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Should You Consider Buying Casey’s General Stores (CASY) Stock?

TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy returned -0.21% (net), compared to -0.65% for the Russell Midcap Growth Index. Strength in Consumer Discretionary, Energy, Financials, Industrials, Information Technology, and Materials sectors contributed to the performance of the strategy in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

TimesSquare Capital highlighted stocks like Casey’s General Stores, Inc. (NASDAQ:CASY) in its Q3 2022 investor letter. Headquartered in Santa Barbara, California, Casey’s General Stores, Inc. (NASDAQ:CASY) is a convenience stores operator. On December 22, 2022, Casey’s General Stores, Inc. (NASDAQ:CASY) stock closed at $233.83 per share. One-month return of Casey’s General Stores, Inc. (NASDAQ:CASY) was -2.17% and its shares gained 20.17% of their value over the last 52 weeks. Casey’s General Stores, Inc. (NASDAQ:CASY) has a market capitalization of $8.712 billion.

TimesSquare Capital made the following comment about Casey’s General Stores, Inc. (NASDAQ:CASY) in its Q3 2022 investor letter:

“Casey’s General Stores, Inc. (NASDAQ:CASY), which operates over 2,000 gas stations and convenience stores across the Midwestern U.S., rose 10%. Fiscal first quarter results outpaced consensus estimates on the strength of higher fuel margins. We added to the position early in the quarter.”

Photo by 卓倩 李 on Unsplash

Casey’s General Stores, Inc. (NASDAQ:CASY) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 24 hedge fund portfolios held Casey’s General Stores, Inc. (NASDAQ:CASY) at the end of the third quarter, which was 23 in the previous quarter.

We discussed Casey’s General Stores, Inc. (NASDAQ:CASY) in another article and shared the best grocery stocks to buy. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.

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