Norden Group LLC Takes $5.54 Million Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

Norden Group LLC bought a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the 1st quarter, Holdings Channel.com reports. The fund bought 17,374 shares of the company’s stock, valued at approximately $5,535,000.

Other large investors also recently bought and sold shares of the company. BKM Wealth Management LLC acquired a new position in shares of Casey’s General Stores during the fourth quarter worth about $29,000. Rise Advisors LLC acquired a new position in Casey’s General Stores during the 1st quarter worth approximately $30,000. V Square Quantitative Management LLC purchased a new stake in shares of Casey’s General Stores in the 4th quarter valued at approximately $35,000. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Casey’s General Stores in the 4th quarter valued at $36,000. Finally, ICA Group Wealth Management LLC purchased a new stake in shares of Casey’s General Stores during the 4th quarter worth $41,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Stock Down 1.0 %

CASY stock opened at $370.26 on Friday. The company has a market cap of $13.74 billion, a price-to-earnings ratio of 27.57, a price-to-earnings-growth ratio of 2.70 and a beta of 0.80. The company has a fifty day moving average price of $345.87 and a 200 day moving average price of $312.22. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.87 and a quick ratio of 0.42. Casey’s General Stores, Inc. has a 12 month low of $238.44 and a 12 month high of $389.43.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Tuesday, June 11th. The company reported $2.34 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.64. Casey’s General Stores had a net margin of 3.38% and a return on equity of 17.25%. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the prior year, the company earned $1.49 earnings per share. The business’s revenue was up 8.2% compared to the same quarter last year. Sell-side analysts expect that Casey’s General Stores, Inc. will post 14.2 earnings per share for the current year.

Casey’s General Stores Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be paid a $0.50 dividend. This is an increase 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 is Thursday, August 1st. Casey’s General Stores’s dividend payout ratio (DPR) is 12.81%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CASY shares. Evercore ISI cut their price target on Casey’s General Stores from $350.00 to $345.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 16th. Benchmark raised their target price on Casey’s General Stores from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Wells Fargo & Company upped their price target on Casey’s General Stores from $340.00 to $415.00 and gave the company an “overweight” rating in a report on Thursday, June 13th. Northcoast Research cut shares of Casey’s General Stores from a “buy” rating to a “neutral” rating in a report on Wednesday, May 15th. Finally, Jefferies Financial Group upped their target price on shares of Casey’s General Stores from $342.00 to $445.00 and gave the company a “buy” rating in a report on Wednesday, June 12th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $380.11.

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.