Taylor Frigon Capital Management LLC Acquires 3,821 Shares of Casey's General Stores, Inc. $CASY

Key Points

• Taylor Frigon Capital Management initiated a position in Casey’s General Stores by purchasing 3,821 shares valued at approximately $2.325 million. Institutional investors collectively own 85.63% of the company.
• Casey’s reported quarterly earnings of $7.37 per share, exceeding estimates by $0.59, while revenue rose 24.3% year over year to $5.68 billion.
• The company declared a quarterly dividend of $0.65 per share, equivalent to $2.60 annually and a 0.4% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $835.38.

Taylor Frigon Capital Management LLC bought a new position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 3,821 shares of the company's stock, valued at approximately $2,325,000.

Several other hedge funds have also recently bought and sold shares of CASY. Daiichi Life Insurance Co. Ltd. purchased a new position in shares of Casey's General Stores in the second quarter valued at approximately $1,222,000. National Pension Service increased its stake in Casey's General Stores by 3,138.9% during the 2nd quarter. National Pension Service now owns 67,466 shares of the company's stock worth $53,621,000 after buying an additional 65,383 shares during the period. NEOS Investment Management LLC purchased a new stake in Casey's General Stores during the 2nd quarter worth approximately $4,602,000. Teachers Retirement System of The State of Kentucky increased its stake in Casey's General Stores by 52.0% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 17,079 shares of the company's stock worth $12,431,000 after buying an additional 5,846 shares during the period. Finally, Jefferies Financial Group Inc. acquired a new stake in Casey's General Stores during the 2nd quarter worth approximately $15,114,000. Institutional investors and hedge funds own 85.63% of the company's stock.

Casey's General Stores Stock Performance

Shares of Casey's General Stores stock opened at $699.26 on Friday. The firm has a market capitalization of $25.84 billion, a P/E ratio of 33.68, a P/E/G ratio of 2.26 and a beta of 0.59. Casey's General Stores, Inc. has a 52 week low of $497.38 and a 52 week high of $927.85. The company has a quick ratio of 0.61, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. The firm's 50 day moving average is $686.97 and its two-hundred day moving average is $773.16.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its quarterly earnings data on Tuesday, September 8th. The company reported $7.37 earnings per share for the quarter, topping analysts' consensus estimates of $6.78 by $0.59. The company had revenue of $5.68 billion for the quarter, compared to analysts' expectations of $5.56 billion. Casey's General Stores had a net margin of 4.14% and a return on equity of 19.68%. The firm's revenue for the quarter was up 24.3% on a year-over-year basis. During the same quarter last year, the company earned $5.77 earnings per share. Research analysts forecast that Casey's General Stores, Inc. will post 21.61 EPS for the current fiscal year.

Casey's General Stores Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Sunday, November 1st will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, October 30th. Casey's General Stores's dividend payout ratio (DPR) is currently 12.52%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CASY. Wall Street Zen cut shares of Casey's General Stores from a "buy" rating to a "hold" rating in a research report on Saturday, September 12th. Northcoast Research raised Casey's General Stores from a "neutral" rating to a "buy" rating and set a $950.00 price objective on the stock in a research report on Monday, July 13th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $933.00 price objective on shares of Casey's General Stores in a research report on Thursday, September 10th. Wells Fargo & Company reduced their price objective on Casey's General Stores from $960.00 to $750.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 9th. Finally, Stephens set a $750.00 target price on Casey's General Stores in a report on Thursday, September 10th. Sixteen research analysts have rated the stock with a Buy rating and five have issued 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 $835.38.

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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