Casey's General Stores (CASY) Declares $0.38 Dividend
Casey's General Stores said on March 7, 2023 that its board of directors declared a regular quarterly dividend of $0.38 per share ($1.52 annualized). Previously, the company paid $0.38 per share.
Shares must be purchased before the ex-div date of April 28, 2023 to qualify for the dividend. Shareholders of record as of May 1, 2023 will receive the payment on May 15, 2023.
At the current share price of $217.82 / share, the stock's dividend yield is 0.70%. 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 0.74 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.13. 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.
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Analyst Price Forecast Suggests 23.71% Upside
As of March 8, 2023, the average one-year price target for Casey's General Stores is $269.47. The forecasts range from a low of $224.22 to a high of $299.25. The average price target represents an increase of 23.71% from its latest reported closing price of $217.82.
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The projected annual revenue for Casey's General Stores is $16,101MM, an increase of 5.76%. The projected annual non-GAAP EPS is $11.09.
What is the Fund Sentiment?
There are 998 funds or institutions reporting positions in Casey's General Stores. This is an increase of 103 owner(s) or 11.51% in the last quarter. Average portfolio weight of all funds dedicated to CASY is 0.33%, an increase of 5.81%. Total shares owned by institutions increased in the last three months by 0.64% to 39,912K shares. The put/call ratio of CASY is 1.01, indicating a bearish outlook.
What are Large Shareholders Doing?
T. Rowe Price Investment Management holds 2,524K shares representing 6.77% ownership of the company. In it's prior filing, the firm reported owning 3,024K shares, representing a decrease of 19.80%. The firm decreased its portfolio allocation in CASY by 11.19% over the last quarter.
Clearbridge Investments holds 1,258K shares representing 3.38% ownership of the company. In it's prior filing, the firm reported owning 1,388K shares, representing a decrease of 10.36%. The firm decreased its portfolio allocation in CASY by 1.68% over the last quarter.
RPMGX - T. Rowe Price Mid-Cap Growth Fund holds 1,250K shares representing 3.35% ownership of the company. In it's prior filing, the firm reported owning 1,500K shares, representing a decrease of 20.00%. The firm decreased its portfolio allocation in CASY by 12.57% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 1,150K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 1,089K shares, representing an increase of 5.39%. The firm increased its portfolio allocation in CASY by 2.20% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,132K shares representing 3.04% ownership of the company. In it's prior filing, the firm reported owning 1,104K shares, representing an increase of 2.45%. The firm increased its portfolio allocation in CASY by 4.87% over the last quarter.
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.