Is it a Good Move to Invest in Casey’s (CASY)?

Upslope Capital Management, an investment management firm, published its first-quarter 2022 investor letter – a copy of which can be downloaded here. A quarterly portfolio net return of -0.3% was recorded by the fund for the first quarter of 2022, compared to the S&P Midcap 400 ETF and the HFRX Equity Hedge Index that delivered -5.0% and -0.3% gains for the same period. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Upslope Capital mentioned Casey’s General Stores, Inc. (NASDAQ:CASY) and explained its insights for the company. Founded in 1959, Casey’s General Stores, Inc. (NASDAQ:CASY)  is an Ankeny, Iowa-based convenience store company with a $7.8 billion market capitalization. Casey’s General Stores, Inc. (NASDAQ:CASY)  delivered a 7.35% return since the beginning of the year, while its 12-month returns are down by -5.06%. The stock closed at $211.85 per share on April 25, 2022.

Here is what Upslope Capital has to say about Casey’s General Stores, Inc. (NASDAQ:CASY) in its Q1 2022 investor letter:

“Casey’s General Stores (NASDAQ:CASY): 3rd largest independent convenience store operator in the U.S. and 5th largest pizza chain; unique footprint exclusively focused on the Midwest/South. Growing business with highly defensible model offers good value and significant optionality from organic initiatives and M&A.”

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Our calculations show that Casey’s General Stores, Inc. (NASDAQ:CASY) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Casey’s General Stores, Inc. (NASDAQ:CASY) was in 22 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 22 funds in the previous quarter. Casey’s General Stores, Inc. (NASDAQ:CASY) delivered a 11.96% return in the past 3 months.

In February 2022, we also shared another hedge fund’s views on Casey’s General Stores, Inc. (NASDAQ:CASY) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

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