Casey's General Stores, Inc. $CASY Shares Purchased by Rip Road Capital Partners LP

Key Points

• Rip Road Capital Partners LP increased its stake in Casey's General Stores, acquiring an additional 612 shares to hold a total of 15,278 shares, making it the 5th largest holding in their portfolio.
• Casey's General Stores received several upgrades from analysts, including a raise to "buy" from Wall Street Zen and target price increases from multiple firms, reflecting a consensus rating of "Moderate Buy".
• Insider transactions included significant sales by CEO Katrina S. Lindsey and CFO Stephen P. Bramlage on June 17th, resulting in a substantial decrease in their ownership stakes by over 30% and 24%, respectively.

Rip Road Capital Partners LP increased its position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 4.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,278 shares of the company's stock after acquiring an additional 612 shares during the period. Casey's General Stores makes up about 7.3% of Rip Road Capital Partners LP's portfolio, making the stock its 5th biggest holding. Rip Road Capital Partners LP's holdings in Casey's General Stores were worth $6,631,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC raised its stake in Casey's General Stores by 4.1% in the 1st quarter. Flagship Harbor Advisors LLC now owns 590 shares of the company's stock worth $256,000 after acquiring an additional 23 shares during the last quarter. Burns J W & Co. Inc. NY raised its stake in Casey's General Stores by 2.1% in the 1st quarter. Burns J W & Co. Inc. NY now owns 1,204 shares of the company's stock worth $522,000 after acquiring an additional 25 shares during the last quarter. Sunbelt Securities Inc. raised its stake in Casey's General Stores by 1.4% in the 1st quarter. Sunbelt Securities Inc. now owns 1,870 shares of the company's stock worth $812,000 after acquiring an additional 26 shares during the last quarter. Iron Horse Wealth Management LLC raised its stake in Casey's General Stores by 40.0% in the 1st quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company's stock worth $40,000 after acquiring an additional 26 shares during the last quarter. Finally, Menard Financial Group LLC raised its stake in Casey's General Stores by 2.1% in the 1st quarter. Menard Financial Group LLC now owns 1,290 shares of the company's stock worth $603,000 after acquiring an additional 27 shares during the last quarter. Hedge funds and other institutional investors own 85.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CASY shares. Stephens reaffirmed an "overweight" rating and set a $530.00 price target on shares of Casey's General Stores in a research report on Tuesday. The Goldman Sachs Group increased their price target on Casey's General Stores from $385.00 to $450.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 11th. Wall Street Zen raised Casey's General Stores from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. BMO Capital Markets increased their price target on Casey's General Stores from $450.00 to $515.00 and gave the stock a "market perform" rating in a research report on Wednesday, June 11th. Finally, Royal Bank Of Canada increased their price target on Casey's General Stores from $468.00 to $542.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 9th. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $480.62.

Casey's General Stores Price Performance

Shares of NASDAQ:CASY traded up $19.80 during trading on Tuesday, reaching $541.30. 1,285,170 shares of the company's stock traded hands, compared to its average volume of 267,970. Casey's General Stores, Inc. has a fifty-two week low of $362.42 and a fifty-two week high of $543.20. The company has a quick ratio of 0.48, a current ratio of 0.92 and a debt-to-equity ratio of 0.69. The firm has a market cap of $20.13 billion, a PE ratio of 34.74 and a beta of 0.66. The company has a 50-day simple moving average of $514.22 and a 200-day simple moving average of $469.70.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings data on Monday, September 8th. The company reported $5.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.02 by $0.75. Casey's General Stores had a return on equity of 17.00% and a net margin of 3.54%.The company had revenue of $4.57 billion for the quarter, compared to analysts' expectations of $4.47 billion. During the same period in the previous year, the firm posted $4.83 EPS. Casey's General Stores's revenue was up 11.5% compared to the same quarter last year. As a group, analysts predict that Casey's General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey's General Stores Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Saturday, November 1st will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, October 31st. Casey's General Stores's payout ratio is presently 15.57%.

Insider Activity

In related news, Director Mike Spanos bought 200 shares of the company's stock in a transaction that occurred on Monday, June 30th. The stock was purchased at an average price of $503.18 per share, for a total transaction of $100,636.00. Following the acquisition, the director owned 3,560 shares of the company's stock, valued at approximately $1,791,320.80. This trade represents a 5.95% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Katrina S. Lindsey sold 2,000 shares of Casey's General Stores stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $506.07, for a total transaction of $1,012,140.00. Following the completion of the sale, the insider owned 4,636 shares of the company's stock, valued at $2,346,140.52. This trade represents a 30.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,646 shares of company stock worth $22,136,614. 0.54% of the stock is owned by company insiders.

Casey's General Stores Profile

Casey's General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.