1 year high of $572.18.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Monday, September 8th. The company reported $5.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.02 by $0.75. The company had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.47 billion. Casey’s General Stores had a net margin of 3.54% and a return on equity of 16.73%. Casey’s General Stores’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period last year, the firm posted $4.83 EPS. As a group, research analysts expect that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey’s General Stores Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Saturday, November 1st will be paid a $0.57 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $2.28 dividend on an annualized basis and a yield of 0.4%. Casey’s General Stores’s dividend payout ratio (DPR) is currently 14.63%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CASY. Zacks Research upgraded Casey’s General Stores from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 15th. Wells Fargo & Company started coverage on Casey’s General Stores in a research report on Wednesday, October 15th. They set an “overweight” rating and a $610.00 target price for the company. KeyCorp increased their price target on Casey’s General Stores from $550.00 to $575.00 and gave the stock an “overweight” rating in a research report on Friday, July 25th. Jefferies Financial Group lifted their price objective on Casey’s General Stores from $575.00 to $600.00 and gave the company a “buy” rating in a report on Tuesday, September 9th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Casey’s General Stores in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Casey’s General Stores has an average rating of “Moderate Buy” and an average price target of $564.00.

Insiders Place Their Bets

In related news, insider Chad Michael Frazell sold 3,487 shares of Casey’s General Stores stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $555.40, for a total value of $1,936,679.80. Following the sale, the insider directly owned 7,993 shares in the company, valued at approximately $4,439,312.20. The trade was a 30.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Casey’s General Stores Company Profile

Casey’s General Stores, Inc engages in the provision of 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.