Casey's General Stores, Inc. $CASY Shares Bought by Intech Investment Management LLC

Key Points

• Intech Investment Management increased its stake in Casey’s General Stores by 57.9% in the fourth quarter, ending with 18,800 shares valued at about $10.4 million.
• Insider activity was mixed: insider Katrina S. Lindsey sold 200 shares, while director Mike Spanos bought 300 shares of CASY stock in March.
• Analysts remain broadly positive on the stock, with a consensus rating of “Moderate Buy” and an average price target of $752.36; Wells Fargo recently raised its target to $910.

Intech Investment Management LLC grew its holdings in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 57.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,800 shares of the company's stock after purchasing an additional 6,894 shares during the period. Intech Investment Management LLC owned approximately 0.05% of Casey's General Stores worth $10,391,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CASY. Foster Dykema Cabot & Partners LLC acquired a new position in Casey's General Stores during the 3rd quarter worth approximately $25,000. Westside Investment Management Inc. increased its position in Casey's General Stores by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 46 shares of the company's stock worth $26,000 after purchasing an additional 23 shares during the period. Central Pacific Bank Trust Division increased its position in Casey's General Stores by 52.8% during the 4th quarter. Central Pacific Bank Trust Division now owns 55 shares of the company's stock worth $30,000 after purchasing an additional 19 shares during the period. True Wealth Design LLC increased its position in Casey's General Stores by 350.0% during the 4th quarter. True Wealth Design LLC now owns 54 shares of the company's stock worth $30,000 after purchasing an additional 42 shares during the period. Finally, Atlantic Union Bankshares Corp purchased a new stake in shares of Casey's General Stores during the 3rd quarter worth approximately $33,000. Institutional investors and hedge funds own 85.63% of the company's stock.

Insiders Place Their Bets

In other Casey's General Stores news, insider Katrina S. Lindsey sold 200 shares of the 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 transaction, the insider owned 4,039 shares of the company's stock, valued at $2,758,798.56. This represents a 4.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Mike Spanos purchased 300 shares of Casey's General Stores stock in a transaction on Friday, March 13th. The shares were acquired at an average cost of $665.43 per share, for a total transaction of $199,629.00. Following the purchase, the director owned 4,499 shares in the company, valued at approximately $2,993,769.57. This trade represents a 7.14% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CASY shares. William Blair started coverage on Casey's General Stores in a research note on Wednesday, May 20th. They set an "outperform" rating on the stock. Stephens reissued an "overweight" rating and set a $680.00 price target on shares of Casey's General Stores in a research note on Tuesday, March 10th. The Goldman Sachs Group boosted their price target on 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. Wells Fargo & Company boosted their price target on Casey's General Stores from $745.00 to $910.00 and gave the stock an "overweight" rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. started coverage on Casey's General Stores in a research note on Thursday, March 26th. They set a "neutral" rating and a $719.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $752.36.

Casey's General Stores Price Performance

Shares of NASDAQ:CASY opened at $767.14 on Friday. The business's fifty day moving average price is $780.50 and its two-hundred day moving average price is $667.59. The stock has a market cap of $28.35 billion, a PE ratio of 44.04, a price-to-earnings-growth ratio of 2.16 and a beta of 0.65. 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.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its quarterly earnings results on Monday, March 9th. The company reported $3.49 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $3.92 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the prior year, the company posted $2.33 EPS. The business's revenue for the quarter was up .3% compared to the same quarter last year. On average, 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. Shareholders of record on Friday, May 1st were paid 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 is currently 13.09%.

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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