Casey's General Stores, Inc. $CASY Stock Position Increased by Harbour Investments Inc.

Key Points

• Harbour Investments significantly increased its stake in Casey’s General Stores, boosting holdings by 361.9% in the fourth quarter to 5,220 shares worth about $2.89 million.
• 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 forecasts.
• The stock was down 3.1% and closed at $784.38, while analysts currently rate it a Moderate Buy with an average price target of $752.36.

Harbour Investments Inc. boosted its position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 361.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,220 shares of the company's stock after purchasing an additional 4,090 shares during the quarter. Harbour Investments Inc.'s holdings in Casey's General Stores were worth $2,885,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CASY. NewEdge Advisors LLC lifted its position in Casey's General Stores by 6.4% in 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 last quarter. Geneos Wealth Management Inc. lifted its position in Casey's General Stores by 129.6% in 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 last quarter. EverSource Wealth Advisors LLC lifted its position in Casey's General Stores by 431.7% in 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 last quarter. Amundi bought a new stake in Casey's General Stores in the 2nd quarter valued at about $338,000. Finally, Jump Financial LLC lifted its position in Casey's General Stores by 42.6% in 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 last quarter. 85.63% of the stock is currently owned by institutional investors.

Casey's General Stores Stock Down 3.1%

CASY stock opened at $784.38 on Thursday. Casey's General Stores, Inc. has a 52 week low of $433.16 and a 52 week high of $901.00. The company has a market capitalization of $28.99 billion, a price-to-earnings ratio of 45.03, a price-to-earnings-growth ratio of 2.24 and a beta of 0.65. The firm's 50-day moving average is $776.77 and its two-hundred day moving average is $665.14. 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 (NASDAQ:CASY - Get Free Report) last released its quarterly earnings results on Monday, March 9th. The company reported $3.49 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the previous year, the firm earned $2.33 EPS. Casey's General Stores's revenue was up .3% on a year-over-year basis. On average, 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 declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders 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 was Friday, May 1st. Casey's General Stores's payout ratio is 13.09%.

Insider Transactions at Casey's General Stores

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

Wall Street Analyst Weigh In

CASY has been the topic of several recent research reports. The Goldman Sachs Group lifted their price objective 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. William Blair initiated coverage on shares of Casey's General Stores in a research report on Wednesday, May 20th. They issued an "outperform" rating on the stock. Jefferies Financial Group lifted their price objective on shares of 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. Wall Street Zen downgraded shares of Casey's General Stores from a "buy" rating to a "hold" rating in a research report on Saturday, March 21st. Finally, BMO Capital Markets restated 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 research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Casey's General Stores currently has a consensus rating of "Moderate Buy" and an average price target of $752.36.

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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