Balyasny Asset Management L.P. Grows Stock Position in Casey's General Stores, Inc. (NASDAQ:CASY)

Balyasny Asset Management L.P. boosted its position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 2,693.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,661 shares of the company's stock after buying an additional 56,561 shares during the period. Balyasny Asset Management L.P. owned approximately 0.16% of Casey's General Stores worth $23,243,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in shares of Casey's General Stores during the fourth quarter worth about $236,500,000. Norges Bank acquired a new position in Casey's General Stores during the 4th quarter worth approximately $175,607,000. Wellington Management Group LLP raised its stake in shares of Casey's General Stores by 160.1% during the 4th quarter. Wellington Management Group LLP now owns 428,201 shares of the company's stock worth $169,666,000 after buying an additional 263,545 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Casey's General Stores by 29.5% in the 4th quarter. Franklin Resources Inc. now owns 678,778 shares of the company's stock valued at $268,952,000 after buying an additional 154,541 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Casey's General Stores by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company's stock valued at $285,090,000 after buying an additional 119,350 shares in the last quarter. 85.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CASY has been the subject of a number of recent analyst reports. Gordon Haskett raised Casey's General Stores from a "hold" rating to a "buy" rating in a report on Thursday, February 13th. Royal Bank of Canada set a $438.00 price objective on shares of Casey's General Stores and gave the stock a "sector perform" rating in a report on Wednesday, March 12th. KeyCorp initiated coverage on shares of Casey's General Stores in a research report on Friday, April 11th. They set an "overweight" rating and a $500.00 target price on the stock. StockNews.com downgraded shares of Casey's General Stores from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th. Finally, Stephens upgraded Casey's General Stores to a "strong-buy" rating in a report on Monday, April 7th. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $430.33.

Casey's General Stores Price Performance

Shares of NASDAQ:CASY opened at $467.20 on Wednesday. Casey's General Stores, Inc. has a one year low of $313.89 and a one year high of $470.56. The stock has a market cap of $17.34 billion, a PE ratio of 32.56, a price-to-earnings-growth ratio of 2.40 and a beta of 0.70. The business's fifty day moving average price is $429.58 and its two-hundred day moving average price is $416.95. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.49 and a current ratio of 0.88.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings data on Tuesday, March 11th. The company reported $2.33 EPS for the quarter, topping analysts' consensus estimates of $1.76 by $0.57. The firm had revenue of $3.90 billion during the quarter, compared to analysts' expectations of $3.74 billion. Casey's General Stores had a return on equity of 17.17% and a net margin of 3.57%. The firm's quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.33 EPS. On average, analysts forecast that Casey's General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey's General Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Thursday, May 1st. Casey's General Stores's payout ratio is 13.94%.

Insider Buying and Selling

In related news, insider Katrina S. Lindsey sold 250 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $437.01, for a total value of $109,252.50. Following the sale, the insider now directly owns 2,443 shares of the company's stock, valued at approximately $1,067,615.43. This trade represents a 9.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mike Spanos purchased 256 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average cost of $390.54 per share, with a total value of $99,978.24. Following the transaction, the director now directly owns 3,356 shares of the company's stock, valued at $1,310,652.24. The trade was a 8.26 % increase in their position. The disclosure for this purchase can be found here. 0.56% of the stock is owned by company insiders.

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.

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