Nisa Investment Advisors LLC Acquires 2,256 Shares of Casey's General Stores, Inc. $CASY

Key Points

• Nisa Investment Advisors increased its stake in Casey's General Stores by 25.5%, buying 2,256 shares to own 11,101 shares worth about $6.14 million; institutional investors now own roughly 85.63% of the stock.
• Casey’s latest quarter beat on EPS—reported $3.49 vs. $2.94 expected—but missed on revenue at $3.92 billion versus $4.08 billion, with ROE of 17.56% and a net margin of 3.83%.
• Analysts are mixed but mildly positive: consensus rating is a “Moderate Buy” with an average target of $700.09, while individual price targets range up to $745 and ratings span Buy/Hold.

Nisa Investment Advisors LLC raised its stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 25.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,101 shares of the company's stock after buying an additional 2,256 shares during the quarter. Nisa Investment Advisors LLC's holdings in Casey's General Stores were worth $6,136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Foster Dykema Cabot & Partners LLC purchased a new position in Casey's General Stores during the third quarter valued at $25,000. Westside Investment Management Inc. lifted its stake in Casey's General Stores by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 46 shares of the company's stock worth $26,000 after purchasing an additional 23 shares in the last quarter. True Wealth Design LLC lifted its stake in Casey's General Stores by 350.0% in the 4th 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. Central Pacific Bank Trust Division boosted its holdings in shares of Casey's General Stores by 52.8% during the 4th 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. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of Casey's General Stores during the third quarter valued at about $33,000. Institutional investors own 85.63% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CASY shares. Zacks Research downgraded Casey's General Stores from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 23rd. Northcoast Research cut Casey's General Stores from a "buy" rating to a "neutral" rating in a report on Wednesday, January 21st. JPMorgan Chase & Co. started coverage on Casey's General Stores in a research note on Thursday, March 26th. They issued a "neutral" rating and a $719.00 price objective on the stock. Stephens reaffirmed an "overweight" rating and set a $680.00 price objective on shares of Casey's General Stores in a report on Tuesday, March 10th. Finally, Wells Fargo & Company increased their target price on Casey's General Stores from $725.00 to $745.00 and gave the company an "overweight" rating in a research report on Tuesday, March 10th. Eight investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, Casey's General Stores currently has an average rating of "Moderate Buy" and a consensus target price of $700.09.

Insider Activity

In other Casey's General Stores 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 completion of the transaction, the insider directly owned 4,039 shares of the company's stock, valued at $2,758,798.56. The trade was a 4.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mike Spanos acquired 300 shares of the business's stock in a transaction on Friday, March 13th. The shares were purchased at an average price of $665.43 per share, for a total transaction of $199,629.00. Following the transaction, the director directly owned 4,499 shares of the company's stock, valued at approximately $2,993,769.57. The trade was a 7.14% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.54% of the company's stock.

Casey's General Stores Stock Up 0.8%

Shares of NASDAQ CASY opened at $743.42 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. Casey's General Stores, Inc. has a 12-month low of $397.80 and a 12-month high of $746.57. The firm's 50-day moving average price is $669.21 and its 200-day moving average price is $597.65. The stock has a market capitalization of $27.48 billion, a price-to-earnings ratio of 42.68, a P/E/G ratio of 2.40 and a beta of 0.61.

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 13.94 EPS for the current fiscal year.

Casey's General Stores Dividend Announcement

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

About Casey's General Stores

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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