Belpointe Asset Management LLC Makes New Investment in Casey’s General Stores, Inc. (NASDAQ:CASY)

Belpointe Asset Management LLC acquired a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY – Get Rating) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 161 shares of the company’s stock, valued at approximately $36,000.

Other large investors also recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its stake in Casey’s General Stores by 152.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 384,281 shares of the company’s stock valued at $76,153,000 after purchasing an additional 232,277 shares during the last quarter. Wedge Capital Management L L P NC bought a new position in shares of Casey’s General Stores during the fourth quarter worth approximately $33,861,000. Renaissance Technologies LLC increased its holdings in shares of Casey’s General Stores by 2,025.8% during the third quarter. Renaissance Technologies LLC now owns 118,872 shares of the company’s stock worth $24,074,000 after purchasing an additional 113,280 shares during the period. Weiss Multi Strategy Advisers LLC bought a new position in shares of Casey’s General Stores during the first quarter worth approximately $21,799,000. Finally, WealthPlan Investment Management LLC bought a new position in shares of Casey’s General Stores during the third quarter worth approximately $17,160,000. 84.74% of the stock is currently owned by institutional investors and hedge funds.

Casey’s General Stores Price Performance

NASDAQ CASY opened at $231.91 on Friday. The company has a quick ratio of 0.66, a current ratio of 1.10 and a debt-to-equity ratio of 0.63. The company has a market cap of $8.64 billion, a PE ratio of 19.28 and a beta of 0.82. Casey’s General Stores, Inc. has a 52 week low of $181.40 and a 52 week high of $249.90. The firm’s 50-day simple moving average is $223.66 and its two-hundred day simple moving average is $226.15.

Casey’s General Stores (NASDAQ:CASY – Get Rating) last released its quarterly earnings data on Wednesday, March 8th. The company reported $2.36 EPS for the quarter, topping the consensus estimate of $1.83 by $0.53. Casey’s General Stores had a net margin of 2.96% and a return on equity of 18.02%. The company had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same period last year, the firm earned $1.71 EPS. Casey’s General Stores’s revenue for the quarter was up 9.3% on a year-over-year basis. Research analysts predict that Casey’s General Stores, Inc. will post 11.66 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Monday, May 1st were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 0.66%. The ex-dividend date was Friday, April 28th. Casey’s General Stores’s dividend payout ratio is presently 12.64%.

Wall Street Analyst Weigh In

CASY has been the topic of a number of recent analyst reports. Northcoast Research raised shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $247.00 to $270.00 in a research note on Friday, April 14th. Credit Suisse Group reaffirmed a “neutral” rating and set a $254.00 target price on shares of Casey’s General Stores in a research note on Thursday, March 9th. Benchmark reaffirmed a “buy” rating and set a $275.00 target price on shares of Casey’s General Stores in a research note on Thursday, March 9th. JPMorgan Chase & Co. upgraded shares of Casey’s General Stores from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $173.00 to $211.00 in a report on Friday, March 3rd. Finally, Royal Bank of Canada lifted their price target on shares of Casey’s General Stores from $273.00 to $280.00 in a report on Thursday. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $261.20.

About Casey’s General Stores

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Casey’s General Stores, Inc engages in the 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.