Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 3.22MM shares of Casey's General Stores Inc (CASY). This represents 8.6% of the company.
In their previous filing dated February 1, 2022 they reported 3.07MM shares and 8.30% of the company, an increase in shares of 4.76% and an increase in total ownership of 0.30% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 16.13% Upside
As of February 2, 2023, the average one-year price target for Casey's General Stores is $260.44. The forecasts range from a low of $174.73 to a high of $305.55. The average price target represents an increase of 16.13% from its latest reported closing price of $224.27.
The projected annual revenue for Casey's General Stores is $16,101MM, an increase of 7.76%. The projected annual EPS is $11.09, a decrease of 0.40%.
Fund Sentiment
There are 919 funds or institutions reporting positions in Casey's General Stores. This is an increase of 38 owner(s) or 4.31%.
Average portfolio weight of all funds dedicated to US:CASY is 0.3298%, an increase of 14.9780%. Total shares owned by institutions increased in the last three months by 2.00% to 39,918K shares.
What are large shareholders doing?
T. Rowe Price Investment Management holds 3,023,679 shares representing 8.12% ownership of the company.
RPMGX - T. Rowe Price Mid-Cap Growth Fund holds 1,500,000 shares representing 4.03% ownership of the company. In it's prior filing, the firm reported owning 1,550,000 shares, representing a decrease of 3.33%. The firm increased its portfolio allocation in CASY by 11.92% over the last quarter.
Clearbridge Investments holds 1,388,290 shares representing 3.73% ownership of the company. In it's prior filing, the firm reported owning 1,384,465 shares, representing an increase of 0.28%. The firm increased its portfolio allocation in CASY by 18.78% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,103,851 shares representing 2.96% ownership of the company. In it's prior filing, the firm reported owning 1,092,366 shares, representing an increase of 1.04%. The firm increased its portfolio allocation in CASY by 15.32% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 1,088,520 shares representing 2.92% ownership of the company. In it's prior filing, the firm reported owning 1,067,145 shares, representing an increase of 1.96%. The firm increased its portfolio allocation in CASY by 12.23% over the last quarter.
Casey's General Stores Declares $0.38 Dividend
Casey's General Stores said on December 6, 2022 that its board of directors declared a regular quarterly dividend of $0.38 per share ($1.52 annualized). Shareholders of record as of January 31, 2023 will receive the payment on February 15, 2023. Previously, the company paid $0.38 per share.
At the current share price of $224.27 / share, the stock's dividend yield is 0.68%. Looking back five years and taking a sample every week, the average dividend yield has been 0.79%, the lowest has been 0.60%, and the highest has been 1.15%. The standard deviation of yields is 0.12 (n=236).
The current dividend yield is 0.93 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.14. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.19%, demonstrating that it has increased its dividend over time.
Casey`s General Stores Background Information
(This description is provided by the company.)
Casey's General Stores is a Fortune 500 company operating over 2,200 convenience stores in 16 states. Founded more than 50 years ago, the company has grown to become the fourth-largest convenience store retailer and the fifth-largest pizza chain in the United States. Casey's provides freshly prepared foods, quality fuel, and friendly service at every location. Guests can enjoy famous, made-from-scratch pizza, donuts, other assorted bakery items, and a wide selection of beverages and snacks.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
