WealthPlan Investment Management LLC Lowers Position in Casey's General Stores, Inc. $CASY

Key Points

• WealthPlan Investment Management LLC cut its Casey’s General Stores stake by 27.8% in the fourth quarter, selling 10,319 shares and leaving it with 26,751 shares valued at about $14.8 million.
• Insider trading was mixed: insider Katrina S. Lindsey sold 200 shares, while director Mike Spanos bought 300 shares, signaling both selling and buying activity inside the company.
• Casey’s reported strong earnings but traded lower, posting $3.49 EPS versus $2.94 expected, even as the stock fell 2.8% on the day and analysts maintained a Moderate Buy consensus with a $725.09 target price.

WealthPlan Investment Management LLC reduced its stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 27.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,751 shares of the company's stock after selling 10,319 shares during the quarter. Casey's General Stores makes up 0.9% of WealthPlan Investment Management LLC's investment portfolio, making the stock its 26th largest holding. WealthPlan Investment Management LLC owned 0.07% of Casey's General Stores worth $14,786,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of CASY. Foster Dykema Cabot & Partners LLC purchased a new stake in Casey's General Stores in the 3rd quarter valued at $25,000. Westside Investment Management Inc. increased its position in shares of Casey's General Stores by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 46 shares of the company's stock valued at $26,000 after purchasing an additional 23 shares during the last quarter. Central Pacific Bank Trust Division raised its stake 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 worth $30,000 after purchasing an additional 19 shares during the period. True Wealth Design LLC raised its stake in shares of Casey's General Stores by 350.0% during 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 during the period. Finally, Atlantic Union Bankshares Corp bought a new stake in shares of Casey's General Stores during the 3rd quarter worth $33,000. 85.63% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Katrina S. Lindsey sold 200 shares of Casey's General Stores 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 sale, the insider owned 4,039 shares of the company's stock, valued at approximately $2,758,798.56. This trade represents a 4.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mike Spanos acquired 300 shares of the firm's stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average cost of $665.43 per share, with a total value of $199,629.00. Following the acquisition, the director owned 4,499 shares in the company, valued at $2,993,769.57. The trade was a 7.14% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CASY shares. Wall Street Zen cut Casey's General Stores from a "buy" rating to a "hold" rating in a research note on Saturday, March 21st. Zacks Research upgraded Casey's General Stores from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 23rd. JPMorgan Chase & Co. started coverage on 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. KeyCorp lifted their target price on Casey's General Stores from $830.00 to $860.00 and gave the stock an "overweight" rating in a research note on Friday, April 24th. Finally, Northcoast Research cut Casey's General Stores from a "buy" rating to a "neutral" rating in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $725.09.

Casey's General Stores Trading Down 2.8%

NASDAQ CASY opened at $852.75 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.04 and a quick ratio of 0.64. The stock has a market capitalization of $31.52 billion, a price-to-earnings ratio of 48.95, a PEG ratio of 2.36 and a beta of 0.65. Casey's General Stores, Inc. has a one year low of $433.16 and a one year high of $901.00. The business's fifty day moving average is $751.84 and its 200-day moving average is $647.10.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings data on Monday, March 9th. The company reported $3.49 earnings per share 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 firm posted $2.33 EPS. The firm's revenue for the quarter was up .3% on a year-over-year basis. Equities research analysts predict that Casey's General Stores, Inc. will post 18.24 EPS for the current year.

Casey's General Stores Announces Dividend

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

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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