Hennessy Advisors Inc. Has $53.01 Million Stock Position in Casey's General Stores, Inc. $CASY

Key Points

• Hennessy Advisors decreased its stake in Casey's by 5.5% to 95,900 shares worth about $53.01 million, representing roughly 1.9% of Hennessy's portfolio and ~0.26% of Casey's, making CASY its third-largest holding.
• Analysts have a consensus rating of Moderate Buy with a consensus target of about $700.09; Jefferies recently raised its target to $780 (Buy) while JPMorgan initiated coverage at Neutral with a $719 target.
• Casey's reported quarterly EPS of $3.49, beating estimates ($2.94) though revenue of $3.92 billion missed expectations, and announced a quarterly dividend of $0.57 (annualized $2.28, yield ~0.3%; ex-dividend May 1).

Hennessy Advisors Inc. decreased its holdings in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 5.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 95,900 shares of the company's stock after selling 5,600 shares during the quarter. Casey's General Stores accounts for about 1.9% of Hennessy Advisors Inc.'s portfolio, making the stock its 3rd largest holding. Hennessy Advisors Inc. owned approximately 0.26% of Casey's General Stores worth $53,005,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Foster Dykema Cabot & Partners LLC bought a new position in Casey's General Stores during the 3rd quarter worth $25,000. Westside Investment Management Inc. lifted its stake in Casey's General Stores by 100.0% during the third quarter. Westside Investment Management Inc. now owns 46 shares of the company's stock worth $26,000 after purchasing an additional 23 shares during the last quarter. True Wealth Design LLC lifted its stake in Casey's General Stores by 350.0% during the fourth quarter. True Wealth Design LLC now owns 54 shares of the company's stock worth $30,000 after purchasing an additional 42 shares during the last quarter. Central Pacific Bank Trust Division lifted its stake in Casey's General Stores by 52.8% during the fourth quarter. Central Pacific Bank Trust Division now owns 55 shares of the company's stock worth $30,000 after purchasing an additional 19 shares during the last quarter. Finally, Atlantic Union Bankshares Corp bought a new stake in Casey's General Stores during the third quarter worth $33,000. Institutional investors and hedge funds own 85.63% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. assumed coverage on Casey's General Stores in a research note on Thursday, March 26th. They set a "neutral" rating and a $719.00 target price for the company. 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 note on Tuesday, March 10th. 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 note on Tuesday, March 10th. KeyCorp reissued an "overweight" rating and set a $700.00 target price on shares of Casey's General Stores in a research note on Thursday, February 12th. Finally, Deutsche Bank Aktiengesellschaft set a $688.00 target price on Casey's General Stores in a research note on Thursday, January 8th. Eight research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Casey's General Stores presently has a consensus rating of "Moderate Buy" and a consensus target price of $700.09.

Casey's General Stores Stock Performance

Shares of CASY opened at $754.72 on Monday. Casey's General Stores, Inc. has a one year low of $430.00 and a one year high of $774.23. The stock has a 50-day moving average of $694.71 and a 200-day moving average of $613.19. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.04 and a quick ratio of 0.64. The company has a market cap of $27.89 billion, a PE ratio of 43.32, a P/E/G ratio of 2.46 and a beta of 0.61.

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. 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 analysts' expectations of $4.08 billion. During the same period last year, the business earned $2.33 EPS. Casey's General Stores's quarterly revenue was up .3% compared to the same quarter last year. On average, equities research analysts predict that Casey's General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey's General Stores Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 1st will be 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 is Friday, May 1st. Casey's General Stores's dividend payout ratio is currently 13.09%.

Insider Transactions at Casey's General Stores

In related news, insider Katrina S. Lindsey sold 200 shares of the company's stock in a transaction 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 approximately $2,758,798.56. This represents a 4.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mike Spanos purchased 300 shares of the business's stock in a transaction that occurred on Friday, March 13th. The shares were purchased 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 owned 4,499 shares of the company's stock, valued at $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. Corporate 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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