Donoghue Forlines LLC Takes Position in Casey's General Stores, Inc. $CASY

Key Points

• Donoghue Forlines LLC initiated a new position in Casey’s General Stores, buying 4,294 shares valued at about $2.37 million in the fourth quarter.
• Insider activity was mixed: Director Mike Spanos bought 300 shares, while insider Katrina S. Lindsey sold 200 shares. Despite the small sale, institutional investors still hold 85.63% of the stock.
• Casey’s reported better-than-expected earnings of $3.49 per share, though revenue came in below estimates. The company also announced a quarterly dividend of $0.57 per share, and analysts currently rate the stock a Moderate Buy with a consensus target price of $725.09.

Donoghue Forlines LLC acquired a new stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,294 shares of the company's stock, valued at approximately $2,373,000.

Other large investors have also made changes to their positions in the company. Cannon Global Investment Management LLC purchased a new position in shares of Casey's General Stores in the third quarter valued at about $1,018,000. Advisors Capital Management LLC lifted its position in shares of Casey's General Stores by 4.4% in the third quarter. Advisors Capital Management LLC now owns 48,355 shares of the company's stock valued at $27,336,000 after acquiring an additional 2,026 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Casey's General Stores by 1.0% in the third quarter. Thrivent Financial for Lutherans now owns 191,156 shares of the company's stock valued at $108,065,000 after acquiring an additional 1,950 shares in the last quarter. GSA Capital Partners LLP lifted its position in shares of Casey's General Stores by 61.6% in the third quarter. GSA Capital Partners LLP now owns 2,572 shares of the company's stock valued at $1,454,000 after acquiring an additional 980 shares in the last quarter. Finally, AE Wealth Management LLC lifted its position in shares of Casey's General Stores by 82.3% in the third quarter. AE Wealth Management LLC now owns 2,574 shares of the company's stock valued at $1,456,000 after acquiring an additional 1,162 shares in the last quarter. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Mike Spanos acquired 300 shares of the firm's 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 completion of the transaction, the director directly owned 4,499 shares in the company, valued at approximately $2,993,769.57. This trade represents a 7.14% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Katrina S. Lindsey sold 200 shares of the company's stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $683.04, for a total value of $136,608.00. Following the sale, the insider owned 4,039 shares in the company, valued at approximately $2,758,798.56. This trade represents a 4.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.54% of the company's stock.

Casey's General Stores Price Performance

NASDAQ:CASY opened at $877.48 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.64 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $32.43 billion, a P/E ratio of 50.37, a P/E/G ratio of 2.46 and a beta of 0.65. Casey's General Stores, Inc. has a 12 month low of $430.00 and a 12 month high of $901.00. The business's 50-day moving average is $748.46 and its 200 day moving average is $645.66.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its 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 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 the consensus estimate of $4.08 billion. During the same period in the previous year, the business earned $2.33 earnings per share. The firm's revenue for the quarter was up .3% on a year-over-year basis. On average, equities research analysts forecast that Casey's General Stores, Inc. will post 18.24 earnings per share for the current fiscal year.

Casey's General Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 1st will be given a dividend of $0.57 per share. The ex-dividend date is Friday, May 1st. This represents a $2.28 dividend on an annualized basis and a yield of 0.3%. Casey's General Stores's dividend payout ratio is 13.09%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Weiss Ratings restated a "buy (b)" rating on shares of Casey's General Stores in a research report on Friday, March 27th. BMO Capital Markets reiterated a "market perform" rating and issued a $700.00 target price on shares of Casey's General Stores in a research report on Wednesday, March 4th. Royal Bank Of Canada boosted their target price on Casey's General Stores from $662.00 to $713.00 and gave the stock a "sector perform" rating in a research report on Tuesday, March 10th. Jefferies Financial Group boosted their target price on Casey's General Stores from $700.00 to $780.00 and gave the stock a "buy" rating in a research report on Tuesday, March 10th. Finally, Wells Fargo & Company boosted their target price on Casey's General Stores from $725.00 to $745.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, Casey's General Stores has an average rating of "Moderate Buy" and a consensus target price of $725.09.

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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