Fox Run Management L.L.C. Acquires New Stake in Casey's General Stores, Inc. $CASY

Key Points

• Fox Run Management L.L.C. disclosed a new fourth-quarter stake in Casey’s General Stores, buying 2,367 shares valued at about $1.31 million.
• Institutional ownership remains very high, with hedge funds and other investors holding 85.63% of the company’s stock; several other funds also added to or initiated positions.
• Casey’s recently posted a strong quarter, reporting $4.37 EPS and $4.57 billion in revenue, both above estimates, while year-over-year diluted EPS and net income rose sharply.

Fox Run Management L.L.C. acquired a new stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,367 shares of the company's stock, valued at approximately $1,308,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Geode Capital Management LLC raised its stake in shares of Casey's General Stores by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 760,438 shares of the company's stock worth $420,416,000 after buying an additional 52,250 shares during the period. North Dakota State Investment Board bought a new position in shares of Casey's General Stores in the fourth quarter worth about $720,000. Jackson Creek Investment Advisors LLC bought a new position in shares of Casey's General Stores in the fourth quarter worth about $1,338,000. Advisors Capital Management LLC raised its stake 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 worth $27,336,000 after buying an additional 2,026 shares during the period. Finally, GSA Capital Partners LLP raised its stake 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 worth $1,454,000 after buying an additional 980 shares during the period. Hedge funds and other institutional investors own 85.63% of the company's stock.

Analyst Upgrades and Downgrades

CASY has been the topic of several recent research reports. Stephens reaffirmed an "overweight" rating and issued a $680.00 price objective on shares of Casey's General Stores in a research note on Tuesday, March 10th. KeyCorp increased their target price on Casey's General Stores from $830.00 to $860.00 and gave the stock an "overweight" rating in a research report on Friday, April 24th. Zacks Research cut Casey's General Stores from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 5th. Wall Street Zen cut Casey's General Stores from a "buy" rating to a "hold" rating in a research report on Saturday, March 21st. Finally, The Goldman Sachs Group increased their target price on Casey's General Stores from $530.00 to $605.00 and gave the stock a "neutral" rating in a research report on Wednesday, March 11th. Nine equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $761.36.

Insider Activity

In related news, Director Mike Spanos acquired 300 shares of the stock in a transaction dated Friday, March 13th. The stock was acquired at an average cost of $665.43 per share, with a total value of $199,629.00. Following the purchase, the director directly owned 4,499 shares of the company's stock, valued at approximately $2,993,769.57. This trade represents a 7.14% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.54% of the stock is owned by insiders.

Key Headlines Impacting Casey's General Stores

Here are the key news stories impacting Casey's General Stores this week:

• Positive Sentiment: Casey's reported Q4 earnings of $4.37 per share, easily topping Wall Street estimates of $3.36, while revenue reached $4.57 billion versus consensus of $4.33 billion. Casey's Announces Fourth Quarter and Fiscal Year Results
• Positive Sentiment: The company also posted sharp year-over-year growth, with diluted EPS up 66.2% and net income rising 65.5%, reinforcing momentum heading into the next fiscal year. Casey's Announces Fourth Quarter and Fiscal Year Results
• Positive Sentiment: Management pointed to strong pizza sales, appetizers, sides, and nonalcoholic beverages as key drivers of the beat, suggesting healthy customer demand and successful product mix. Casey's General Stores Results Helped by Pizza Sales
• Neutral Sentiment: Several reports today highlighted that analysts had expected a strong quarter and were watching the release closely, so part of the move likely reflects earnings anticipation being resolved. Casey's Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
• Negative Sentiment: One headline noted that shares had pulled back into the earnings report, which may indicate some pre-release caution or profit-taking before the beat was announced. Casey's Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Casey's General Stores Price Performance

NASDAQ:CASY opened at $761.18 on Wednesday. The firm has a market capitalization of $28.13 billion, a price-to-earnings ratio of 43.70, a PEG ratio of 2.09 and a beta of 0.61. Casey's General Stores, Inc. has a 1 year low of $481.30 and a 1 year high of $901.00. The business has a 50 day simple moving average of $790.09 and a 200-day simple moving average of $679.24. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.04 and a quick ratio of 0.64.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $1.06. The business had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.33 billion. Casey's General Stores had a return on equity of 17.56% and a net margin of 3.83%.The company's revenue for the quarter was up 14.5% on a year-over-year basis. During the same period last year, the company earned $2.63 EPS. Equities analysts forecast that Casey's General Stores, Inc. will post 18.16 EPS for the current year.

About Casey's General Stores

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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