AdvisorShares Investments LLC Raises Stake in Casey’s General Stores, Inc. $CASY

AdvisorShares Investments LLC raised its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 4,290.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 13,170 shares of the company’s stock after buying an additional 12,870 shares during the period. Casey’s General Stores accounts for approximately 1.2% of AdvisorShares Investments LLC’s investment portfolio, making the stock its 16th largest position. AdvisorShares Investments LLC’s holdings in Casey’s General Stores were worth $7,279,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. 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. grew its holdings 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 worth $26,000 after purchasing an additional 23 shares during the period. Central Pacific Bank Trust Division grew its holdings 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 grew its holdings 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 purchased a new position in shares of Casey’s General Stores during the 3rd quarter worth $33,000. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Casey’s General Stores Trading Down 1.8%

Shares of CASY stock opened at $767.14 on Friday. The business’s 50 day moving average is $780.50 and its two-hundred day moving average is $667.59. Casey’s General Stores, Inc. has a twelve month low of $433.16 and a twelve month high of $901.00. The company has a market capitalization of $28.35 billion, a P/E ratio of 44.04, a price-to-earnings-growth ratio of 2.16 and a beta of 0.65. The company has a current ratio of 1.04, a quick ratio of 0.64 and a debt-to-equity ratio of 0.61.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Monday, March 9th. The company reported $3.49 earnings per share for the quarter, beating 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 the consensus estimate of $4.08 billion. During the same period last year, the business posted $2.33 EPS. The company’s revenue was up .3% on a year-over-year basis. Equities analysts forecast that Casey’s General Stores, Inc. will post 18.19 EPS for the current year.

Casey’s General Stores Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were paid a $0.57 dividend. The ex-dividend date was Friday, May 1st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.3%. Casey’s General Stores’s payout ratio is 13.09%.

Insider Buying and Selling

In other Casey’s General Stores news, Director Mike Spanos purchased 300 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were purchased at an average cost of $665.43 per share, for a total transaction of $199,629.00. Following the completion of the purchase, the director directly owned 4,499 shares in the company, valued at $2,993,769.57. This represents a 7.14% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 value of $136,608.00. Following the completion of the sale, the insider owned 4,039 shares in the company, valued at approximately $2,758,798.56. This trade represents a 4.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.54% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Stephens reiterated an “overweight” rating and set a $680.00 price target on shares of Casey’s General Stores in a report on Tuesday, March 10th. The Goldman Sachs Group raised their target price on Casey’s General Stores from $530.00 to $605.00 and gave the company a “neutral” rating in a report on Wednesday, March 11th. Evercore reaffirmed an “outperform” rating and issued a $915.00 price target on shares of Casey’s General Stores in a research report on Monday, May 18th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Casey’s General Stores in a research report on Friday, March 27th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $700.00 target price on shares of Casey’s General Stores in a research report on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $752.36.

Casey’s General Stores Company 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.