TD Asset Management Inc Decreases Stake in Casey’s General Stores, Inc. $CASY

TD Asset Management Inc lowered its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 20.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 80,024 shares of the company’s stock after selling 20,014 shares during the quarter. TD Asset Management Inc’s holdings in Casey’s General Stores were worth $44,230,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of CASY. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Casey’s General Stores by 179,938.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,659,164 shares of the company’s stock worth $1,469,747,000 after purchasing an additional 2,657,687 shares during the period. Norges Bank purchased a new stake in shares of Casey’s General Stores during the 4th quarter worth about $265,163,000. Goldman Sachs Group Inc. grew its holdings in shares of Casey’s General Stores by 175.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 471,536 shares of the company’s stock worth $260,622,000 after purchasing an additional 300,249 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Casey’s General Stores by 35.4% during the 3rd quarter. Victory Capital Management Inc. now owns 791,415 shares of the company’s stock worth $447,403,000 after purchasing an additional 206,777 shares during the period. Finally, M&T Bank Corp grew its holdings in shares of Casey’s General Stores by 15,024.5% during the 4th quarter. M&T Bank Corp now owns 193,140 shares of the company’s stock worth $106,750,000 after purchasing an additional 191,863 shares during the period. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Wall Street Zen cut Casey’s General Stores from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Casey’s General Stores in a report on Friday, March 27th. JPMorgan Chase & Co. started coverage on Casey’s General Stores in a report on Thursday, March 26th. They issued a “neutral” rating and a $719.00 price target for the company. Royal Bank Of Canada upped their price target on Casey’s General Stores from $662.00 to $713.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 10th. Finally, Stephens restated an “overweight” rating and issued a $680.00 price target on shares of Casey’s General Stores in a report on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Casey’s General Stores has an average rating of “Moderate Buy” and a consensus target price of $761.36.

Casey’s General Stores Stock Performance

Casey’s General Stores stock opened at $761.91 on Friday. The stock has a market cap of $28.16 billion, a P/E ratio of 43.74, a price-to-earnings-growth ratio of 2.11 and a beta of 0.61. The company has a current ratio of 1.04, a quick ratio of 0.64 and a debt-to-equity ratio of 0.61. The stock has a 50 day moving average of $788.35 and a 200-day moving average of $675.39. Casey’s General Stores, Inc. has a 52 week low of $433.63 and a 52 week high of $901.00.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Monday, March 9th. The company reported $3.49 EPS for the quarter, beating the consensus estimate of $2.94 by $0.55. The company had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Casey’s General Stores had a return on equity of 17.56% and a net margin of 3.83%.The business’s revenue was up .3% on a year-over-year basis. During the same period in the prior year, the business posted $2.33 EPS. On average, analysts expect that Casey’s General Stores, Inc. will post 18.16 EPS for the current fiscal year.

Insider Activity at Casey’s General Stores

In other Casey’s General Stores news, Director Mike Spanos bought 300 shares of Casey’s General Stores stock in a transaction dated Friday, March 13th. The stock was bought at an average cost of $665.43 per share, for a total transaction of $199,629.00. Following the purchase, the director owned 4,499 shares in the company, valued at $2,993,769.57. This represents a 7.14% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Katrina S. Lindsey sold 200 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $683.04, for a total value of $136,608.00. Following the transaction, the insider owned 4,039 shares of the company’s stock, valued at approximately $2,758,798.56. This trade represents a 4.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.54% of the company’s stock.

About Casey’s General Stores

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.