Casey’s General Stores (CASY) Posted Higher Than Expected Results

TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy returned 4.18% (net), compared to 6.90% for the Russell Midcap Growth Index. For the calendar year, the strategy returned -22.13% (net) compared to the benchmark’s return of -26.72%. Weakness in Consumer Staples, Energy, Health Care, Information Technology, and Real Estate holdings led to the underperformance of the portfolio in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

TimesSquare U.S. Mid Cap Growth Strategy highlighted stocks like Casey’s General Stores, Inc. (NASDAQ:CASY) in the Q4 2022 investor letter. Headquartered in Ankeny, Iowa, Casey’s General Stores, Inc. (NASDAQ:CASY) is a convenience store. On March 30, 2023, Casey’s General Stores, Inc. (NASDAQ:CASY) stock closed at $214.43 per share. One-month return of Casey’s General Stores, Inc. (NASDAQ:CASY) was 0.59%, and its shares gained 8.18% of their value over the last 52 weeks. Casey’s General Stores, Inc. (NASDAQ:CASY) has a market capitalization of $7.99 billion.

TimesSquare U.S. Mid Cap Growth Strategy made the following comment about Casey’s General Stores, Inc. (NASDAQ:CASY) in its Q4 2022 investor letter:

“More positive was Casey’s General Stores, Inc. (NASDAQ:CASY), which operates over 2,000 gas stations and convenience stores across the Midwestern U.S. Results were higher than expected in the latest quarter and driven by better same store sales. We trimmed the position on its 11% share price appreciation.”

Photo by Peter Bond 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, 29 hedge fund portfolios held Casey’s General Stores, Inc. (NASDAQ:CASY) at the end of the fourth quarter which was 24 in the previous quarter.

We discussed Casey’s General Stores, Inc. (NASDAQ:CASY) in another article and shared the list of high growth retail stocks that are profitable. In addition, please check out our hedge fund investor letters Q4 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.