Flagship Harbor Advisors LLC Acquires New Holdings in Casey’s General Stores, Inc. (NASDAQ:CASY)

Flagship Harbor Advisors LLC bought a new position in Casey’s General Stores, Inc. (NASDAQ:CASYFree Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 567 shares of the company’s stock, valued at approximately $225,000.

Several other hedge funds have also modified their holdings of the company. FMR LLC raised its stake in shares of Casey’s General Stores by 3.8% during the 3rd quarter. FMR LLC now owns 1,046,830 shares of the company’s stock worth $393,305,000 after acquiring an additional 38,226 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Casey’s General Stores by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company’s stock worth $285,090,000 after purchasing an additional 119,350 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Casey’s General Stores by 1.3% during the third quarter. Geode Capital Management LLC now owns 655,488 shares of the company’s stock worth $246,335,000 after purchasing an additional 8,428 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Casey’s General Stores by 49.9% during the 3rd quarter. Franklin Resources Inc. now owns 524,237 shares of the company’s stock valued at $204,861,000 after purchasing an additional 174,586 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Casey’s General Stores by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 273,332 shares of the company’s stock worth $102,694,000 after purchasing an additional 702 shares in the last quarter. 85.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CASY shares. StockNews.com lowered Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 13th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $450.00 price objective (up from $400.00) on shares of Casey’s General Stores in a research report on Wednesday, December 18th. Gordon Haskett initiated coverage on shares of Casey’s General Stores in a research note on Monday, November 4th. They issued a “hold” rating and a $400.00 target price for the company. Evercore ISI upped their price target on shares of Casey’s General Stores from $460.00 to $470.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Royal Bank of Canada lifted their price objective on shares of Casey’s General Stores from $403.00 to $428.00 and gave the stock a “sector perform” rating in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $424.00.

View Our Latest Research Report on Casey’s General Stores

Casey’s General Stores Price Performance

Shares of CASY opened at $419.59 on Thursday. The business’s 50-day moving average is $408.39 and its two-hundred day moving average is $391.22. The company has a market capitalization of $15.58 billion, a P/E ratio of 29.24, a P/E/G ratio of 2.29 and a beta of 0.82. Casey’s General Stores, Inc. has a fifty-two week low of $268.96 and a fifty-two week high of $439.68. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.49 and a current ratio of 0.88.

Casey’s General Stores (NASDAQ:CASYGet Free Report) last announced its quarterly earnings results on Monday, December 9th. The company reported $4.85 earnings per share for the quarter, beating the consensus estimate of $4.29 by $0.56. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same period last year, the business earned $4.24 earnings per share. Casey’s General Stores’s quarterly revenue was down 2.9% on a year-over-year basis. Research analysts predict that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 17th. Investors of record on Monday, February 3rd will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, February 3rd. Casey’s General Stores’s dividend payout ratio is currently 13.94%.

Insider Buying and Selling

In other news, insider Katrina S. Lindsey sold 450 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $427.13, for a total transaction of $192,208.50. Following the sale, the insider now directly owns 2,247 shares of the company’s stock, valued at $959,761.11. This represents a 16.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mike Spanos purchased 500 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average price of $396.76 per share, with a total value of $198,380.00. Following the purchase, the director now owns 3,097 shares in the company, valued at $1,228,765.72. This represents a 19.25 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.56% of the stock is currently owned by insiders.

About Casey’s General Stores

(Free Report)

Casey’s General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.

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Institutional Ownership by Quarter for Casey's General Stores (NASDAQ:CASY)

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