Journey Advisory Group LLC Makes New Investment in Casey's General Stores, Inc. $CASY

Key Points

• Journey Advisory Group established a new stake in Casey's by purchasing 8,803 shares in Q4, valued at about $4.87 million, while institutional investors now own roughly 85.63% of the stock.
• Casey's recent quarter beat EPS expectations ($3.49 vs. $2.94) and the stock is trading near its 52‑week high (~$754.72), above the consensus "Moderate Buy" average price target of $700.09 (Wells Fargo raised its target to $745).

Journey Advisory Group LLC bought a new stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 8,803 shares of the company's stock, valued at approximately $4,866,000.

A number of other hedge funds have also recently made changes to their positions in CASY. Foster Dykema Cabot & Partners LLC purchased a new position in shares of Casey's General Stores in the 3rd quarter valued at $25,000. Westside Investment Management Inc. grew its stake in Casey's General Stores by 100.0% in the third quarter. Westside Investment Management Inc. now owns 46 shares of the company's stock valued at $26,000 after purchasing an additional 23 shares during the last quarter. Central Pacific Bank Trust Division grew its stake in Casey's General Stores by 52.8% in the fourth quarter. Central Pacific Bank Trust Division now owns 55 shares of the company's stock valued at $30,000 after purchasing an additional 19 shares during the last quarter. True Wealth Design LLC raised its holdings in Casey's General Stores by 350.0% in 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 in the last quarter. Finally, Atlantic Union Bankshares Corp bought a new position in Casey's General Stores in the third quarter worth about $33,000. 85.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on CASY shares. Wells Fargo & Company raised their price target on shares of Casey's General Stores from $725.00 to $745.00 and gave the company an "overweight" rating in a report on Tuesday, March 10th. Northcoast Research lowered shares of Casey's General Stores from a "buy" rating to a "neutral" rating in a research note on Wednesday, January 21st. Stephens reissued an "overweight" rating and set a $680.00 target price on shares of Casey's General Stores in a research report on Tuesday, March 10th. Zacks Research lowered shares of Casey's General Stores from a "strong-buy" rating to a "hold" rating in a report on Monday, February 23rd. Finally, Bank of America assumed coverage on Casey's General Stores in a research report on Friday, January 9th. They set a "buy" rating on the stock. Eight investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $700.09.

Casey's General Stores Price Performance

Shares of NASDAQ:CASY opened at $754.72 on Monday. The company's 50 day moving average is $694.71 and its 200 day moving average is $613.19. Casey's General Stores, Inc. has a twelve month low of $430.00 and a twelve month high of $774.23. The company has a market cap of $27.89 billion, a PE ratio of 43.32, a price-to-earnings-growth ratio of 2.46 and a beta of 0.61. The company has a current ratio of 1.04, a quick ratio of 0.64 and a debt-to-equity ratio of 0.61.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings data on Monday, March 9th. The company reported $3.49 earnings per share for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $4.08 billion. During the same period in the prior year, the business posted $2.33 earnings per share. The firm's revenue for the quarter was up .3% on a year-over-year basis. On average, sell-side analysts forecast that Casey's General Stores, Inc. will post 13.94 EPS for the current year.

Casey's General Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 1st will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, May 1st. Casey's General Stores's payout ratio is 13.09%.

Insider Buying and Selling

In related news, insider Katrina S. Lindsey sold 200 shares of the stock in a transaction 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mike Spanos acquired 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. This represents 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 corporate insiders.

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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