Donoghue Forlines LLC Takes $2.37 Million Position in Casey’s General Stores, Inc. $CASY

Donoghue Forlines LLC bought a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,294 shares of the company’s stock, valued at approximately $2,373,000.

A number of other hedge funds have also recently modified their holdings of the business. FSB Premier Wealth Management Inc. grew its stake in shares of Casey’s General Stores by 0.8% during the fourth quarter. FSB Premier Wealth Management Inc. now owns 2,338 shares of the company’s stock valued at $1,292,000 after buying an additional 18 shares during the last quarter. Central Pacific Bank Trust Division grew its stake in shares of Casey’s General Stores by 52.8% during the fourth quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock valued at $30,000 after buying an additional 19 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Casey’s General Stores by 9.1% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 227 shares of the company’s stock valued at $128,000 after buying an additional 19 shares during the last quarter. ORG Partners LLC grew its stake in shares of Casey’s General Stores by 47.6% during the fourth quarter. ORG Partners LLC now owns 62 shares of the company’s stock valued at $34,000 after buying an additional 20 shares during the last quarter. Finally, Scotia Capital Inc. grew its stake in shares of Casey’s General Stores by 2.9% during the third quarter. Scotia Capital Inc. now owns 720 shares of the company’s stock valued at $407,000 after buying an additional 20 shares during the last quarter. Institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Stock Down 1.2%

Shares of NASDAQ:CASY opened at $877.48 on Friday. Casey’s General Stores, Inc. has a 52-week low of $430.00 and a 52-week high of $901.00. The stock has a market cap of $32.43 billion, a P/E ratio of 50.37, a price-to-earnings-growth ratio of 2.46 and a beta of 0.65. The business’s 50 day moving average is $748.46 and its 200 day moving average is $645.66. The company has a quick ratio of 0.64, a current ratio of 1.04 and a debt-to-equity ratio of 0.61.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Monday, March 9th. The company reported $3.49 earnings per share (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 for the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the prior year, the firm earned $2.33 earnings per share. Casey’s General Stores’s revenue was up .3% compared to the same quarter last year. Sell-side analysts predict that Casey’s General Stores, Inc. will post 18.24 EPS for the current year.

Casey’s General Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors 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 annualized dividend and a yield of 0.3%. Casey’s General Stores’s dividend payout ratio is 13.09%.

Analysts Set New Price Targets

CASY has been the topic of a number of analyst reports. The Goldman Sachs Group upped their target price on Casey’s General Stores from $530.00 to $605.00 and gave the company a “neutral” rating in a research note on Wednesday, March 11th. Jefferies Financial Group upped their target price on Casey’s General Stores from $700.00 to $780.00 and gave the company a “buy” rating in a research note on Tuesday, March 10th. JPMorgan Chase & Co. initiated 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. Zacks Research raised Casey’s General Stores from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 23rd. Finally, UBS Group upped their target price on Casey’s General Stores from $600.00 to $706.00 and gave the company a “neutral” rating in a research note on Wednesday, March 11th. One research 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $725.09.

Insider Activity at Casey’s General Stores

In related news, insider Katrina S. Lindsey sold 200 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $683.04, for a total value of $136,608.00. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mike Spanos acquired 300 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average cost of $665.43 per share, for a total transaction of $199,629.00. Following the purchase, the director owned 4,499 shares of the company’s stock, valued at $2,993,769.57. This represents a 7.14% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.54% of the stock is owned by corporate 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.