AdvisorShares Investments LLC Raises Holdings in Casey's General Stores, Inc. $CASY

Key Points

• AdvisorShares Investments LLC sharply increased its stake in Casey’s General Stores by 4,290% in the fourth quarter, ending with 13,170 shares valued at about $7.28 million. The stock became its 16th largest holding and represented roughly 1.2% of the portfolio.
• Casey’s reported stronger-than-expected earnings for the latest quarter, posting $3.49 per share versus the $2.94 consensus estimate. Revenue came in at $3.92 billion, below forecasts, but earnings rose from the prior year.
• Analysts remain mostly constructive on the stock, with several firms raising targets or ratings and the consensus standing at “Moderate Buy.” Meanwhile, the company also paid a quarterly dividend of $0.57 per share, yielding about 0.3% annually.

AdvisorShares Investments LLC lifted its holdings in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 4,290.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 13,170 shares of the company's stock after acquiring an additional 12,870 shares during the period. Casey's General Stores makes up approximately 1.2% of AdvisorShares Investments LLC's investment portfolio, making the stock its 16th largest holding. AdvisorShares Investments LLC's holdings in Casey's General Stores were worth $7,279,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CASY. NewEdge Advisors LLC grew its stake in shares of Casey's General Stores by 6.4% during the first quarter. NewEdge Advisors LLC now owns 1,871 shares of the company's stock worth $812,000 after acquiring an additional 113 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Casey's General Stores by 129.6% during the first quarter. Geneos Wealth Management Inc. now owns 186 shares of the company's stock worth $81,000 after acquiring an additional 105 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Casey's General Stores by 431.7% during the second quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company's stock worth $111,000 after acquiring an additional 177 shares during the last quarter. Amundi acquired a new stake in shares of Casey's General Stores during the second quarter worth about $338,000. Finally, Jump Financial LLC lifted its holdings in shares of Casey's General Stores by 42.6% during the second quarter. Jump Financial LLC now owns 968 shares of the company's stock worth $494,000 after purchasing an additional 289 shares during the period. Hedge funds and other institutional investors own 85.63% of the company's stock.

Casey's General Stores Stock Down 1.8%

Shares of CASY opened at $767.14 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.64 and a current ratio of 1.04. Casey's General Stores, Inc. has a one year low of $433.16 and a one year high of $901.00. The stock has a market capitalization of $28.35 billion, a price-to-earnings ratio of 44.04, a PEG ratio of 2.16 and a beta of 0.65. The stock has a 50 day moving average price of $780.50 and a 200 day moving average price of $667.59.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its quarterly earnings results on Monday, March 9th. The company reported $3.49 EPS for the quarter, topping the consensus estimate of $2.94 by $0.55. Casey's General Stores had a return on equity of 17.56% and a net margin of 3.83%.The firm had revenue of $3.92 billion during the quarter, compared to analysts' expectations of $4.08 billion. During the same period in the previous year, the business earned $2.33 earnings per share. The firm's revenue for the quarter was up .3% on a year-over-year basis. Equities research analysts forecast that Casey's General Stores, Inc. will post 18.19 earnings per share for the current fiscal year.

Casey's General Stores Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Friday, May 1st. Casey's General Stores's payout ratio is presently 13.09%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CASY. Zacks Research raised Casey's General Stores from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 23rd. JPMorgan Chase & Co. began coverage on Casey's General Stores in a report on Thursday, March 26th. They set a "neutral" rating and a $719.00 target price for the company. KeyCorp lifted their target price on Casey's General Stores from $830.00 to $860.00 and gave the stock an "overweight" rating in a report on Friday, April 24th. William Blair began coverage on Casey's General Stores in a report on Wednesday, May 20th. They set an "outperform" rating for the company. Finally, Jefferies Financial Group lifted their target price on Casey's General Stores from $700.00 to $780.00 and gave the stock a "buy" rating in a report on Tuesday, March 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $752.36.

Insider Activity at Casey's General Stores

In related news, insider Katrina S. Lindsey sold 200 shares of the business's stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $683.04, for a total transaction of $136,608.00. Following the completion of the sale, the insider directly owned 4,039 shares in the company, valued at approximately $2,758,798.56. The trade was a 4.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mike Spanos purchased 300 shares of the company's stock in a transaction that occurred on Friday, March 13th. The shares were purchased at an average price of $665.43 per share, with a total value of $199,629.00. Following the completion of the transaction, the director directly owned 4,499 shares of the company's stock, valued at $2,993,769.57. This represents a 7.14% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.54% of the stock is currently owned by insiders.

Casey's General Stores 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.

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