Stone Ridge Asset Management LLC Takes Position in Casey’s General Stores (CASY)

Stone Ridge Asset Management LLC acquired a new position in Casey’s General Stores (NASDAQ:CASY) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 12,126 shares of the company’s stock, valued at approximately $1,357,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CASY. Advisor Group Inc. increased its stake in shares of Casey’s General Stores by 8.2% during the third quarter. Advisor Group Inc. now owns 6,024 shares of the company’s stock valued at $659,000 after purchasing an additional 455 shares in the last quarter. Vident Investment Advisory LLC increased its position in shares of Casey’s General Stores by 2.7% during the third quarter. Vident Investment Advisory LLC now owns 17,872 shares of the company’s stock valued at $1,956,000 after acquiring an additional 463 shares in the last quarter. Financial Counselors Inc. increased its position in shares of Casey’s General Stores by 25.6% during the third quarter. Financial Counselors Inc. now owns 3,141 shares of the company’s stock valued at $344,000 after acquiring an additional 640 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Casey’s General Stores by 37.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,450 shares of the company’s stock worth $274,000 after purchasing an additional 671 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. boosted its holdings in Casey’s General Stores by 2.1% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 41,086 shares of the company’s stock worth $4,497,000 after purchasing an additional 864 shares during the last quarter. Institutional investors and hedge funds own 98.03% of the company’s stock.

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In other Casey’s General Stores news, VP William J. Walljasper sold 1,000 shares of the business’s stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $108.85, for a total value of $108,850.00. Following the completion of the sale, the vice president now directly owns 21,452 shares of the company’s stock, valued at approximately $2,335,050.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Cara Kay Heiden acquired 4,000 shares of the stock in a transaction on Thursday, March 8th. The stock was bought at an average cost of $109.77 per share, with a total value of $439,080.00. Following the completion of the transaction, the director now owns 5,043 shares in the company, valued at $553,570.11. The disclosure for this purchase can be found here. Corporate insiders own 1.30% of the company’s stock.

Several brokerages recently issued reports on CASY. BidaskClub upgraded shares of Casey’s General Stores from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 6th. Goldman Sachs initiated coverage on shares of Casey’s General Stores in a research note on Thursday. They set a “neutral” rating and a $106.00 price target on the stock. BMO Capital Markets set a $122.00 price target on shares of Casey’s General Stores and gave the stock a “hold” rating in a research note on Wednesday, March 7th. Royal Bank of Canada reiterated a “hold” rating on shares of Casey’s General Stores in a research note on Friday, December 8th. Finally, Stephens set a $140.00 target price on shares of Casey’s General Stores and gave the company a “buy” rating in a research note on Wednesday, March 21st. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $122.91.

NASDAQ CASY traded down $0.46 on Friday, reaching $107.18. The company had a trading volume of 333,248 shares, compared to its average volume of 410,647. Casey’s General Stores has a 12 month low of $99.76 and a 12 month high of $128.51. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.48 and a current ratio of 1.03. The company has a market cap of $4,040.39, a P/E ratio of 23.92, a P/E/G ratio of 2.11 and a beta of 0.59.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Wednesday, March 7th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.14). Casey’s General Stores had a return on equity of 12.70% and a net margin of 4.03%. The business had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter last year, the firm earned $0.58 earnings per share. The business’s quarterly revenue was up 16.1% on a year-over-year basis. analysts forecast that Casey’s General Stores will post 4.07 EPS for the current fiscal year.

Casey’s General Stores announced that its Board of Directors has authorized a stock repurchase program on Wednesday, March 7th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Tuesday, May 1st will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, April 30th. This represents a $1.04 annualized dividend and a yield of 0.97%. Casey’s General Stores’s payout ratio is 23.21%.

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Casey’s General Stores Company Profile

Casey’s General Stores, Inc and its subsidiaries, operate convenience stores under the name Casey’s General Store in approximately 10 Midwestern states, in Iowa, Missouri, and Illinois. The Company also operates approximately two stores selling primarily tobacco products. The stores carry a range of food, including freshly prepared foods such as pizza, donuts, and sandwiches, beverages, tobacco products, health and beauty aids, automotive products and other nonfood items.

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

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