TimesSquare Capital Management LLC Makes New Investment in Casey’s General Stores, Inc. $CASY

TimesSquare Capital Management LLC purchased a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 75,574 shares of the company’s stock, valued at approximately $60,065,000.

A number of other hedge funds have also made changes to their positions in the stock. Whipplewood Advisors LLC bought a new position in shares of Casey’s General Stores in the 1st quarter valued at approximately $33,000. Bell Investment Advisors Inc bought a new stake in Casey’s General Stores during the second quarter worth approximately $33,000. Larson Financial Group LLC boosted its position in Casey’s General Stores by 252.4% during the fourth quarter. Larson Financial Group LLC now owns 74 shares of the company’s stock worth $41,000 after purchasing an additional 53 shares during the period. RMG Wealth Management LLC boosted its position in Casey’s General Stores by 250.0% during the first quarter. RMG Wealth Management LLC now owns 56 shares of the company’s stock worth $41,000 after purchasing an additional 40 shares during the period. Finally, Elyxium Wealth LLC acquired a new position in Casey’s General Stores during the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

Insider Buying and Selling at Casey’s General Stores

In other Casey’s General Stores news, insider Chad Michael Frazell sold 3,013 shares of the firm’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $787.49, for a total value of $2,372,707.37. Following the sale, the insider directly owned 9,823 shares in the company, valued at $7,735,514.27. This trade represents a 23.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Darren M. Rebelez sold 19,000 shares of the business’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $801.46, for a total transaction of $15,227,740.00. Following the transaction, the chief executive officer owned 89,174 shares in the company, valued at approximately $71,469,394.04. The trade was a 17.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 30,243 shares of company stock valued at $24,421,877 in the last three months. 0.67% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CASY. Royal Bank Of Canada reissued a “sector perform” rating and issued a $913.00 price target on shares of Casey’s General Stores in a research report on Wednesday, July 29th. KeyCorp upped their price objective on shares of Casey’s General Stores from $950.00 to $970.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. Northcoast Research upgraded shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $950.00 target price on the stock in a research note on Monday, July 13th. Weiss Ratings downgraded shares of Casey’s General Stores from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, July 21st. Finally, Capital One Financial assumed coverage on shares of Casey’s General Stores in a research report on Monday, June 22nd. They set an “equal weight” rating and a $896.00 target price for the company. Fourteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $944.20.

Casey’s General Stores Stock Performance

CASY opened at $870.01 on Tuesday. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The stock’s 50 day moving average price is $839.94 and its two-hundred day moving average price is $770.63. The firm has a market capitalization of $32.20 billion, a P/E ratio of 45.41, a price-to-earnings-growth ratio of 2.54 and a beta of 0.61. Casey’s General Stores, Inc. has a 12-month low of $490.00 and a 12-month high of $927.85.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $1.06. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The company had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same period in the previous year, the company earned $2.63 earnings per share. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, equities analysts forecast that Casey’s General Stores, Inc. will post 21.14 earnings per share for the current year.

Casey’s General Stores Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Saturday, August 1st were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.3%. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Friday, July 31st. Casey’s General Stores’s payout ratio is presently 13.57%.

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.