Skye Global Management LP Has $66.77 Million Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

Skye Global Management LP lowered its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 22.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 168,500 shares of the company’s stock after selling 50,000 shares during the quarter. Casey’s General Stores accounts for about 1.4% of Skye Global Management LP’s portfolio, making the stock its 14th biggest position. Skye Global Management LP owned about 0.45% of Casey’s General Stores worth $66,765,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. YANKCOM Partnership bought a new position in shares of Casey’s General Stores during the fourth quarter worth about $34,000. Endeavor Private Wealth Inc. bought a new position in Casey’s General Stores during the fourth quarter worth about $36,000. MassMutual Private Wealth & Trust FSB raised its stake in Casey’s General Stores by 24.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 149 shares of the company’s stock valued at $59,000 after acquiring an additional 29 shares during the period. Heck Capital Advisors LLC bought a new stake in shares of Casey’s General Stores during the 4th quarter worth about $79,000. Finally, V Square Quantitative Management LLC grew its position in shares of 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. Institutional investors own 85.63% of the company’s stock.

Analyst Upgrades and Downgrades

CASY has been the subject of a number of analyst reports. 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. Evercore ISI increased their price objective 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. Gordon Haskett raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Royal Bank of Canada set a $438.00 price objective on Casey’s General Stores and gave the stock a “sector perform” rating in a research note on Wednesday, March 12th. Finally, KeyCorp assumed coverage on Casey’s General Stores in a research note on Friday, April 11th. They issued an “overweight” rating and a $500.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $430.33.

Insider Buying and Selling

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

Casey’s General Stores Stock Performance

NASDAQ:CASY opened at $442.43 on Friday. The business has a fifty day simple moving average of $435.54 and a two-hundred day simple moving average of $419.30. Casey’s General Stores, Inc. has a 1 year low of $313.89 and a 1 year high of $474.97. The company has a market capitalization of $16.42 billion, a P/E ratio of 30.83, a P/E/G ratio of 2.40 and a beta of 0.70. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.49.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Tuesday, March 11th. The company reported $2.33 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.74 billion. During the same quarter in the prior year, the business posted $2.33 earnings per share. The business’s quarterly revenue was up 17.2% on a year-over-year basis. On average, analysts expect that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey’s General Stores Announces Dividend

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

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.