Anchor Capital Advisors LLC Has $53.36 Million Stake in Casey's General Stores, Inc. $CASY

Key Points

• Anchor Capital Advisors trimmed its Casey’s General Stores position by 1.5% in the fourth quarter, but still held 96,536 shares valued at about $53.36 million. Casey’s remains one of the firm’s larger holdings, representing roughly 1.5% of its portfolio.
• Casey’s reported better-than-expected earnings for the quarter, posting $3.49 per share versus the $2.94 consensus estimate. Revenue came in at $3.92 billion, slightly below expectations, while same-quarter revenue was up only 0.3% year over year.
• The stock has drawn continued attention from analysts and investors, with several firms raising price targets and the consensus rating sitting at Moderate Buy. Casey’s also recently paid a quarterly dividend of $0.57 per share, equal to an annualized yield of about 0.3%.

Anchor Capital Advisors LLC cut its position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 1.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 96,536 shares of the company's stock after selling 1,455 shares during the quarter. Casey's General Stores accounts for about 1.5% of Anchor Capital Advisors LLC's portfolio, making the stock its 16th largest holding. Anchor Capital Advisors LLC owned about 0.26% of Casey's General Stores worth $53,356,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CASY. NewEdge Advisors LLC lifted its holdings in shares of Casey's General Stores by 6.4% in 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. increased its holdings 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 buying an additional 105 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Casey's General Stores by 431.7% in the second quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company's stock valued at $111,000 after purchasing an additional 177 shares during the last quarter. Amundi acquired a new stake in shares of Casey's General Stores during the second quarter valued at about $338,000. Finally, Jump Financial LLC grew 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 last quarter. Institutional investors own 85.63% of the company's stock.

Casey's General Stores Stock Performance

Shares of CASY stock opened at $754.21 on Wednesday. The firm has a market capitalization of $27.88 billion, a PE ratio of 43.30, a price-to-earnings-growth ratio of 2.06 and a beta of 0.61. The firm has a fifty day simple moving average of $782.11 and a two-hundred day simple moving average of $669.99. The company has a current ratio of 1.04, a quick ratio of 0.64 and a debt-to-equity ratio of 0.61. Casey's General Stores, Inc. has a 12 month low of $433.16 and a 12 month high of $901.00.

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

Casey's General Stores Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, May 1st. Casey's General Stores's dividend payout ratio (DPR) is presently 13.09%.

Insider Buying and Selling

In related news, insider Katrina S. Lindsey sold 200 shares of Casey's General Stores stock in a transaction 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 sale, the insider directly owned 4,039 shares in the company, valued at approximately $2,758,798.56. This trade represents a 4.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mike Spanos bought 300 shares of the firm's stock in a transaction dated Friday, March 13th. The shares were acquired at an average cost of $665.43 per share, with a total value of $199,629.00. Following the completion of the transaction, the director owned 4,499 shares in the company, valued at approximately $2,993,769.57. The trade was a 7.14% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.54% of the company's stock.

Wall Street Analysts Forecast Growth

CASY has been the subject of several recent research reports. Wells Fargo & Company upped their price objective on Casey's General Stores from $745.00 to $910.00 and gave the company an "overweight" rating in a research note on Tuesday, May 26th. William Blair initiated coverage on shares of Casey's General Stores in a research note on Wednesday, May 20th. They set an "outperform" rating for the company. Zacks Research upgraded shares of Casey's General Stores from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 23rd. The Goldman Sachs Group boosted their price objective on shares of Casey's General Stores from $530.00 to $605.00 and gave the stock a "neutral" rating in a research note on Wednesday, March 11th. Finally, Royal Bank Of Canada lifted their price objective on Casey's General Stores from $662.00 to $713.00 and gave the stock a "sector perform" rating in a research note on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $752.36.

About Casey's General Stores

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.

Want to see what other hedge funds are holding CASY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Casey's General Stores, Inc. (NASDAQ:CASY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.