Iridian Asset Management LLC CT Increases Position in Casey’s General Stores (CASY)

Iridian Asset Management LLC CT increased its holdings in shares of Casey’s General Stores (NASDAQ:CASY) by 16.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,277,835 shares of the company’s stock after purchasing an additional 184,641 shares during the period. Iridian Asset Management LLC CT owned 3.40% of Casey’s General Stores worth $140,268,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in CASY. Prime Capital Investment Advisors LLC acquired a new position in Casey’s General Stores in the 4th quarter worth $105,000. Amundi Pioneer Asset Management Inc. acquired a new position in Casey’s General Stores in the 4th quarter worth $133,000. Aristotle Atlantic Partners LLC acquired a new position in Casey’s General Stores in the 4th quarter worth $204,000. Franklin Resources Inc. acquired a new position in Casey’s General Stores in the 4th quarter worth $222,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Casey’s General Stores by 37.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,450 shares of the company’s stock worth $274,000 after buying an additional 671 shares in the last quarter. 93.14% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have commented on CASY. Goldman Sachs Group started coverage on shares of Casey’s General Stores in a report on Thursday, April 5th. They issued a “neutral” rating and a $106.00 price objective on the stock. BMO Capital Markets set a $122.00 target price on shares of Casey’s General Stores and gave the company a “hold” rating in a research note on Wednesday, March 7th. Stephens set a $140.00 target price on shares of Casey’s General Stores and gave the company a “buy” rating in a research note on Wednesday, March 21st. Zacks Investment Research upgraded shares of Casey’s General Stores from a “hold” rating to a “buy” rating and set a $131.00 target price on the stock in a research note on Tuesday, February 20th. Finally, Jefferies Group restated a “buy” rating and issued a $136.00 target price on shares of Casey’s General Stores in a research note on Thursday, March 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $122.91.

In related news, VP William J. Walljasper sold 1,000 shares of the company’s stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $108.85, for a total value of $108,850.00. Following the sale, the vice president now directly owns 21,452 shares of the company’s stock, valued at $2,335,050.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Terry W. Handley sold 1,342 shares of the company’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $110.65, for a total value of $148,492.30. Following the completion of the sale, the insider now directly owns 29,331 shares in the company, valued at $3,245,475.15. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Shares of NASDAQ:CASY opened at $99.85 on Thursday. The company has a quick ratio of 0.48, a current ratio of 1.03 and a debt-to-equity ratio of 0.98. The stock has a market cap of $3.63 billion, a P/E ratio of 22.29, a price-to-earnings-growth ratio of 1.61 and a beta of 0.61. Casey’s General Stores has a fifty-two week low of $95.18 and a fifty-two week high of $128.51.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Wednesday, March 7th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.14). The business had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.05 billion. Casey’s General Stores had a net margin of 4.03% and a return on equity of 12.70%. Casey’s General Stores’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.58 EPS. equities analysts expect that Casey’s General Stores will post 3.95 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Tuesday, May 1st were issued a dividend of $0.26 per share. The ex-dividend date was Monday, April 30th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.04%. Casey’s General Stores’s dividend payout ratio is presently 23.21%.

Casey’s General Stores announced that its Board of Directors has authorized a stock buyback program on Wednesday, March 7th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Casey’s General Stores Profile

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. The company's stores offer a selection of food, including freshly prepared foods, such as pizza, donuts, and sandwiches; beverage and tobacco products; health and beauty aids; automotive products; school supplies, housewares, and pet supplies; and other nonfood items.

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Institutional Ownership by Quarter for Casey`s General Stores (NASDAQ:CASY)

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