Eurizon Capital SGR S.p.A. Takes Position in Casey's General Stores, Inc. $CASY

Key Points

• Eurizon Capital SGR opened a new position in Casey’s General Stores, buying 2,004 shares worth about $1.11 million in the fourth quarter.
• Institutional ownership remains very high at 85.63%, with several other large investors also increasing their stakes in the company.
• Analyst sentiment is broadly positive: Casey’s has a Moderate Buy consensus rating and a consensus price target of $752.36, while the stock has also been trading near its 52-week high after a strong earnings beat.

Eurizon Capital SGR S.p.A. acquired a new stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 2,004 shares of the company's stock, valued at approximately $1,111,000.

Several other institutional investors have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its stake in Casey's General Stores by 179,938.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,659,164 shares of the company's stock valued at $1,469,747,000 after acquiring an additional 2,657,687 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Casey's General Stores by 35.4% during the 3rd quarter. Victory Capital Management Inc. now owns 791,415 shares of the company's stock worth $447,403,000 after acquiring an additional 206,777 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Casey's General Stores by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 760,438 shares of the company's stock worth $420,416,000 after acquiring an additional 52,250 shares during the last quarter. Franklin Resources Inc. grew its holdings in Casey's General Stores by 7.0% in the 3rd quarter. Franklin Resources Inc. now owns 758,212 shares of the company's stock valued at $428,632,000 after buying an additional 49,319 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Casey's General Stores by 5.0% in the 3rd quarter. Invesco Ltd. now owns 507,998 shares of the company's stock valued at $287,182,000 after buying an additional 24,091 shares in the last quarter. Institutional investors own 85.63% of the company's stock.

Wall Street Analysts Forecast Growth

CASY has been the topic of a number of research reports. Zacks Research raised Casey's General Stores from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 23rd. UBS Group upped their price objective on Casey's General Stores from $600.00 to $706.00 and gave the stock a "neutral" rating in a research report on Wednesday, March 11th. Jefferies Financial Group increased their target price 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. Royal Bank Of Canada upped their price target on shares of Casey's General Stores from $662.00 to $713.00 and gave the company a "sector perform" rating in a research report on Tuesday, March 10th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Casey's General Stores in a research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $752.36.

Insider Activity at Casey's General Stores

In related news, insider Katrina S. Lindsey sold 200 shares of Casey's General Stores 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 of the company's stock, valued at $2,758,798.56. The trade was a 4.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mike Spanos acquired 300 shares of the business's stock in a transaction on Friday, March 13th. The stock was acquired 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 approximately $2,993,769.57. The trade was a 7.14% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.54% of the stock is owned by insiders.

Casey's General Stores Trading Up 1.2%

Shares of Casey's General Stores stock opened at $754.21 on Wednesday. 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 52 week low of $433.16 and a 52 week high of $901.00. The stock has a 50 day moving average price of $782.11 and a two-hundred day moving average price of $669.99. The stock has a market capitalization of $27.88 billion, a PE ratio of 43.30, a price-to-earnings-growth ratio of 2.06 and a beta of 0.61.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings data on Monday, March 9th. The company reported $3.49 EPS for the quarter, beating 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 firm had revenue of $3.92 billion during the quarter, compared to analysts' expectations of $4.08 billion. During the same quarter last year, the firm posted $2.33 earnings per share. The company's revenue for the quarter was up .3% compared to the same quarter last year. As a group, equities analysts anticipate 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 given a dividend of $0.57 per share. The ex-dividend date of this dividend was Friday, May 1st. This represents a $2.28 annualized dividend and a dividend yield of 0.3%. Casey's General Stores's payout ratio is presently 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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