Anchor Capital Advisors LLC Has $54.64 Million Stake in Casey’s General Stores, Inc. (NASDAQ:CASY)

Anchor Capital Advisors LLC lowered its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 29.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,202 shares of the company’s stock after selling 60,873 shares during the quarter. Casey’s General Stores comprises approximately 1.5% of Anchor Capital Advisors LLC’s investment portfolio, making the stock its 13th biggest position. Anchor Capital Advisors LLC owned about 0.39% of Casey’s General Stores worth $54,640,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Private Advisor Group LLC increased its holdings in Casey’s General Stores by 37.2% in the 4th quarter. Private Advisor Group LLC now owns 3,309 shares of the company’s stock valued at $909,000 after buying an additional 897 shares during the period. Charles Schwab Investment Management Inc. raised its position in Casey’s General Stores by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 265,915 shares of the company’s stock valued at $73,057,000 after purchasing an additional 6,867 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new position in Casey’s General Stores during the fourth quarter valued at approximately $82,000. Principal Securities Inc. bought a new stake in Casey’s General Stores during the fourth quarter worth $666,000. Finally, Versor Investments LP acquired a new stake in shares of Casey’s General Stores in the 4th quarter valued at $495,000. Institutional investors own 85.63% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CASY. BMO Capital Markets upped their price objective on Casey’s General Stores from $305.00 to $400.00 and gave the stock a “market perform” rating in a research report on Thursday, June 13th. JPMorgan Chase & Co. increased their target price on shares of Casey’s General Stores from $298.00 to $300.00 and gave the stock a “neutral” rating in a report on Wednesday. Wells Fargo & Company lifted their price target on shares of Casey’s General Stores from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Friday. Evercore ISI upped their price objective on shares of Casey’s General Stores from $410.00 to $435.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Finally, Jefferies Financial Group raised 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 research 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $401.20.

Casey’s General Stores Price Performance

Shares of NASDAQ:CASY opened at $373.82 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.87. Casey’s General Stores, Inc. has a 52 week low of $238.44 and a 52 week high of $401.07. The firm has a market cap of $13.87 billion, a PE ratio of 27.83, a price-to-earnings-growth ratio of 2.52 and a beta of 0.80. The firm’s fifty day moving average is $373.57 and its 200-day moving average is $342.55.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, topping the consensus estimate of $4.54 by $0.29. The firm had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.15 billion. Casey’s General Stores had a return on equity of 17.25% and a net margin of 3.38%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the business earned $4.52 EPS. Sell-side analysts predict that Casey’s General Stores, Inc. will post 14.06 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Friday, November 1st. Casey’s General Stores’s payout ratio is presently 14.89%.

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.