Casey’s General Stores, Inc. $CASY Stock: Lido Advisors LLC Lowers Stake

Lido Advisors LLC lessened its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 12.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,495 shares of the company’s stock after selling 1,180 shares during the quarter. Lido Advisors LLC’s holdings in Casey’s General Stores were worth $5,169,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Daiichi Life Insurance Co. Ltd. bought a new stake in Casey’s General Stores in the 2nd quarter worth $1,222,000. National Pension Service raised its stake in shares of Casey’s General Stores by 3,138.9% during the second quarter. National Pension Service now owns 67,466 shares of the company’s stock valued at $53,621,000 after acquiring an additional 65,383 shares during the last quarter. NEOS Investment Management LLC bought a new position in shares of Casey’s General Stores during the second quarter valued at about $4,602,000. Jefferies Financial Group Inc. bought a new position in shares of Casey’s General Stores during the second quarter valued at about $15,114,000. Finally, Hsbc Holdings PLC boosted its holdings in shares of Casey’s General Stores by 573.4% during the second quarter. Hsbc Holdings PLC now owns 61,287 shares of the company’s stock worth $48,669,000 after purchasing an additional 52,186 shares during the period. Institutional investors own 85.63% of the company’s stock.

Wall Street Analyst Weigh In

CASY has been the subject of a number of analyst reports. Raymond James Financial upgraded shares of Casey’s General Stores from a “market perform” rating to an “outperform” rating and set a $750.00 target price for the company in a report on Thursday, September 10th. Wells Fargo & Company reduced their price target on Casey’s General Stores from $960.00 to $750.00 and set an “overweight” rating on the stock in a report on Wednesday, September 9th. The Goldman Sachs Group set a $750.00 price target on Casey’s General Stores in a research report on Wednesday, September 9th. Royal Bank Of Canada upgraded Casey’s General Stores from a “sector perform” rating to an “outperform” rating and dropped their price objective for the stock from $910.00 to $825.00 in a report on Thursday, October 15th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Casey’s General Stores in a research report on Monday, October 19th. Sixteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $835.38.

Casey’s General Stores Price Performance

Shares of NASDAQ CASY opened at $706.63 on Friday. Casey’s General Stores, Inc. has a 1 year low of $529.84 and a 1 year high of $927.85. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.61. The company’s 50-day moving average is $654.32 and its 200 day moving average is $742.61. The stock has a market capitalization of $26.12 billion, a P/E ratio of 34.04, a P/E/G ratio of 2.31 and a beta of 0.59.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Tuesday, September 8th. The company reported $7.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.78 by $0.59. The company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.56 billion. Casey’s General Stores had a net margin of 4.14% and a return on equity of 19.68%. Casey’s General Stores’s revenue was up 24.3% on a year-over-year basis. During the same period in the prior year, the firm earned $5.77 earnings per share. On average, sell-side analysts expect that Casey’s General Stores, Inc. will post 21.61 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Sunday, November 1st will be issued a $0.65 dividend. The ex-dividend date is Friday, October 30th. This represents a $2.60 dividend on an annualized basis and a yield of 0.4%. Casey’s General Stores’s dividend payout ratio is 12.52%.

About Casey’s General Stores

Casey’s General Stores, Inc. (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods. The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.