Lombard Odier Asset Management USA Corp Makes New $1.08 Million Investment in Casey’s General Stores, Inc. $CASY

Lombard Odier Asset Management USA Corp purchased a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) during the 3rd quarter, HoldingsChannel reports. The firm purchased 1,904 shares of the company’s stock, valued at approximately $1,076,000.

A number of other hedge funds have also modified their holdings of CASY. Foster Dykema Cabot & Partners LLC acquired a new stake in shares of Casey’s General Stores during the third quarter worth about $25,000. Westside Investment Management Inc. increased its holdings in Casey’s General Stores by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 46 shares of the company’s stock worth $26,000 after buying an additional 23 shares during the period. Atlantic Union Bankshares Corp purchased a new position in Casey’s General Stores during the 3rd quarter worth approximately $33,000. Cornerstone Planning Group LLC raised its position in Casey’s General Stores by 490.9% during the 3rd quarter. Cornerstone Planning Group LLC now owns 65 shares of the company’s stock worth $34,000 after buying an additional 54 shares during the last quarter. Finally, Osterweis Capital Management Inc. acquired a new stake in Casey’s General Stores during the 2nd quarter valued at approximately $45,000. 85.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CASY has been the topic of several recent research reports. The Goldman Sachs Group upped their price objective on shares of Casey’s General Stores from $530.00 to $605.00 and gave the company a “neutral” rating in a report on Wednesday, March 11th. Northcoast Research downgraded shares of Casey’s General Stores from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 21st. Zacks Research lowered shares of Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a report on Monday, February 23rd. Deutsche Bank Aktiengesellschaft set a $688.00 price target on Casey’s General Stores in a research report on Thursday, January 8th. Finally, UBS Group lifted their price objective on Casey’s General Stores from $600.00 to $706.00 and gave the company a “neutral” rating in a research note on Wednesday, March 11th. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $698.20.

Casey’s General Stores Price Performance

Shares of NASDAQ CASY opened at $673.27 on Tuesday. The stock has a market capitalization of $24.88 billion, a price-to-earnings ratio of 38.65, a PEG ratio of 2.18 and a beta of 0.65. Casey’s General Stores, Inc. has a 12 month low of $386.04 and a 12 month high of $696.66. The firm’s 50 day simple moving average is $645.94 and its 200-day simple moving average is $582.09. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.04 and a quick ratio of 0.64.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Monday, March 9th. The company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.55. Casey’s General Stores had a net margin of 3.83% and a return on equity of 17.56%. The firm had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same period in the previous year, the business posted $2.33 EPS. The business’s revenue was up .3% compared to the same quarter last year. Analysts expect that Casey’s General Stores, Inc. will post 13.94 EPS for the current year.

Casey’s General Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 1st will be issued a $0.57 dividend. The ex-dividend date of this dividend is Friday, May 1st. This represents a $2.28 dividend on an annualized basis and a yield of 0.3%. Casey’s General Stores’s payout ratio is presently 13.09%.

Insiders Place Their Bets

In other Casey’s General Stores news, insider Katrina S. Lindsey sold 200 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $683.04, for a total value of $136,608.00. Following the completion of the transaction, the insider owned 4,039 shares in the company, valued at approximately $2,758,798.56. This represents a 4.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Moats Maria Castanon bought 300 shares of the stock in a transaction dated Monday, January 5th. The shares were purchased at an average cost of $554.66 per share, for a total transaction of $166,398.00. Following the completion of the purchase, the director owned 803 shares in the company, valued at approximately $445,391.98. This represents a 59.64% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.54% of the company’s stock.

Casey’s General Stores Company 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.