Casey's General Stores, Inc. $CASY is JLB & Associates Inc.'s 7th Largest Position

Key Points

• JLB & Associates increased its stake in Casey's by 3.4% in Q4 to 51,123 shares, making CASY its 7th largest holding (3.8% of JLB's portfolio) with the position valued at about $28.26 million.
• Insider activity showed Katrina S. Lindsey sold 200 shares at an average of $683.04 while director Mike Spanos bought 300 shares at about $665.43, and corporate insiders now own roughly 0.54% of the stock.
• Wall Street sentiment is a Moderate Buy (consensus target $725.09); Casey's recently beat EPS expectations ($3.49 vs. $2.94) and announced a $0.57 quarterly dividend (0.3% yield).

JLB & Associates Inc. grew its stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 3.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,123 shares of the company's stock after buying an additional 1,667 shares during the period. Casey's General Stores accounts for 3.8% of JLB & Associates Inc.'s investment portfolio, making the stock its 7th largest holding. JLB & Associates Inc. owned about 0.14% of Casey's General Stores worth $28,256,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of CASY. Cannon Global Investment Management LLC purchased a new stake in shares of Casey's General Stores in the 3rd quarter valued at about $1,018,000. Advisors Capital Management LLC grew its stake in Casey's General Stores by 4.4% during the 3rd quarter. Advisors Capital Management LLC now owns 48,355 shares of the company's stock worth $27,336,000 after buying an additional 2,026 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in Casey's General Stores by 1.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 191,156 shares of the company's stock worth $108,065,000 after buying an additional 1,950 shares during the last quarter. AE Wealth Management LLC increased its position in Casey's General Stores by 82.3% during the third quarter. AE Wealth Management LLC now owns 2,574 shares of the company's stock worth $1,456,000 after buying an additional 1,162 shares during the period. Finally, GSA Capital Partners LLP increased its position in Casey's General Stores by 61.6% during the third quarter. GSA Capital Partners LLP now owns 2,572 shares of the company's stock worth $1,454,000 after buying an additional 980 shares during the period. 85.63% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Casey's General Stores 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 transaction, the insider owned 4,039 shares in the company, valued at approximately $2,758,798.56. The trade was a 4.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mike Spanos bought 300 shares of the business'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 purchase, the director owned 4,499 shares in the company, valued at approximately $2,993,769.57. This represents a 7.14% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.54% of the company's stock.

Wall Street Analysts Forecast Growth

CASY has been the subject of several research analyst reports. Bank of America initiated coverage on Casey's General Stores in a report on Friday, January 9th. They issued a "buy" rating for the company. The Goldman Sachs Group upped their price target on shares of Casey's General Stores from $530.00 to $605.00 and gave the company a "neutral" rating in a research report on Wednesday, March 11th. BMO Capital Markets reiterated a "market perform" rating and set a $700.00 price target on shares of Casey's General Stores in a research note on Wednesday, March 4th. Deutsche Bank Aktiengesellschaft set a $688.00 price objective on shares of Casey's General Stores in a research report on Thursday, January 8th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Casey's General Stores in a report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $725.09.

Casey's General Stores Price Performance

Casey's General Stores stock opened at $850.95 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.04 and a quick ratio of 0.64. The business has a 50 day simple moving average of $729.25 and a 200-day simple moving average of $634.05. Casey's General Stores, Inc. has a 12 month low of $430.00 and a 12 month high of $867.56. The stock has a market capitalization of $31.45 billion, a PE ratio of 48.85, a price-to-earnings-growth ratio of 2.37 and a beta of 0.65.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings data on Monday, March 9th. The company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.55. The company had revenue of $3.92 billion for the quarter, compared to analysts' expectations of $4.08 billion. Casey's General Stores had a net margin of 3.83% and a return on equity of 17.56%. Casey's General Stores's revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.33 EPS. Equities analysts predict that Casey's General Stores, Inc. will post 18.24 earnings per share for the current year.

Casey's General Stores Announces Dividend

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

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.

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