TD Asset Management Inc Decreases Stock Position in Casey's General Stores, Inc. $CASY

Key Points

• TD Asset Management reduced its Casey’s General Stores stake by 20% in the fourth quarter, selling 20,014 shares and leaving it with 80,024 shares valued at about $44.23 million.
• Other institutions remained active in the stock, with several adding to positions; overall, 85.63% of Casey’s shares are held by hedge funds and other institutional investors.
• Casey’s posted better-than-expected earnings of $3.49 per share for the quarter, while analysts currently rate the stock a Moderate Buy with an average price target of $761.36.

TD Asset Management Inc cut its holdings in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 20.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,024 shares of the company's stock after selling 20,014 shares during the period. TD Asset Management Inc owned about 0.22% of Casey's General Stores worth $44,230,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its stake in Casey's General Stores by 179,938.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,659,164 shares of the company's stock valued at $1,469,747,000 after purchasing an additional 2,657,687 shares during the last quarter. Victory Capital Management Inc. raised its stake in Casey's General Stores by 35.4% in the 3rd quarter. Victory Capital Management Inc. now owns 791,415 shares of the company's stock valued at $447,403,000 after purchasing an additional 206,777 shares during the last quarter. Geode Capital Management LLC raised its stake in Casey's General Stores by 7.4% in the 4th quarter. Geode Capital Management LLC now owns 760,438 shares of the company's stock valued at $420,416,000 after purchasing an additional 52,250 shares during the last quarter. Franklin Resources Inc. raised its stake in Casey's General Stores by 7.0% in the 3rd quarter. Franklin Resources Inc. now owns 758,212 shares of the company's stock valued at $428,632,000 after purchasing an additional 49,319 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Casey's General Stores by 5.0% in the 3rd quarter. Invesco Ltd. now owns 507,998 shares of the company's stock valued at $287,182,000 after purchasing an additional 24,091 shares during the last quarter. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Casey's General Stores

In other 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 transaction of $136,608.00. Following the completion of the transaction, the insider owned 4,039 shares of the company's stock, valued at $2,758,798.56. This represents a 4.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mike Spanos acquired 300 shares of the company's stock in a transaction dated Friday, March 13th. The shares were bought at an average cost of $665.43 per share, with a total value of $199,629.00. Following the purchase, the director owned 4,499 shares in the company, valued at approximately $2,993,769.57. The trade was a 7.14% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.54% of the company's stock.

Casey's General Stores Trading Up 0.0%

NASDAQ CASY opened at $761.91 on Friday. Casey's General Stores, Inc. has a 12 month low of $433.63 and a 12 month high of $901.00. The company has a 50-day moving average of $788.35 and a 200-day moving average of $675.39. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.04 and a quick ratio of 0.64. The company has a market cap of $28.16 billion, a P/E ratio of 43.74, a P/E/G ratio of 2.11 and a beta of 0.61.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings data on Monday, March 9th. The company reported $3.49 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the prior year, the company posted $2.33 EPS. The company's quarterly revenue was up .3% compared to the same quarter last year. As a group, equities analysts predict that Casey's General Stores, Inc. will post 18.16 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on CASY. Wells Fargo & Company boosted their target price on shares of Casey's General Stores from $745.00 to $910.00 and gave the company an "overweight" rating in a research note on Tuesday, May 26th. UBS Group boosted their target price on shares of Casey's General Stores from $706.00 to $805.00 and gave the company a "neutral" rating in a research note on Wednesday. Weiss Ratings reissued a "buy (b)" rating on shares of Casey's General Stores in a research note on Friday, March 27th. Stephens reissued an "overweight" rating and issued a $680.00 target price on shares of Casey's General Stores in a research note on Tuesday, March 10th. Finally, William Blair began coverage on shares of Casey's General Stores in a research note on Wednesday, May 20th. They issued an "outperform" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, Casey's General Stores presently has an average rating of "Moderate Buy" and an average price target of $761.36.

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.

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