Natixis Advisors LLC Sells 3,271 Shares of Casey's General Stores, Inc. $CASY

Key Points

• Natixis Advisors LLC reduced its Casey’s General Stores stake by 6.4% in the fourth quarter, selling 3,271 shares and ending with 47,731 shares valued at about $26.4 million.
• Analyst sentiment remains positive overall, with Casey’s carrying a “Moderate Buy” consensus and an average price target of $761.36; several firms recently raised targets, including Jefferies at $780 and RBC at $713.
• Casey’s reported strong quarterly earnings, posting $3.49 EPS versus expectations of $2.94, though revenue came in below forecasts at $3.92 billion. Insiders were mixed, with one executive selling shares and a director buying shares.

Natixis Advisors LLC trimmed its position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 6.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,731 shares of the company's stock after selling 3,271 shares during the quarter. Natixis Advisors LLC owned 0.13% of Casey's General Stores worth $26,381,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Foster Dykema Cabot & Partners LLC bought a new position in Casey's General Stores in the third quarter valued at approximately $25,000. Westside Investment Management Inc. increased 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 acquiring an additional 23 shares during the last quarter. True Wealth Design LLC increased its stake 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 valued at $30,000 after acquiring an additional 42 shares during the last quarter. Central Pacific Bank Trust Division increased 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 acquiring an additional 19 shares during the last quarter. Finally, Atlantic Union Bankshares Corp bought a new position in Casey's General Stores in the third quarter valued at approximately $33,000. 85.63% of the stock is owned by institutional investors.

Analyst Ratings Changes

CASY has been the topic of a number of recent analyst reports. Royal Bank Of Canada lifted their price objective on shares of Casey's General Stores from $662.00 to $713.00 and gave the company a "sector perform" rating in a research note on Tuesday, March 10th. BMO Capital Markets reissued 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. William Blair began coverage on shares of Casey's General Stores in a research note on Wednesday, May 20th. They set an "outperform" rating on the stock. Jefferies Financial Group boosted their target price on shares of 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. Finally, JPMorgan Chase & Co. began coverage on shares of Casey's General Stores in a research note on Thursday, March 26th. They set a "neutral" rating and a $719.00 target price on the stock. One 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's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $761.36.

Casey's General Stores Stock Performance

NASDAQ CASY opened at $761.57 on Friday. The firm's fifty day moving average price is $787.40 and its two-hundred day moving average price is $674.78. The stock has a market cap of $28.15 billion, a PE ratio of 43.72, a PEG ratio of 2.14 and a beta of 0.61. Casey's General Stores, Inc. has a fifty-two week low of $433.63 and a fifty-two week high of $901.00. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.64 and a current ratio of 1.04.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its earnings results 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. The firm 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%. The company's revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.33 earnings per share. On average, equities analysts expect that Casey's General Stores, Inc. will post 18.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Katrina S. Lindsey sold 200 shares of Casey's General Stores stock in a transaction on Wednesday, March 11th. The shares were 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 in the company, valued at approximately $2,758,798.56. The trade was a 4.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mike Spanos purchased 300 shares of the business's stock in a transaction dated Friday, March 13th. The shares were acquired at an average price of $665.43 per share, for a total transaction of $199,629.00. Following the acquisition, the director owned 4,499 shares of the company's stock, valued at $2,993,769.57. This trade represents a 7.14% increase in their position. The SEC filing for this purchase provides additional information. 0.54% of the stock is currently owned by 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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