Jefferies Financial Group Inc. Sells 35,955 Shares of Casey's General Stores, Inc. $CASY

Key Points

• Jefferies Financial Group sharply cut its stake in Casey's General Stores during the fourth quarter, selling 35,955 shares and reducing its holdings by 96.4% to 1,357 shares.
• Casey's reported better-than-expected earnings for the latest quarter, posting $3.49 EPS versus estimates of $2.94, though revenue of $3.92 billion came in below forecasts.
• Analysts remain broadly positive on the stock, with a Moderate Buy consensus and an average price target of $752.36, while the shares recently traded around $767.14.

Jefferies Financial Group Inc. decreased its holdings in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 96.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,357 shares of the company's stock after selling 35,955 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Casey's General Stores were worth $750,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CASY. Northwestern Mutual Wealth Management Co. lifted its position 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. lifted its position 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 buying an additional 206,777 shares in the last quarter. M&T Bank Corp lifted its position in shares of Casey's General Stores by 15,024.5% during the 4th quarter. M&T Bank Corp now owns 193,140 shares of the company's stock worth $106,750,000 after buying an additional 191,863 shares in the last quarter. Barclays PLC lifted its position in shares of Casey's General Stores by 717.6% during the 3rd quarter. Barclays PLC now owns 159,106 shares of the company's stock worth $89,946,000 after buying an additional 139,647 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its position in shares of Casey's General Stores by 146.4% during the 3rd quarter. Squarepoint Ops LLC now owns 157,119 shares of the company's stock worth $88,823,000 after buying an additional 93,366 shares in the last quarter. Institutional investors own 85.63% of the company's stock.

Casey's General Stores Trading Down 1.8%

NASDAQ:CASY opened at $767.14 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 stock has a market capitalization of $28.35 billion, a PE ratio of 44.04, a price-to-earnings-growth ratio of 2.16 and a beta of 0.65. The firm's 50 day moving average is $780.50 and its 200 day moving average is $667.59. Casey's General Stores, Inc. has a 12 month low of $433.16 and a 12 month high of $901.00.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly 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. The company had revenue of $3.92 billion for the quarter, compared to analysts' expectations of $4.08 billion. Casey's General Stores had a net margin of 3.83% and a return on equity of 17.56%. Casey's General Stores's revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.33 EPS. Sell-side analysts expect that Casey's General Stores, Inc. will post 18.19 earnings per share for the current year.

Casey's General Stores Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were 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 of this dividend was Friday, May 1st. Casey's General Stores's payout ratio is 13.09%.

Analyst Ratings Changes

Several research firms have commented on CASY. JPMorgan Chase & Co. began coverage on shares of Casey's General Stores in a research report on Thursday, March 26th. They set a "neutral" rating and a $719.00 target price on the stock. Evercore reissued an "outperform" rating and set a $915.00 target price on shares of Casey's General Stores in a research report on Monday, May 18th. Zacks Research raised shares of Casey's General Stores from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 23rd. William Blair began coverage on shares of Casey's General Stores in a research report on Wednesday, May 20th. They set an "outperform" rating on the stock. Finally, KeyCorp lifted their target price on shares of 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. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $752.36.

Insider Buying and Selling

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 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 of the company's stock, valued at approximately $2,758,798.56. The trade was a 4.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mike Spanos purchased 300 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was bought at an average cost 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. This trade represents a 7.14% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.54% of the company's stock.

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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