GAMMA Investing LLC Buys 542,855 Shares of Casey's General Stores, Inc. (NASDAQ:CASY)

GAMMA Investing LLC grew its stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 54,448.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 543,852 shares of the company's stock after purchasing an additional 542,855 shares during the quarter. GAMMA Investing LLC owned approximately 1.47% of Casey's General Stores worth $236,054,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Barclays PLC boosted its holdings in shares of Casey's General Stores by 110.5% during the 3rd quarter. Barclays PLC now owns 22,487 shares of the company's stock worth $8,450,000 after buying an additional 11,802 shares during the period. JPMorgan Chase & Co. raised its holdings in Casey's General Stores by 18.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company's stock valued at $285,090,000 after acquiring an additional 119,350 shares during the period. Blue Trust Inc. lifted its position in Casey's General Stores by 35.6% during the fourth quarter. Blue Trust Inc. now owns 769 shares of the company's stock worth $289,000 after acquiring an additional 202 shares during the last quarter. KBC Group NV boosted its holdings in shares of Casey's General Stores by 45.5% during the fourth quarter. KBC Group NV now owns 1,375 shares of the company's stock worth $545,000 after acquiring an additional 430 shares during the period. Finally, Pacer Advisors Inc. boosted its holdings in shares of Casey's General Stores by 31.6% during the fourth quarter. Pacer Advisors Inc. now owns 7,185 shares of the company's stock worth $2,847,000 after acquiring an additional 1,727 shares during the period. Institutional investors and hedge funds own 85.63% of the company's stock.

Insider Transactions at Casey's General Stores

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

Casey's General Stores Price Performance

Shares of NASDAQ:CASY traded up $9.22 during trading on Wednesday, reaching $447.90. 385,099 shares of the company traded hands, compared to its average volume of 298,156. The firm has a market capitalization of $16.63 billion, a PE ratio of 31.21, a PEG ratio of 2.40 and a beta of 0.70. Casey's General Stores, Inc. has a 52 week low of $313.89 and a 52 week high of $474.97. The company has a quick ratio of 0.49, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. The company's 50 day moving average is $447.06 and its two-hundred day moving average is $423.39.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings results on Tuesday, March 11th. The company reported $2.33 EPS for the quarter, beating analysts' consensus estimates of $1.76 by $0.57. Casey's General Stores had a return on equity of 17.17% and a net margin of 3.57%. The business had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.74 billion. During the same quarter in the previous year, the firm earned $2.33 earnings per share. Casey's General Stores's revenue for the quarter was up 17.2% compared to the same quarter last year. As a group, sell-side analysts predict that Casey's General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey's General Stores Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Thursday, May 1st. Casey's General Stores's payout ratio is presently 13.94%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Stephens upgraded Casey's General Stores to a "strong-buy" rating in a research note on Monday, April 7th. Royal Bank of Canada set a $438.00 price objective on Casey's General Stores and gave the company a "sector perform" rating in a report on Wednesday, March 12th. KeyCorp began coverage on Casey's General Stores in a report on Friday, April 11th. They set an "overweight" rating and a $500.00 target price for the company. Gordon Haskett raised shares of Casey's General Stores from a "hold" rating to a "buy" rating in a research report on Thursday, February 13th. Finally, Evercore ISI upped their price target on shares of Casey's General Stores from $450.00 to $460.00 and gave the company an "outperform" rating in a research note on Tuesday, April 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $430.33.

About Casey's General Stores

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.