Point72 Asset Management L.P. Reduces Holdings in Casey’s General Stores, Inc. (NASDAQ:CASY)

Point72 Asset Management L.P. trimmed its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 87.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,271 shares of the company’s stock after selling 35,469 shares during the period. Point72 Asset Management L.P.’s holdings in Casey’s General Stores were worth $2,089,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Natixis grew its position in shares of Casey’s General Stores by 21.9% in the 4th quarter. Natixis now owns 8,337 shares of the company’s stock valued at $3,303,000 after buying an additional 1,499 shares during the last quarter. Sanctuary Advisors LLC grew its position in shares of Casey’s General Stores by 55.6% in the 4th quarter. Sanctuary Advisors LLC now owns 8,579 shares of the company’s stock valued at $3,629,000 after buying an additional 3,065 shares during the last quarter. Scholtz & Company LLC purchased a new position in Casey’s General Stores during the 4th quarter worth $2,375,000. JLB & Associates Inc. grew its position in Casey’s General Stores by 1.8% during the 4th quarter. JLB & Associates Inc. now owns 43,029 shares of the company’s stock worth $17,049,000 after purchasing an additional 749 shares during the last quarter. Finally, Segall Bryant & Hamill LLC grew its position in Casey’s General Stores by 9.1% during the 4th quarter. Segall Bryant & Hamill LLC now owns 53,330 shares of the company’s stock worth $21,131,000 after purchasing an additional 4,458 shares during the last quarter. 85.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CASY has been the topic of several research reports. Evercore ISI raised their price objective on shares of Casey’s General Stores from $450.00 to $460.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 1st. KeyCorp initiated coverage on shares of Casey’s General Stores in a research report on Friday, April 11th. They set an “overweight” rating and a $500.00 price objective on the stock. Stephens raised shares of Casey’s General Stores to a “strong-buy” rating in a research report on Monday, April 7th. Gordon Haskett raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Finally, StockNews.com downgraded shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. One 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $430.33.

Insider Activity

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

Casey’s General Stores Stock Up 0.6%

Shares of NASDAQ:CASY opened at $458.64 on Wednesday. The company has a market cap of $17.02 billion, a price-to-earnings ratio of 31.96, a PEG ratio of 2.40 and a beta of 0.70. The firm’s 50-day simple moving average is $439.64 and its 200-day simple moving average is $420.73. The company has a quick ratio of 0.49, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. Casey’s General Stores, Inc. has a fifty-two week low of $313.89 and a fifty-two week high of $474.97.

Casey’s General Stores (NASDAQ:CASY) last issued its earnings results on Tuesday, March 11th. The company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.57. The business had revenue of $3.90 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.33 earnings per share. As a group, equities research analysts predict that Casey’s General Stores, Inc. will post 13.94 earnings per share 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. Stockholders of record on Thursday, May 1st were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Thursday, May 1st. Casey’s General Stores’s payout ratio is 13.94%.

Casey’s General Stores 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.