Monument Capital Management Acquires 2,268 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY)

Monument Capital Management boosted its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 40.8% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,821 shares of the company’s stock after acquiring an additional 2,268 shares during the quarter. Monument Capital Management’s holdings in Casey’s General Stores were worth $2,490,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CASY. BKM Wealth Management LLC purchased a new position in shares of Casey’s General Stores in the 4th quarter worth about $29,000. Rise Advisors LLC bought a new position in Casey’s General Stores during the first quarter valued at approximately $30,000. V Square Quantitative Management LLC purchased a new position in shares of Casey’s General Stores during the fourth quarter worth approximately $35,000. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Casey’s General Stores in the 4th quarter worth approximately $36,000. Finally, ICA Group Wealth Management LLC purchased a new stake in shares of Casey’s General Stores in the 4th quarter valued at $41,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Stock Performance

Shares of Casey’s General Stores stock traded down $2.62 on Wednesday, hitting $371.28. 42,890 shares of the company’s stock were exchanged, compared to its average volume of 297,940. Casey’s General Stores, Inc. has a 1 year low of $238.44 and a 1 year high of $389.43. The company has a 50-day simple moving average of $343.73 and a 200-day simple moving average of $311.40. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.87. The stock has a market capitalization of $13.78 billion, a PE ratio of 27.84, a PEG ratio of 2.76 and a beta of 0.80.

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

Casey’s General Stores Increases Dividend

The firm also recently declared 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. This represents a $2.00 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date is Thursday, August 1st. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.43. Casey’s General Stores’s dividend payout ratio is presently 12.81%.

Wall Street Analyst Weigh In

Several analysts have weighed in on CASY shares. StockNews.com downgraded Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 20th. BMO Capital Markets increased their price target on shares of 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. Benchmark raised their price target on shares of Casey’s General Stores from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. Royal Bank of Canada increased their target price on shares of Casey’s General Stores from $322.00 to $361.00 and gave the stock a “sector perform” rating in a report on Wednesday, June 12th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Casey’s General Stores from $375.00 to $420.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Casey’s General Stores currently has a consensus rating of “Moderate Buy” and a consensus price target of $380.11.

Casey’s General Stores Company 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.