Denali Advisors LLC Has $3.87 Million Stock Position in Casey’s General Stores, Inc. $CASY

Denali Advisors LLC raised its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 262.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,008 shares of the company’s stock after acquiring an additional 5,077 shares during the quarter. Denali Advisors LLC’s holdings in Casey’s General Stores were worth $3,873,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. increased its position in 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 period. Franklin Resources Inc. increased its position in 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 period. Invesco Ltd. grew its position in shares of Casey’s General Stores by 5.0% during the 3rd quarter. Invesco Ltd. now owns 507,998 shares of the company’s stock worth $287,182,000 after buying an additional 24,091 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Casey’s General Stores by 2.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 447,265 shares of the company’s stock worth $252,832,000 after buying an additional 8,781 shares during the period. Finally, Capital World Investors grew its position in shares of Casey’s General Stores by 1.8% during the 3rd quarter. Capital World Investors now owns 418,870 shares of the company’s stock worth $236,796,000 after buying an additional 7,428 shares during the period. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Casey’s General Stores

In related news, insider Katrina S. Lindsey sold 200 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The stock was 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mike Spanos bought 300 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average cost of $665.43 per share, with a total value of $199,629.00. Following the purchase, the director directly owned 4,499 shares of the company’s stock, valued at $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. 0.54% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on CASY. Bank of America initiated coverage on Casey’s General Stores in a research note on Friday, January 9th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. started coverage on Casey’s General Stores in a research note on Thursday, March 26th. They issued a “neutral” rating and a $719.00 price target on the stock. Zacks Research raised Casey’s General Stores from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 23rd. UBS Group upped their price objective on Casey’s General Stores from $600.00 to $706.00 and gave the company a “neutral” rating in a report on Wednesday, March 11th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Casey’s General Stores in a report on Friday, March 27th. One 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $725.09.

Casey’s General Stores Price Performance

Shares of CASY opened at $859.49 on Friday. Casey’s General Stores, Inc. has a 1 year low of $430.00 and a 1 year high of $868.08. 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 company has a market capitalization of $31.77 billion, a price-to-earnings ratio of 49.34, a price-to-earnings-growth ratio of 2.35 and a beta of 0.65. The business has a 50-day moving average of $729.25 and a 200-day moving average of $634.05.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data 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. 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 the consensus estimate of $4.08 billion. During the same period last year, the company earned $2.33 earnings per share. The firm’s revenue was up .3% compared to the same quarter last year. As a group, equities research analysts anticipate that Casey’s General Stores, Inc. will post 18.24 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 1st will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, May 1st. 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.