Vanguard Group Inc. Lowers Stake in Casey's General Stores, Inc. $CASY

Key Points

• Vanguard trimmed its stake in Casey's by 0.8% in Q4, selling 29,489 shares and now holds 3,728,414 shares (10.06%) valued at $2.06 billion, while institutional ownership stands at about 85.63%.
• Analyst sentiment is broadly positive with a consensus rating of Moderate Buy and an average price target of $725.09, with recent targets ranging roughly $680–$780.
• Casey's posted an earnings beat (EPS $3.49 vs. $2.94 expected), announced a $0.57 quarterly dividend (0.3% yield, ex-dividend May 1), and trades at a market cap of ~$28.9B with a P/E around 44.9.

Vanguard Group Inc. reduced its position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,728,414 shares of the company's stock after selling 29,489 shares during the quarter. Vanguard Group Inc. owned 10.06% of Casey's General Stores worth $2,060,732,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cannon Global Investment Management LLC purchased a new position in Casey's General Stores in the 3rd quarter valued at about $1,018,000. Advisors Capital Management LLC lifted its stake in Casey's General Stores by 4.4% in the 3rd quarter. Advisors Capital Management LLC now owns 48,355 shares of the company's stock valued at $27,336,000 after buying an additional 2,026 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in Casey's General Stores by 1.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 191,156 shares of the company's stock valued at $108,065,000 after buying an additional 1,950 shares in the last quarter. AE Wealth Management LLC lifted its stake in Casey's General Stores by 82.3% in the 3rd quarter. AE Wealth Management LLC now owns 2,574 shares of the company's stock valued at $1,456,000 after buying an additional 1,162 shares in the last quarter. Finally, Dillon & Associates Inc. lifted its stake in Casey's General Stores by 25.1% in the 3rd quarter. Dillon & Associates Inc. now owns 25,737 shares of the company's stock valued at $14,541,000 after buying an additional 5,161 shares in the last quarter. 85.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Zacks Research raised shares of Casey's General Stores from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 23rd. Stephens reaffirmed an "overweight" rating and issued a $680.00 price target on shares of Casey's General Stores in a research note on Tuesday, March 10th. Evercore reissued an "outperform" rating and issued a $780.00 target price on shares of Casey's General Stores in a research note on Tuesday, April 21st. JPMorgan Chase & Co. assumed coverage on shares of Casey's General Stores in a research note on Thursday, March 26th. They issued a "neutral" rating and a $719.00 target price on the stock. Finally, BMO Capital Markets reissued a "market perform" rating and issued a $700.00 target price on shares of Casey's General Stores in a research note on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Casey's General Stores presently has a consensus rating of "Moderate Buy" and an average price target of $725.09.

Casey's General Stores Stock Down 0.4%

Shares of NASDAQ CASY opened at $781.50 on Thursday. The company has a 50 day simple moving average of $715.05 and a 200-day simple moving average of $625.60. The company has a market capitalization of $28.88 billion, a P/E ratio of 44.86, a P/E/G ratio of 2.62 and a beta of 0.61. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.04 and a quick ratio of 0.64. Casey's General Stores, Inc. has a 1 year low of $430.00 and a 1 year high of $806.49.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings results on Monday, March 9th. The company reported $3.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.94 by $0.55. The business had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $4.08 billion. Casey's General Stores had a net margin of 3.83% and a return on equity of 17.56%. The business's revenue was up .3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.33 EPS. On average, equities research analysts predict that Casey's General Stores, Inc. will post 18.1 earnings per share for the current year.

Casey's General Stores Dividend Announcement

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

Insider Activity at Casey's General Stores

In related news, Director Mike Spanos bought 300 shares of the company's stock in a transaction that occurred on Friday, March 13th. The stock was purchased 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 approximately $2,993,769.57. This trade represents a 7.14% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Katrina S. Lindsey sold 200 shares of Casey's General Stores stock in a transaction that occurred 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 sale, the insider owned 4,039 shares of the company's stock, valued at $2,758,798.56. This trade represents a 4.72% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.54% of the stock is currently owned by company insiders.

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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