Inscription Capital LLC Acquires New Position in Casey's General Stores, Inc. $CASY

Key Points

• Inscription Capital opened a new position in Casey’s in Q4, buying 1,776 shares valued at about $982,000, joining other large institutions that collectively own roughly 85.6% of the stock.
• Analysts are broadly positive with a consensus rating of Moderate Buy and an average target of $725.09 after multiple upgrades and raised targets (notably Jefferies to $780 and KeyCorp to $860).
• Casey’s beat quarterly EPS expectations ($3.49 vs. $2.94) while slightly missing revenue estimates, declared a $0.57 quarterly dividend (annualized $2.28, ~0.3% yield), and the shares trade near their 52‑week high.

Inscription Capital LLC bought a new stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,776 shares of the company's stock, valued at approximately $982,000.

A number of other institutional investors have also recently bought and sold shares of CASY. Victory Capital Management Inc. grew its holdings in Casey's General Stores by 35.4% in the third quarter. Victory Capital Management Inc. now owns 791,415 shares of the company's stock valued at $447,403,000 after purchasing an additional 206,777 shares during the period. M&T Bank Corp grew its holdings in Casey's General Stores by 15,024.5% in the fourth quarter. M&T Bank Corp now owns 193,140 shares of the company's stock valued at $106,750,000 after purchasing an additional 191,863 shares during the period. Barclays PLC grew its holdings in Casey's General Stores by 717.6% in the third quarter. Barclays PLC now owns 159,106 shares of the company's stock valued at $89,946,000 after purchasing an additional 139,647 shares during the period. Squarepoint Ops LLC grew its holdings in Casey's General Stores by 146.4% in the third quarter. Squarepoint Ops LLC now owns 157,119 shares of the company's stock valued at $88,823,000 after purchasing an additional 93,366 shares during the period. Finally, Hennessy Advisors Inc. grew its holdings in Casey's General Stores by 361.4% in the third quarter. Hennessy Advisors Inc. now owns 101,500 shares of the company's stock valued at $57,380,000 after purchasing an additional 79,500 shares during the period. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Bank of America assumed coverage on shares of Casey's General Stores in a report on Friday, January 9th. They issued a "buy" rating for the company. Jefferies Financial Group boosted their target price on shares of Casey's General Stores from $700.00 to $780.00 and gave the company a "buy" rating in a report on Tuesday, March 10th. Royal Bank Of Canada boosted their target price on shares of Casey's General Stores from $662.00 to $713.00 and gave the company a "sector perform" rating in a report on Tuesday, March 10th. Weiss Ratings restated a "buy (b)" rating on shares of Casey's General Stores in a report on Friday, March 27th. Finally, KeyCorp boosted their target price on shares of Casey's General Stores from $830.00 to $860.00 and gave the company an "overweight" rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Casey's General Stores currently has a consensus rating of "Moderate Buy" and an average target price of $725.09.

Insider Buying and Selling

In related news, Director Mike Spanos purchased 300 shares of the firm's stock in a transaction on Friday, March 13th. The stock was purchased at an average price of $665.43 per share, for a total transaction of $199,629.00. Following the acquisition, the director directly owned 4,499 shares in the company, valued at $2,993,769.57. The trade was a 7.14% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Katrina S. Lindsey sold 200 shares of the company'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 value of $136,608.00. Following the completion of the transaction, the insider owned 4,039 shares of the company's stock, valued at approximately $2,758,798.56. This represents a 4.72% decrease in their position. The SEC filing for this sale provides additional information. 0.54% of the stock is owned by corporate insiders.

Casey's General Stores Price Performance

CASY opened at $804.50 on Tuesday. The company has a quick ratio of 0.64, a current ratio of 1.04 and a debt-to-equity ratio of 0.61. Casey's General Stores, Inc. has a 52-week low of $430.00 and a 52-week high of $806.49. The company has a 50 day moving average of $710.11 and a two-hundred day moving average of $622.90. The company has a market cap of $29.73 billion, a P/E ratio of 46.18, a P/E/G ratio of 2.60 and a beta of 0.61.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its quarterly earnings data on Monday, March 9th. The company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the previous year, the firm earned $2.33 earnings per share. Casey's General Stores's revenue for the quarter was up .3% on a year-over-year basis. On average, analysts expect that Casey's General Stores, Inc. will post 18.1 earnings per share for the current year.

Casey's General Stores Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders 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 yield of 0.3%. The ex-dividend date is Friday, May 1st. Casey's General Stores's dividend payout ratio is currently 13.09%.

Casey's General Stores 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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