Janney Montgomery Scott LLC Buys 2,620 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY)

Janney Montgomery Scott LLC increased its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 46.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,309 shares of the company’s stock after purchasing an additional 2,620 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Casey’s General Stores were worth $2,646,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in Casey’s General Stores in the 4th quarter worth $115,799,000. Congress Asset Management Co. MA purchased a new stake in Casey’s General Stores in the 1st quarter worth $112,081,000. Principal Financial Group Inc. increased its stake in Casey’s General Stores by 113.0% in the 1st quarter. Principal Financial Group Inc. now owns 291,838 shares of the company’s stock worth $92,936,000 after buying an additional 154,803 shares in the last quarter. Point72 Asset Management L.P. increased its stake in Casey’s General Stores by 561.7% in the 4th quarter. Point72 Asset Management L.P. now owns 273,168 shares of the company’s stock worth $75,050,000 after buying an additional 231,887 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Casey’s General Stores by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 265,915 shares of the company’s stock worth $73,057,000 after buying an additional 6,867 shares in the last quarter. 85.63% of the stock is owned by institutional investors.

Casey’s General Stores Stock Up 0.1 %

Shares of NASDAQ:CASY opened at $376.44 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.42 and a debt-to-equity ratio of 0.52. Casey’s General Stores, Inc. has a 12 month low of $238.44 and a 12 month high of $389.43. The company has a 50-day moving average price of $351.90 and a 200 day moving average price of $316.23. The company has a market cap of $13.97 billion, a price-to-earnings ratio of 28.03, a PEG ratio of 2.63 and a beta of 0.80.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Tuesday, June 11th. The company reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.64. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.47 billion. Casey’s General Stores had a net margin of 3.38% and a return on equity of 17.25%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.49 earnings per share. As a group, equities research analysts predict that Casey’s General Stores, Inc. will post 14.2 earnings per share for the current year.

Casey’s General Stores Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Thursday, August 1st. This represents a $2.00 annualized dividend and a yield of 0.53%. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.43. Casey’s General Stores’s dividend payout ratio (DPR) is presently 12.81%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wells Fargo & Company increased their price target on Casey’s General Stores from $340.00 to $415.00 and gave the stock an “overweight” rating in a research note on Thursday, June 13th. Benchmark increased their price target on Casey’s General Stores from $350.00 to $410.00 and gave the stock a “buy” rating in a research note on Thursday, June 13th. Jefferies Financial Group raised their price objective on Casey’s General Stores from $342.00 to $445.00 and gave the company a “buy” rating in a research report on Wednesday, June 12th. BMO Capital Markets raised their price objective on Casey’s General Stores from $305.00 to $400.00 and gave the company a “market perform” rating in a research report on Thursday, June 13th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Casey’s General Stores from $375.00 to $420.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Casey’s General Stores presently has a consensus rating of “Moderate Buy” and a consensus target price of $383.10.

Casey’s General Stores 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.