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

Point72 Asset Management L.P. lowered its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 87.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm 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 reporting period.

A number of other hedge funds have also recently made changes to their positions in CASY. Raymond James Financial Inc. purchased a new position in shares of Casey’s General Stores during the 4th quarter worth approximately $236,500,000. Norges Bank purchased a new position in shares of Casey’s General Stores during the 4th quarter worth approximately $175,607,000. Wellington Management Group LLP boosted its position in shares of Casey’s General Stores by 160.1% during the 4th quarter. Wellington Management Group LLP now owns 428,201 shares of the company’s stock worth $169,666,000 after purchasing an additional 263,545 shares during the period. Franklin Resources Inc. boosted its position in shares of Casey’s General Stores by 29.5% during the 4th quarter. Franklin Resources Inc. now owns 678,778 shares of the company’s stock worth $268,952,000 after purchasing an additional 154,541 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Casey’s General Stores by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company’s stock worth $285,090,000 after purchasing an additional 119,350 shares during the period. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Price Performance

Shares of CASY opened at $458.64 on Wednesday. Casey’s General Stores, Inc. has a twelve month low of $313.89 and a twelve month high of $474.97. The firm’s fifty day simple moving average is $439.64 and its 200-day simple moving average is $420.73. The firm has a market capitalization 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 company has a current ratio of 0.88, a quick ratio of 0.49 and a debt-to-equity ratio of 0.74.

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

Casey’s General Stores Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on CASY shares. 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. Royal Bank of Canada set a $438.00 target price on shares of Casey’s General Stores and gave the stock a “sector perform” rating in a report on Wednesday, March 12th. Stephens upgraded shares of Casey’s General Stores to a “strong-buy” rating in a report on Monday, April 7th. Evercore ISI increased their target price on shares of Casey’s General Stores from $450.00 to $460.00 and gave the stock an “outperform” rating in a report on Tuesday, April 1st. Finally, StockNews.com lowered shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $430.33.

Insider Activity

In related news, Director Mike Spanos bought 256 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average cost of $390.54 per share, with a total value of $99,978.24. Following the transaction, the director now directly owns 3,356 shares of the company’s stock, valued at approximately $1,310,652.24. This represents a 8.26% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Katrina S. Lindsey sold 250 shares of the 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 completion of the transaction, 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 disclosure for this sale can be found here. Company insiders own 0.56% of the company’s stock.

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.