ABC Arbitrage SA Invests $475,000 in Casey’s General Stores, Inc. $CASY

ABC Arbitrage SA bought a new position in Casey’s General Stores, Inc. (NASDAQ:CASY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 860 shares of the company’s stock, valued at approximately $475,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its holdings 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 valued at $447,403,000 after acquiring an additional 206,777 shares in the last quarter. M&T Bank Corp boosted its holdings in Casey’s General Stores by 15,024.5% in the fourth quarter. M&T Bank Corp now owns 193,140 shares of the company’s stock valued at $106,750,000 after acquiring an additional 191,863 shares in the last quarter. Barclays PLC boosted its holdings in Casey’s General Stores by 717.6% in the third quarter. Barclays PLC now owns 159,106 shares of the company’s stock valued at $89,946,000 after acquiring an additional 139,647 shares in the last quarter. Squarepoint Ops LLC boosted its holdings in Casey’s General Stores by 146.4% in the third quarter. Squarepoint Ops LLC now owns 157,119 shares of the company’s stock valued at $88,823,000 after acquiring an additional 93,366 shares in the last quarter. Finally, Holocene Advisors LP boosted its holdings in Casey’s General Stores by 98.2% in the second quarter. Holocene Advisors LP now owns 150,075 shares of the company’s stock valued at $76,579,000 after acquiring an additional 74,371 shares in the last quarter. Institutional investors own 85.63% of the company’s stock.

Insider Transactions at Casey’s General Stores

In other Casey’s General Stores news, insider Katrina S. Lindsey sold 200 shares of the business’s stock in a transaction dated 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 directly owned 4,039 shares in the company, valued at $2,758,798.56. The trade was a 4.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mike Spanos purchased 300 shares of the business’s stock in a transaction on Friday, March 13th. The shares were purchased at an average price of $665.43 per share, with a total value of $199,629.00. Following the completion of the purchase, the director owned 4,499 shares in the company, valued at approximately $2,993,769.57. This trade represents a 7.14% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.54% of the stock is currently owned by insiders.

Casey’s General Stores Price Performance

CASY opened at $867.19 on Wednesday. The stock has a 50-day moving average price of $740.45 and a 200-day moving average price of $640.71. 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 firm has a market cap of $32.05 billion, a PE ratio of 49.78, a P/E/G ratio of 2.42 and a beta of 0.65. Casey’s General Stores, Inc. has a 1 year low of $430.00 and a 1 year high of $879.25.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results 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 firm had revenue of $3.92 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the previous year, the firm earned $2.33 EPS. Casey’s General Stores’s quarterly 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 earnings per share for the current fiscal year.

Casey’s General Stores Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CASY. Weiss Ratings restated a “buy (b)” rating on shares of Casey’s General Stores in a report on Friday, March 27th. Wells Fargo & Company boosted their target price on shares of Casey’s General Stores from $725.00 to $745.00 and gave the company an “overweight” rating in a report on Tuesday, March 10th. Jefferies Financial Group boosted their target price on shares of Casey’s General Stores from $700.00 to $780.00 and gave the company a “buy” rating in a report on Tuesday, March 10th. Wall Street Zen cut shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Finally, Evercore reaffirmed an “outperform” rating and issued a $780.00 price target on shares of Casey’s General Stores in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $725.09.

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.