Legacy Financial Group LLC Buys 1,645 Shares of Casey's General Stores, Inc. $CASY

Key Points

• Legacy Financial Group LLC increased its Casey’s General Stores stake by 20.3% in the fourth quarter, buying 1,645 shares and bringing its total holding to 9,737 shares worth about $5.38 million.
• Analyst sentiment remains constructive but mixed, with Casey’s holding a “Moderate Buy” consensus rating and an average price target of $725.09 after several firms recently raised their targets.
• Casey’s reported better-than-expected EPS of $3.49 in its latest quarter, though revenue came in below estimates; the company also announced a quarterly dividend of $0.57 per share payable May 15.

Legacy Financial Group LLC lifted its stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 20.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,737 shares of the company's stock after buying an additional 1,645 shares during the quarter. Legacy Financial Group LLC's holdings in Casey's General Stores were worth $5,382,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. FSB Premier Wealth Management Inc. grew its stake in Casey's General Stores by 0.8% during the fourth quarter. FSB Premier Wealth Management Inc. now owns 2,338 shares of the company's stock valued at $1,292,000 after acquiring an additional 18 shares in the last quarter. Central Pacific Bank Trust Division lifted its stake in Casey's General Stores by 52.8% in the 4th quarter. Central Pacific Bank Trust Division now owns 55 shares of the company's stock worth $30,000 after purchasing an additional 19 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Casey's General Stores by 9.1% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 227 shares of the company's stock valued at $128,000 after purchasing an additional 19 shares during the last quarter. ORG Partners LLC boosted its holdings in shares of Casey's General Stores by 47.6% during the 4th quarter. ORG Partners LLC now owns 62 shares of the company's stock valued at $34,000 after purchasing an additional 20 shares during the last quarter. Finally, Scotia Capital Inc. grew its position in shares of Casey's General Stores by 2.9% during the third quarter. Scotia Capital Inc. now owns 720 shares of the company's stock valued at $407,000 after purchasing an additional 20 shares in the last quarter. Institutional investors own 85.63% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CASY shares. The Goldman Sachs Group lifted their target price on Casey's General Stores from $530.00 to $605.00 and gave the stock a "neutral" rating in a report on Wednesday, March 11th. Royal Bank Of Canada raised their price target on 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. BMO Capital Markets reaffirmed a "market perform" rating and issued a $700.00 price objective on shares of Casey's General Stores in a research note on Wednesday, March 4th. Evercore reaffirmed an "outperform" rating and set a $780.00 price objective on shares of Casey's General Stores in a report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. initiated coverage on Casey's General Stores in a research report on Thursday, March 26th. They set a "neutral" rating and a $719.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $725.09.

Casey's General Stores Stock Down 1.2%

Shares of NASDAQ CASY opened at $877.48 on Friday. The firm's 50-day moving average price is $748.46 and its 200-day moving average price is $645.66. 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 $32.43 billion, a price-to-earnings ratio of 50.37, a P/E/G ratio of 2.46 and a beta of 0.65. Casey's General Stores, Inc. has a 12-month low of $430.00 and a 12-month high of $901.00.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its quarterly earnings results on Monday, March 9th. The company reported $3.49 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $4.08 billion. During the same quarter last year, the business posted $2.33 earnings per share. The firm's revenue was up .3% on a year-over-year basis. On average, equities research analysts anticipate that Casey's General Stores, Inc. will post 18.24 EPS for the current fiscal year.

Casey's General Stores Announces Dividend

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

Insider Buying and Selling

In other news, insider Katrina S. Lindsey sold 200 shares of the business'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 transaction of $136,608.00. Following the transaction, 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 the SEC website. Also, Director Mike Spanos purchased 300 shares of the firm's stock in a transaction that occurred on Friday, March 13th. The shares were bought 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 trade 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 currently owned by insiders.

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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