On May 13, 2023, financial news outlets reported that Raymond James & Associates had increased its holdings in shares of Casey’s General Stores by 5.0% during the previous quarter. According to the Securities and Exchange Commission, the fund now owns a total of 182,895 shares – equivalent to 0.49% of the company’s stock – with a total worth of $41,033,000.
Casey’s General Stores is primarily focused on the management and operation of convenience stores and gasoline stations across America. The company offers customers a range of products including food, beverages, tobacco products, health and beauty aids, automotive products, as well as other non-food items.
Shares of CASY stock opened at $230.48 on May 13 and are considered to have a market capitalization value of around $8.59 billion. With a PE ratio of 19.16 and a beta rating currently set at 0.82; over the preceding twelve months since May 13 last year, Casey’s General Stores has achieved both its highest ever share price record ($249.90) while also falling below what was up until then their lowest share price ($181.40).
As we move further into May it is interesting to note that the business currently operates with a current ratio of 1:10; indicating that it may not be in good economic shape when faced with unexpected adversity such as poor sales in an economy downturn or if faced with sudden legal challenges before or after Quarter Two reports are issued.
However amidst all these fluctuations pertaining to share prices rises or dips; it is expected that Casey’s General Stores – will continue to push forward with their overall business goals and objectives for developing strong relationships within local communities across America through their provision of essentials via service station convenience stores that daily address consumers’ basic needs so long as there isn’t any unforeseen volatility in oil prices going forward throughout this year.
Casey’s General Stores: Positioned for Growth with Significant Institutional Backing
Casey’s General Stores, Inc. is a convenience store and gasoline station franchise that operates in the United States. The company has been experiencing growth recently, as demonstrated by the many institutional investors and hedge funds that have recently modified their holdings in the business.
American Century Companies Inc., Private Advisor Group LLC, PNC Financial Services Group Inc., Great West Life Assurance Co. Can, and Yousif Capital Management LLC are among these investors. Together they own approximately 84.74% of Casey’s General Stores’ stock, indicating widespread confidence in the company’s performance.
Analysts have also been bullish on Casey’s General Stores’ future prospects, with several firms upgrading their ratings on the stock. JPMorgan Chase & Co., StockNews.com, Royal Bank of Canada, Credit Suisse Group, and Northcoast Research have all issued positive outlooks for the company based on its financial results and overall market position.
For example, the company recently reported earnings per share for Q1 2023 that were far above analysts’ expectations – $2.36 compared to an estimated $1.83 – along with solid revenue figures of $3.33 billion for the quarter. These results demonstrate both steady growth momentum and efficient operations.
In addition to strong financial performance, Casey’s General Stores also offers a wide range of products and services for its customers such as freshly prepared food items, self-service gasoline options, health and beauty aids as well as non-food items like automotive products.
Recently announced quarterly dividends add to investor confidence in Casey’s General Store; it exudes stability with a healthy payout ratio of 12.64%.
This unique blend of various indicators make Casey’s General Stores an institutionally backed stalwart with room for continued upward movement – good news for current shareholders or those prospective investors looking to get in an investment or two.