Arrowstreet Capital Limited Partnership Buys Shares of 16,023 Casey’s General Stores, Inc. $CASY

Arrowstreet Capital Limited Partnership bought a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,023 shares of the company’s stock, valued at approximately $8,176,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in shares of Casey’s General Stores by 190.6% in the first quarter. Wellington Management Group LLP now owns 1,244,311 shares of the company’s stock valued at $540,081,000 after purchasing an additional 816,110 shares during the period. Norges Bank bought a new stake in shares of Casey’s General Stores during the 2nd quarter valued at $210,151,000. Third Point LLC bought a new stake in shares of Casey’s General Stores during the 1st quarter valued at $130,212,000. Nuveen LLC purchased a new stake in Casey’s General Stores during the 1st quarter worth about $76,467,000. Finally, Alyeska Investment Group L.P. bought a new position in Casey’s General Stores in the 1st quarter worth about $65,298,000. 85.63% of the stock is currently owned by institutional investors.

Casey’s General Stores Price Performance

Shares of Casey’s General Stores stock opened at $533.18 on Thursday. The firm has a market capitalization of $19.82 billion, a PE ratio of 32.79 and a beta of 0.65. The company has a current ratio of 1.03, a quick ratio of 0.61 and a debt-to-equity ratio of 0.65. Casey’s General Stores, Inc. has a 12 month low of $372.08 and a 12 month high of $573.76. The business’s 50-day moving average price is $548.65 and its 200-day moving average price is $524.05.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Tuesday, December 9th. The company reported $5.53 EPS for the quarter, beating analysts’ consensus estimates of $4.92 by $0.61. Casey’s General Stores had a net margin of 3.58% and a return on equity of 17.24%. The business had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.51 billion. During the same period last year, the business earned $4.85 earnings per share. The business’s quarterly revenue was up 14.2% on a year-over-year basis. Sell-side analysts forecast that Casey’s General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Sunday, February 1st will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Friday, January 30th. Casey’s General Stores’s dividend payout ratio is currently 14.63%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CASY shares. The Goldman Sachs Group reiterated a “neutral” rating and set a $530.00 price target on shares of Casey’s General Stores in a research report on Wednesday. Wells Fargo & Company boosted their price objective on shares of Casey’s General Stores from $610.00 to $625.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. Jefferies Financial Group raised their price target on shares of Casey’s General Stores from $575.00 to $600.00 and gave the company a “buy” rating in a report on Tuesday, September 9th. Royal Bank Of Canada upped their price target on shares of Casey’s General Stores from $570.00 to $591.00 and gave the stock a “sector perform” rating in a report on Wednesday. Finally, UBS Group began coverage on Casey’s General Stores in a research report on Wednesday, December 3rd. They set a “neutral” rating and a $600.00 price target for the company. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $585.67.

Insider Transactions at Casey’s General Stores

In related news, insider Chad Michael Frazell sold 3,487 shares of the business’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $555.40, for a total transaction of $1,936,679.80. Following the transaction, the insider owned 7,993 shares in the company, valued at $4,439,312.20. The trade was a 30.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.54% of the stock is currently owned by corporate insiders.

About Casey’s General Stores

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.