Rip Road Capital Partners LP Boosts Stake in Casey’s General Stores, Inc. (NASDAQ:CASY)

Rip Road Capital Partners LP increased its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 65.4% during the fourth quarter, HoldingsChannel reports. The fund owned 14,666 shares of the company’s stock after buying an additional 5,800 shares during the period. Casey’s General Stores comprises approximately 4.9% of Rip Road Capital Partners LP’s investment portfolio, making the stock its 11th biggest holding. Rip Road Capital Partners LP’s holdings in Casey’s General Stores were worth $5,811,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CASY. YANKCOM Partnership purchased a new stake in shares of Casey’s General Stores during the 4th quarter worth approximately $34,000. Endeavor Private Wealth Inc. acquired a new position in Casey’s General Stores during the fourth quarter worth $36,000. MassMutual Private Wealth & Trust FSB boosted its position in Casey’s General Stores by 24.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 149 shares of the company’s stock worth $59,000 after purchasing an additional 29 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in Casey’s General Stores during the fourth quarter worth $79,000. Finally, V Square Quantitative Management LLC grew its holdings in Casey’s General Stores by 32.9% in the fourth quarter. V Square Quantitative Management LLC now owns 210 shares of the company’s stock valued at $83,000 after purchasing an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Analysts Set New Price Targets

CASY has been the subject of several research reports. Royal Bank of Canada set a $438.00 price target on Casey’s General Stores and gave the stock a “sector perform” rating in a research note on Wednesday, March 12th. Gordon Haskett upgraded shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. KeyCorp began coverage on shares of Casey’s General Stores in a report on Friday, April 11th. They issued an “overweight” rating and a $500.00 price target on the stock. Stephens upgraded shares of Casey’s General Stores to a “strong-buy” rating in a research report on Monday, April 7th. Finally, StockNews.com cut shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $430.33.

Casey’s General Stores Stock Performance

NASDAQ:CASY opened at $430.86 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.49. The firm has a market cap of $15.99 billion, a PE ratio of 30.03, a P/E/G ratio of 2.40 and a beta of 0.70. The firm has a 50 day simple moving average of $434.32 and a 200-day simple moving average of $419.01. Casey’s General Stores, Inc. has a 1-year low of $313.89 and a 1-year high of $474.97.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Tuesday, March 11th. The company reported $2.33 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.74 billion. During the same period in the previous year, the firm posted $2.33 EPS. Casey’s General Stores’s revenue was up 17.2% on a year-over-year basis. On average, 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be paid a $0.50 dividend. The ex-dividend date is Thursday, May 1st. This represents a $2.00 annualized dividend and a yield of 0.46%. Casey’s General Stores’s payout ratio is currently 13.94%.

Insider Buying and Selling

In related news, Director Mike Spanos acquired 256 shares of the stock in a transaction dated Thursday, March 13th. The stock was bought at an average cost of $390.54 per share, with a total value of $99,978.24. Following the purchase, the director now directly owns 3,356 shares of the company’s stock, valued at approximately $1,310,652.24. This represents a 8.26% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Katrina S. Lindsey sold 250 shares of the 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 completion of the transaction, the insider now directly owns 2,443 shares in the company, valued at $1,067,615.43. This trade represents a 9.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by company insiders.

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.