Casey’s General Stores, Inc. (CASY) to Distribute Quarterly Dividend of $0.65 on November 13th

Casey’s General Stores, Inc. (NASDAQ:CASY) declared a quarterly dividend on Thursday, September 3rd. Investors of record on Sunday, November 1st will be given a dividend of $0.65 per share on Friday, November 13th. This represents a $2.60 annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, October 30th.

Casey’s General Stores has raised its dividend payment by an average of 0.1% annually over the last three years and has raised its dividend annually for the last 27 consecutive years. Casey’s General Stores has a dividend payout ratio of 14.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Casey’s General Stores to earn $23.76 per share next year, which means the company should continue to be able to cover its $2.60 annual dividend with an expected future payout ratio of 10.9%.

Casey’s General Stores Stock Down 0.9%

Casey’s General Stores stock opened at $697.54 on Wednesday. Casey’s General Stores has a twelve month low of $497.38 and a twelve month high of $927.85. The firm has a 50 day moving average price of $682.48 and a 200-day moving average price of $738.51. The company has a market capitalization of $25.78 billion, a P/E ratio of 33.60 and a beta of 0.59.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Tuesday, September 8th. The company reported $7.37 EPS for the quarter, topping analysts’ consensus estimates of $6.78 by $0.59. The company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.56 billion. During the same period last year, the firm posted $5.77 EPS. The company’s revenue for the quarter was up 24.3% compared to the same quarter last year. Equities analysts expect that Casey’s General Stores will post 21.61 EPS for the current fiscal year.

Hedge Funds Weigh In On Casey’s General Stores

Hedge funds have recently made changes to their positions in the stock. Kathmere Capital Management LLC lifted its holdings in Casey’s General Stores by 3.5% during the 1st quarter. Kathmere Capital Management LLC now owns 387 shares of the company’s stock worth $282,000 after purchasing an additional 13 shares in the last quarter. Lincoln Capital LLC grew its holdings in Casey’s General Stores by 4.0% during the 2nd quarter. Lincoln Capital LLC now owns 366 shares of the company’s stock valued at $291,000 after buying an additional 14 shares in the last quarter. Jag Capital Management LLC grew its holdings in Casey’s General Stores by 1.0% during the 1st quarter. Jag Capital Management LLC now owns 1,753 shares of the company’s stock valued at $1,276,000 after buying an additional 18 shares in the last quarter. Anchor Investment Management LLC increased its position in shares of Casey’s General Stores by 72.0% during the second quarter. Anchor Investment Management LLC now owns 43 shares of the company’s stock valued at $34,000 after buying an additional 18 shares during the period. Finally, Renasant Bank increased its position in shares of Casey’s General Stores by 5.7% during the second quarter. Renasant Bank now owns 369 shares of the company’s stock valued at $293,000 after buying an additional 20 shares during the period. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Casey’s General Stores Company Profile

Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.