Twinbeech Capital LP Buys New Stake in Casey’s General Stores, Inc. (NASDAQ:CASY)

Twinbeech Capital LP bought a new stake in Casey’s General Stores, Inc. (NASDAQ:CASY) during the fourth quarter, HoldingsChannel.com reports. The fund bought 9,372 shares of the company’s stock, valued at approximately $3,713,000.

Several other large investors have also recently added to or reduced their stakes in the company. HighPoint Advisor Group LLC grew its stake in Casey’s General Stores by 1.7% during the fourth quarter. HighPoint Advisor Group LLC now owns 1,468 shares of the company’s stock worth $628,000 after buying an additional 25 shares during the last quarter. Dark Forest Capital Management LP grew its stake in Casey’s General Stores by 3.2% during the fourth quarter. Dark Forest Capital Management LP now owns 902 shares of the company’s stock worth $357,000 after buying an additional 28 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Casey’s General Stores by 24.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 149 shares of the company’s stock worth $59,000 after buying an additional 29 shares during the last quarter. Harbour Investments Inc. grew its stake in Casey’s General Stores by 3.1% during the fourth quarter. Harbour Investments Inc. now owns 1,002 shares of the company’s stock worth $397,000 after buying an additional 30 shares during the last quarter. Finally, Laidlaw Wealth Management LLC grew its stake in Casey’s General Stores by 3.1% during the fourth quarter. Laidlaw Wealth Management LLC now owns 1,063 shares of the company’s stock worth $421,000 after buying an additional 32 shares during the last quarter. 85.63% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Katrina S. Lindsey sold 250 shares of the firm’s stock in a transaction on Friday, April 4th. The shares were sold at an average price of $437.01, for a total transaction of $109,252.50. Following the sale, the insider now directly owns 2,443 shares in the company, valued at $1,067,615.43. This trade represents a 9.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Mike Spanos acquired 256 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average price of $390.54 per share, for a total transaction of $99,978.24. Following the completion of the acquisition, the director now owns 3,356 shares of the company’s stock, valued at $1,310,652.24. This trade represents a 8.26% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.56% of the company’s stock.

Casey’s General Stores Trading Up 0.6%

CASY opened at $458.64 on Wednesday. The firm’s fifty day moving average is $439.64 and its two-hundred day moving average is $420.73. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.49 and a current ratio of 0.88. The firm has a market cap of $17.02 billion, a PE ratio of 31.96, a price-to-earnings-growth ratio of 2.40 and a beta of 0.70. Casey’s General Stores, Inc. has a twelve month low of $313.89 and a twelve month high of $474.97.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Tuesday, March 11th. The company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.57. The company had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.74 billion. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The business’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period last year, the business posted $2.33 earnings per share. Equities research analysts anticipate that Casey’s General Stores, Inc. will post 13.94 EPS for the current year.

Casey’s General Stores Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, May 1st. This represents a $2.00 annualized dividend and a yield of 0.44%. Casey’s General Stores’s dividend payout ratio (DPR) is presently 13.94%.

Wall Street Analyst Weigh In

Several analysts have weighed in on CASY shares. KeyCorp started coverage on shares of Casey’s General Stores in a research note on Friday, April 11th. They set an “overweight” rating and a $500.00 price objective on the stock. Gordon Haskett raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Royal Bank of Canada set a $438.00 price objective on shares of Casey’s General Stores and gave the stock a “sector perform” rating in a research note on Wednesday, March 12th. Stephens raised shares of Casey’s General Stores to a “strong-buy” rating in a research note on Monday, April 7th. Finally, Evercore ISI increased their price target on shares of Casey’s General Stores from $450.00 to $460.00 and gave the company an “outperform” rating in a research note on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $430.33.

Casey’s General Stores Company Profile

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.