Tyche Wealth Partners LLC Acquires Shares of 1,381 Casey's General Stores, Inc. $CASY

Key Points

• Tyche Wealth Partners LLC acquired a new stake of 1,381 shares in Casey's General Stores (NASDAQ:CASY) in Q4, valued at roughly $763,000.
• Several large institutions materially increased positions—Vontobel (+502,104 shares to 890,884), Victory Capital (+206,777), Franklin, Invesco and Dimensional—leaving institutional ownership at 85.63%.
• Analysts show a consensus rating of “Moderate Buy” with a $700.09 average target (some targets up to $780); the company recently beat EPS estimates ($3.49 vs. $2.94), trades at a ~$27.1B market cap, and pays a $0.57 quarterly dividend (≈0.3% yield).

Tyche Wealth Partners LLC acquired a new stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,381 shares of the company's stock, valued at approximately $763,000.

A number of other large investors have also added to or reduced their stakes in the stock. Vontobel Holding Ltd. raised its stake in shares of Casey's General Stores by 129.1% in the third quarter. Vontobel Holding Ltd. now owns 890,884 shares of the company's stock worth $503,635,000 after purchasing an additional 502,104 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Casey's General Stores by 35.4% in the third quarter. Victory Capital Management Inc. now owns 791,415 shares of the company's stock worth $447,403,000 after purchasing an additional 206,777 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Casey's General Stores by 7.0% in the third quarter. Franklin Resources Inc. now owns 758,212 shares of the company's stock worth $428,632,000 after purchasing an additional 49,319 shares during the last quarter. Invesco Ltd. raised its stake in shares of Casey's General Stores by 5.0% in the third quarter. Invesco Ltd. now owns 507,998 shares of the company's stock worth $287,182,000 after purchasing an additional 24,091 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Casey's General Stores by 2.0% in the third quarter. Dimensional Fund Advisors LP now owns 447,265 shares of the company's stock worth $252,832,000 after purchasing an additional 8,781 shares during the last quarter. Hedge funds and other institutional investors own 85.63% of the company's stock.

Analyst Ratings Changes

CASY has been the subject of several recent analyst reports. Evercore set a $665.00 price target on Casey's General Stores and gave the stock an "outperform" rating in a research note on Tuesday, February 24th. Jefferies Financial Group boosted their price target on 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. Zacks Research cut Casey's General Stores from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 23rd. Northcoast Research lowered Casey's General Stores from a "buy" rating to a "neutral" rating in a report on Wednesday, January 21st. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Casey's General Stores in a report on Friday, March 27th. Eight research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $700.09.

Casey's General Stores Stock Performance

NASDAQ:CASY traded down $0.65 during mid-day trading on Tuesday, hitting $734.35. 28,935 shares of the company traded hands, compared to its average volume of 546,631. The stock's fifty day moving average price is $687.35 and its 200-day moving average price is $607.99. Casey's General Stores, Inc. has a one year low of $430.00 and a one year high of $774.23. The company has a quick ratio of 0.64, a current ratio of 1.04 and a debt-to-equity ratio of 0.61. The firm has a market cap of $27.14 billion, a price-to-earnings ratio of 42.35, a price-to-earnings-growth 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 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.92 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the previous year, the company posted $2.33 earnings per share. Casey's General Stores's revenue for the quarter was up .3% on a year-over-year basis. Research analysts anticipate that Casey's General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey's General Stores Announces Dividend

The firm 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. The ex-dividend date of this dividend 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 dividend payout ratio is 13.09%.

Insider Transactions at Casey's General Stores

In other news, insider Katrina S. Lindsey sold 200 shares of the company's stock in a transaction dated 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 owned 4,039 shares of the company's stock, valued at $2,758,798.56. This represents a 4.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Mike Spanos acquired 300 shares of the company's stock in a transaction dated Friday, March 13th. The stock was acquired at an average cost of $665.43 per share, with a total value of $199,629.00. Following the purchase, the director owned 4,499 shares of the company's stock, valued at approximately $2,993,769.57. This trade represents 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 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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