Fifth Third Wealth Advisors LLC Purchases Shares of 1,758 Casey’s General Stores, Inc. (NASDAQ:CASY)

Fifth Third Wealth Advisors LLC purchased a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 1,758 shares of the company’s stock, valued at approximately $671,000.

Several other institutional investors have also recently made changes to their positions in CASY. Rise Advisors LLC purchased a new position in Casey’s General Stores during the first quarter worth about $30,000. Park Place Capital Corp purchased a new position in shares of Casey’s General Stores during the second quarter worth about $31,000. Advisors Asset Management Inc. bought a new position in shares of Casey’s General Stores in the first quarter worth approximately $32,000. V Square Quantitative Management LLC purchased a new stake in Casey’s General Stores in the fourth quarter valued at approximately $35,000. Finally, Bank & Trust Co bought a new stake in Casey’s General Stores during the second quarter valued at approximately $40,000. Institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Trading Up 0.9 %

CASY stock traded up $3.54 during midday trading on Wednesday, hitting $378.36. The company had a trading volume of 127,802 shares, compared to its average volume of 282,005. The stock has a market cap of $14.04 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 2.81 and a beta of 0.80. Casey’s General Stores, Inc. has a 52 week low of $238.44 and a 52 week high of $401.07. The company has a current ratio of 0.87, a quick ratio of 0.42 and a debt-to-equity ratio of 0.52. The stock’s 50 day moving average price is $376.11 and its 200 day moving average price is $335.20.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Tuesday, June 11th. The company reported $2.34 earnings per share for the quarter, beating the consensus estimate 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 quarter in the prior year, the company posted $1.49 EPS. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, equities research analysts expect that Casey’s General Stores, Inc. will post 14 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Thursday, August 1st. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.43. Casey’s General Stores’s payout ratio is currently 14.89%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CASY shares. Jefferies Financial Group raised their price objective 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. Evercore ISI raised their price target on Casey’s General Stores from $410.00 to $435.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Wells Fargo & Company upped their price objective on Casey’s General Stores from $340.00 to $415.00 and gave the stock an “overweight” rating in a report on Thursday, June 13th. Northcoast Research raised Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $410.00 price objective on the stock in a report on Thursday, July 11th. Finally, Benchmark restated a “buy” rating and issued a $410.00 target price on shares of Casey’s General Stores in a research report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $410.22.

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.