Longboard Asset Management LP Buys Shares of 583 Casey’s General Stores, Inc. (NASDAQ:CASY)

Longboard Asset Management LP purchased a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 583 shares of the company’s stock, valued at approximately $231,000.

Several other institutional investors and hedge funds have also modified their holdings of CASY. Endeavor Private Wealth Inc. bought a new position in Casey’s General Stores in the fourth quarter valued at about $36,000. Venturi Wealth Management LLC grew its holdings in shares of Casey’s General Stores by 941.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 125 shares of the company’s stock valued at $47,000 after purchasing an additional 113 shares during the last quarter. V Square Quantitative Management LLC increased its position in Casey’s General Stores by 22.5% during the 3rd quarter. V Square Quantitative Management LLC now owns 158 shares of the company’s stock worth $59,000 after purchasing an additional 29 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Casey’s General Stores by 24.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 149 shares of the company’s stock valued at $59,000 after purchasing an additional 29 shares during the last quarter. Finally, Kennebec Savings Bank bought a new position in Casey’s General Stores in the 3rd quarter valued at approximately $76,000. 85.63% of the stock is currently owned by institutional investors.

Casey’s General Stores Stock Performance

Shares of CASY stock opened at $419.58 on Tuesday. Casey’s General Stores, Inc. has a 52 week low of $269.50 and a 52 week high of $439.68. 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’s 50-day simple moving average is $408.27 and its two-hundred day simple moving average is $392.19. The firm has a market cap of $15.57 billion, a price-to-earnings ratio of 29.24, a P/E/G ratio of 2.40 and a beta of 0.83.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Monday, December 9th. The company reported $4.85 EPS for the quarter, topping the consensus estimate of $4.29 by $0.56. The company had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $4.03 billion. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. Casey’s General Stores’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period last year, the firm earned $4.24 EPS. As a group, equities analysts forecast that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey’s General Stores Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 17th. Shareholders of record on Monday, February 3rd will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.00 annualized dividend and a yield of 0.48%. Casey’s General Stores’s dividend payout ratio is currently 13.94%.

Insider Buying and Selling at Casey’s General Stores

In other news, Director Mike Spanos acquired 500 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average cost of $396.76 per share, with a total value of $198,380.00. Following the acquisition, the director now owns 3,097 shares in the company, valued at approximately $1,228,765.72. This represents a 19.25 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Katrina S. Lindsey sold 450 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $427.13, for a total transaction of $192,208.50. Following the transaction, the insider now owns 2,247 shares in the company, valued at $959,761.11. The trade was a 16.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

CASY has been the subject of several research analyst reports. BMO Capital Markets reiterated a “market perform” rating and set a $450.00 price target (up from $400.00) on shares of Casey’s General Stores in a report on Wednesday, December 18th. StockNews.com downgraded Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a report on Friday, December 13th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Casey’s General Stores from $451.00 to $454.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Royal Bank of Canada upped their target price on Casey’s General Stores from $403.00 to $428.00 and gave the company a “sector perform” rating in a research report on Tuesday, December 10th. Finally, Gordon Haskett started coverage on shares of Casey’s General Stores in a research note on Monday, November 4th. They issued a “hold” rating and a $400.00 price objective for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $424.00.

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.