Casey's General Stores, Inc. $CASY Stock Holdings Increased by Geode Capital Management LLC

Key Points

• Geode Capital Management increased its Casey’s General Stores stake by 7.4% in the fourth quarter, adding 52,250 shares to bring its total to 760,438 shares worth about $420.4 million. The firm now owns roughly 2.05% of the company.
• Casey’s recently reported better-than-expected earnings, posting $3.49 EPS versus the $2.94 consensus estimate, though revenue of $3.92 billion came in below expectations. Quarterly revenue still edged up 0.3% year over year.
• The stock has drawn mixed analyst views, with a consensus rating of “Moderate Buy” and an average price target of $752.36. The shares opened at $767.14, while Casey’s also paid a quarterly dividend of $0.57 per share.

Geode Capital Management LLC raised its holdings in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 7.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 760,438 shares of the company's stock after acquiring an additional 52,250 shares during the period. Geode Capital Management LLC owned approximately 2.05% of Casey's General Stores worth $420,416,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CASY. NewEdge Advisors LLC increased its position in shares of Casey's General Stores by 6.4% during the 1st quarter. NewEdge Advisors LLC now owns 1,871 shares of the company's stock valued at $812,000 after purchasing an additional 113 shares during the period. Geneos Wealth Management Inc. increased its position in shares of Casey's General Stores by 129.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 186 shares of the company's stock valued at $81,000 after purchasing an additional 105 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Casey's General Stores by 431.7% during the 2nd 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 period. Amundi acquired a new position in shares of Casey's General Stores during the 2nd quarter valued at $338,000. Finally, Jump Financial LLC increased its position in shares of Casey's General Stores by 42.6% during the 2nd quarter. Jump Financial LLC now owns 968 shares of the company's stock valued at $494,000 after purchasing an additional 289 shares during the period. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Casey's General Stores Stock Performance

Shares of NASDAQ CASY opened at $767.14 on Monday. The company has a quick ratio of 0.64, a current ratio of 1.04 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $28.35 billion, a price-to-earnings ratio of 44.04, a PEG ratio of 2.12 and a beta of 0.61. The stock's fifty day simple moving average is $780.50 and its 200 day simple moving average is $668.54. Casey's General Stores, Inc. has a 52-week low of $433.16 and a 52-week high of $901.00.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its earnings results on Monday, March 9th. The company reported $3.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.94 by $0.55. The business had revenue of $3.92 billion for the quarter, compared to analysts' expectations of $4.08 billion. Casey's General Stores had a return on equity of 17.56% and a net margin of 3.83%.The company's quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.33 EPS. As a group, sell-side 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 business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis 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

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. assumed coverage on Casey's General Stores in a research report on Thursday, March 26th. They set a "neutral" rating and a $719.00 price target on the stock. Evercore reiterated an "outperform" rating and set a $915.00 price target on shares of Casey's General Stores in a research report on Monday, May 18th. Jefferies Financial Group lifted their price target on Casey's General Stores from $700.00 to $780.00 and gave the company a "buy" rating in a research report on Tuesday, March 10th. The Goldman Sachs Group lifted their price target on 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. Finally, 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 report on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $752.36.

Insiders Place Their Bets

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 value of $136,608.00. Following the transaction, the insider directly owned 4,039 shares in the company, valued at $2,758,798.56. The trade was a 4.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mike Spanos bought 300 shares of the firm's stock in a transaction that occurred on Friday, March 13th. The stock was bought at an average price of $665.43 per share, for a total transaction of $199,629.00. Following the completion of the acquisition, the director directly 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. Insiders own 0.54% of the company's stock.

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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