3 Stocks to Buy That Are NOT in the S&P 500 (but Should Be)

InvestorPlace06-21

Here are three stocks to buy that could get added to the index before too long. Casey’s General Stores (CASY): Its growth and profits are worthy of inclusion. Apollo Global Management (APO): It ...

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These instantly became stocks to buy for institutional managers who must reconfigure their holdings to track the index’s newest constituents.Here are three stocks to buy that ought to be in the index — but aren’t.Casey’s reported Q4 2024 results on June 11th that were significantly better than analyst expectations on strong food and beverage sales. On the bottom line, it earned $2.34 a share, 57% higher than Q4 2023, and 38% higher than the $1.70 consensus estimate. On the top line, its revenue was $3.60 billion, $130 million higher than Wall Street’s estimate and 8.1% higher than","collect":0,"end_time":0,"defaultTopTitle":"investorplace.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"PSQ":"纳指反向ETF","BK4533":"AQR资本管理(全球第二大对冲基金)","TQQQ":"纳指三倍做多ETF","BX":"黑石","BK4575":"芯片概念","SPY":"标普500ETF","BK4130":"人力资源与就业服务","LU1935043023.USD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (USD) INC A","CRWD":"CrowdStrike Holdings, Inc.","CASY":"Caseys General Stores","BK4543":"AI","LU0444971666.USD":"天利全球科技基金","INTC":"英特尔","LU0006061336.USD":"Blackrock US Small and MidCap Opportunities A2 USD","ILMN":"Illumina","LU2125909593.SGD":"Natixis Thematics Meta R/A SGD","CMA":"联信银行",".SPX":"S&P 500 Index","QID":"纳指两倍做空ETF","RHI":"罗致恒富","GDDY":"Godaddy Inc.","APO":"阿波罗全球管理","BK4097":"系统软件","IE00BLSP4239.USD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis USD Plus","LU2491049909.HKD":"WELLINGTON SUSTAINABLE OUTCOMES \"A\" (HKD) ACC","LU1917777945.USD":"安联专题基金Cl AT Acc",".IXIC":"NASDAQ Composite","IE00B894F039.SGD":"Legg Mason ClearBridge - US Aggressive Growth A Acc SGD-H","BK4135":"资产管理与托管银行","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","KKR":"KKR & Co L.P.","PLTR":"Palantir Technologies Inc.","LU1935043536.SGD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (SGDHDG) INC A","BK4529":"IDC概念","VOO":"Vanguard标普500ETF","LU2125909759.SGD":"Natixis Thematics Safety H-R/A SGD","LU2095319765.USD":"Natixis Thematics Subscription Economy R/A USD","QLD":"纳指两倍做多ETF","LU1992135399.USD":"Allianz Global Intelligent Cities AT Acc USD","LU2210150020.SGD":"Natixis Thematics Subscription Economy R/A SGD","LU2272731782.SGD":"Allianz Global Intelligent Cities AM Dis H2-SGD","LU0321505868.SGD":"Schroder ISF Global Dividend Maximiser A Dis SGD","BK4532":"文艺复兴科技持仓","AIP":"Arteris, Inc.","LU0321505439.SGD":"Schroder ISF Global Dividend Maximiser A Acc SGD","SQQQ":"纳指三倍做空ETF","QQQ":"纳指100ETF","BK4534":"瑞士信贷持仓"},"translate_title":"3只不在标普500（但应该在）的股票值得买入","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"KKR":1,"VOO":1,"SPY":1,"RHI":1,"PLTR":1,"INTC":1,"ILMN":1,"GDDY":1,"CRWD":1,"CMA":1,"CASY":1,"BX":1,".SPX":1,"AIP":1,"APO":1,".IXIC":0.77,"PSQ":0.6,"QID":0.6,"QLD":0.6,"QQQ":0.6,"SQQQ":0.6,"TQQQ":0.6,"MNQmain":0.6,"NQmain":0.6},"content_text":"Here are three stocks to buy that could get added to the index before too long.\nCasey’s General Stores (CASY): Its growth and profits are worthy of inclusion.   \nApollo Global Management (APO): It would be the third alternative asset manager in the index. \nPalantir Technologies (PLTR): Profits are coming online making it an excellent choice. \n\n\n\n\n\n \n\nSource: Shutterstock\n\n\n\nS&P Dow Jones Indices announced on June 7 that three companies would be added to the S&P 500. These instantly became stocks to buy for institutional managers who must reconfigure their holdings to track the index’s newest constituents. \nEntering the index on June 24 are KKR (NYSE:KKR), Crowdstrike (NASDAQ:CRWD) and GoDaddy (NYSE:GDDY). Leaving are Robert Half (NYSE:RHI), Comerica (NYSE:CMA) and Illumina (NASDAQ:ILMN). \nThe three going into the index are more representative of large-cap stocks. There are a number of qualifications: Market capitalization, profitability, liquidity, American by definition. Stocks already in the S&P MidCap 400 have a good chance if they’ve grown into a large cap. \nRight now, the median market cap of the S&P 500 is $33.43 billion. Market caps range from a low of $4.69 billion to a high of $2.89 trillion. \nHere are three stocks to buy that ought to be in the index — but aren’t.  \nCasey’s General Stores (CASY)\nSource: Ken Wolter / Shutterstock.comCasey’s General Stores (NASDAQ:CASY) went public in October 1983. Its shares have appreciated 38,650% in 41 years. Its market cap is just shy of $14 billion. There are 48 companies in the index with a lower market cap. \nThe Iowa-based company operates over 2,600 convenience stores in 17 Midwestern states. Founded in 1968, its business is really humming early in 2024.\nCasey’s reported Q4 2024 results on June 11th that were significantly better than analyst expectations on strong food and beverage sales. On the bottom line, it earned $2.34 a share, 57% higher than Q4 2023, and 38% higher than the $1.70 consensus estimate. On the top line, its revenue was $3.60 billion, $130 million higher than Wall Street’s estimate and 8.1% higher than a year earlier. \nFollowing earnings, its shares hit an all-time high of $389.44. They’ve since fallen off a little. \nIf you’re a dividend investor, it increased the quarterly payout by 16% to 50 cents. The annual rate of $2.00 yields 0.53%. It’s the 25th annual increase, which should make it a Dividend Aristocrat. It’s important to remember that, among stocks to buy, it’s the growth that counts, not the yield. \nAs far as I know, there isn’t a convenience store operator in the index.         \nApollo Global Management (APO)\nSource: Casimiro PT / ShutterstockApollo Global Management (NYSE:APO) was founded in 1990 and went public in 2011. Its shares appreciated by 552% in the 13 years since. Its market cap is over $70 billion. There are 129 companies in the index with a higher market cap. \nCurrently, only one alternative asset manager is in the index. That would be Blackstone (NYSE:BX) with a $149 billion market cap. KKR’s got a $98 billion market cap and a more storied history than Apollo. As a result, it may be a while before APO is included in the index. \nHowever, analysts generally like it. Of the 17 that cover it, 11 rate it a “buy,” with a $126 target price, 7% higher than where it’s currently trading.    \nEarlier in June, Apollo struck a deal to buy into Intel’s (NASDAQ:INTC) Fab 34 facility in Ireland. It will pay $11 billion for 49% of the joint venture. Intel will retain 51% control. Intel’s already spent $18.4 billion on the facility. \nApollo finished its latest quarter with $65 billion in dry powder, the industry term for funds left to be invested.  \nPalantir Technologies (PLTR)\nSource: Sundry Photography / Shutterstock.comPalantir Technologies (NYSE:PLTR) was founded in 2003 by CEO Alex Karp and venture capitalist Peter Thiel. It went public in September 2020 using a direct listing. Its shares have appreciated 158% in the four years since. Its market cap is over $57 billion. There are 157 companies in the index with a higher market cap. \nMost of Palantir’s gains have come since the beginning of 2023 when its share price bottomed around $6.25. The gains are primarily because of its Artificial Intelligence Platform (AIP), which it launched in April 2023. In its press release from April 7th, 2023, CEO Alex Karp stated:\n\n“AIP will allow customers to leverage the power of our existing machine learning technologies alongside the increasingly sophisticated natural language processing capabilities of the newest large language models, directly in our existing platforms, including Foundry and Gotham, which are now home to some of the most valuable privately held and industry specific data repositories in the world.” \n\nFast forward to June 2024 — its AI business is on fire.\nOn June 17, Argus Research analyst Joseph Bonner initiated coverage of PLTR stock, giving it a “buy” rating with a $29 target price, well above where it’s currently trading. Bonner expects Palantir’s earnings to grow 19% annually over the next five years.\nThat makes it more than eligible for the index.\nOn the date of publication, Will Ashworth did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.\nWill Ashworth has written about investments full-time since 2008. Publications where he’s appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia.Consumer Discretionary, Financial, Retail, Software, Technology\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSubmit\n\n\n\n\n\n\n\nArticle printed from InvestorPlace Media, https://investorplace.com/2024/06/3-stocks-to-buy-that-are-not-in-the-sp-500-but-should-be/.\n©2024 InvestorPlace Media, LLC","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.28.1","shortVersion":"4.28.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2445024170"}