TD Asset Management Inc Cuts Holdings in Casey’s General Stores, Inc. $CASY

TD Asset Management Inc trimmed its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 20.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 100,038 shares of the company’s stock after selling 24,935 shares during the period. TD Asset Management Inc owned about 0.27% of Casey’s General Stores worth $56,553,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vontobel Holding Ltd. boosted its stake in shares of Casey’s General Stores by 129.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 890,884 shares of the company’s stock worth $503,635,000 after buying an additional 502,104 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Casey’s General Stores by 0.3% during the second quarter. Franklin Resources Inc. now owns 708,893 shares of the company’s stock valued at $361,727,000 after acquiring an additional 2,467 shares during the last quarter. Invesco Ltd. lifted its holdings in Casey’s General Stores by 71.7% during the second quarter. Invesco Ltd. now owns 483,907 shares of the company’s stock worth $246,923,000 after acquiring an additional 202,033 shares during the period. Norges Bank purchased a new position in Casey’s General Stores in the second quarter worth $210,151,000. Finally, Third Point LLC boosted its position in Casey’s General Stores by 20.0% in the second quarter. Third Point LLC now owns 360,000 shares of the company’s stock worth $183,697,000 after purchasing an additional 60,000 shares during the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Insider Buying and Selling at Casey’s General Stores

In related news, Director Moats Maria Castanon acquired 300 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were bought at an average cost of $554.66 per share, for a total transaction of $166,398.00. Following the purchase, the director owned 803 shares in the company, valued at $445,391.98. This trade represents a 59.64% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CASY. Stephens raised their target price on Casey’s General Stores from $570.00 to $600.00 and gave the company an “overweight” rating in a research report on Wednesday, December 3rd. Bank of America began coverage on shares of Casey’s General Stores in a research report on Friday, January 9th. They set a “buy” rating for the company. Deutsche Bank Aktiengesellschaft set a $688.00 price objective on shares of Casey’s General Stores in a report on Thursday, January 8th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $530.00 price objective on shares of Casey’s General Stores in a research report on Wednesday, December 10th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Casey’s General Stores in a research report on Monday, December 29th. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $621.00.

Casey’s General Stores Price Performance

CASY opened at $682.35 on Friday. The firm has a 50-day moving average price of $618.76 and a 200-day moving average price of $566.91. Casey’s General Stores, Inc. has a twelve month low of $372.08 and a twelve month high of $685.79. The company has a quick ratio of 0.65, a current ratio of 1.05 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $25.29 billion, a price-to-earnings ratio of 41.96, a PEG ratio of 2.39 and a beta of 0.68.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Tuesday, December 9th. The company reported $5.53 EPS for the quarter, topping the consensus estimate of $4.92 by $0.61. Casey’s General Stores had a net margin of 3.58% and a return on equity of 16.89%. The company had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.51 billion. During the same period last year, the firm earned $4.85 EPS. Casey’s General Stores’s revenue for the quarter was up 14.2% on a year-over-year basis. Equities analysts expect that Casey’s General Stores, Inc. will post 13.94 EPS for the current year.

Casey’s General Stores Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Sunday, February 1st were issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, January 30th. Casey’s General Stores’s dividend payout ratio (DPR) is presently 14.02%.

Casey’s General Stores Company 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.