Picton Mahoney Asset Management Purchases New Shares in Casey’s General Stores, Inc. $CASY

Picton Mahoney Asset Management acquired a new stake in Casey’s General Stores, Inc. (NASDAQ:CASY) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 775 shares of the company’s stock, valued at approximately $438,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Westside Investment Management Inc. boosted its stake in shares of Casey’s General Stores by 100.0% during the third 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. Nvwm LLC acquired a new position in Casey’s General Stores in the 2nd quarter valued at about $32,000. Atlantic Union Bankshares Corp purchased a new stake in Casey’s General Stores during the 3rd quarter valued at approximately $33,000. Cornerstone Planning Group LLC raised its stake 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 valued at $34,000 after acquiring 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 worth approximately $45,000. 85.63% of the stock is owned by hedge funds and other institutional investors.

Casey’s General Stores Price Performance

Shares of CASY opened at $664.60 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.65 and a debt-to-equity ratio of 0.62. The stock’s 50 day moving average is $632.08 and its two-hundred day moving average is $574.29. Casey’s General Stores, Inc. has a twelve month low of $372.08 and a twelve month high of $690.00. The firm has a market capitalization of $24.64 billion, a PE ratio of 40.87, a P/E/G ratio of 2.29 and a beta of 0.65.

Casey’s General Stores (NASDAQ:CASY) last issued its earnings results on Tuesday, December 9th. The company reported $5.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.92 by $0.61. The business had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.51 billion. Casey’s General Stores had a return on equity of 16.89% and a net margin of 3.58%.The company’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the prior year, the business posted $4.85 EPS. Research analysts anticipate that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current year.

Insiders Place Their Bets

In other Casey’s General Stores news, Director Moats Maria Castanon acquired 300 shares of the business’s stock in a transaction on Monday, January 5th. The stock was purchased at an average price of $554.66 per share, for a total transaction of $166,398.00. Following the completion of the transaction, the director owned 803 shares of the company’s stock, valued at $445,391.98. The trade was a 59.64% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.54% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CASY shares. Evercore set a $665.00 target price on Casey’s General Stores and gave the company an “outperform” rating in a research note on Tuesday, February 24th. Bank of America initiated coverage on Casey’s General Stores in a report on Friday, January 9th. They set a “buy” rating for the company. KeyCorp reiterated an “overweight” rating and issued a $700.00 price objective on shares of Casey’s General Stores in a research report on Thursday, February 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Casey’s General Stores in a research note on Monday, December 29th. Finally, Zacks Research downgraded shares of Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 23rd. Eight analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $647.00.

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.