Martingale Asset Management L P Decreases Stake in Casey’s General Stores, Inc. (NASDAQ:CASY)

Martingale Asset Management L P lessened its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 17.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 75,863 shares of the company’s stock after selling 15,650 shares during the quarter. Martingale Asset Management L P’s holdings in Casey’s General Stores were worth $28,502,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. International Assets Investment Management LLC acquired a new stake in shares of Casey’s General Stores during the 3rd quarter worth about $959,880,000. Millennium Management LLC raised its position in shares of Casey’s General Stores by 3,846.1% during the 2nd quarter. Millennium Management LLC now owns 172,320 shares of the company’s stock worth $65,750,000 after acquiring an additional 176,920 shares in the last quarter. Bridges Investment Management Inc. raised its position in shares of Casey’s General Stores by 110.0% during the 2nd quarter. Bridges Investment Management Inc. now owns 177,190 shares of the company’s stock worth $67,609,000 after acquiring an additional 92,813 shares in the last quarter. American Century Companies Inc. raised its position in shares of Casey’s General Stores by 189.1% during the 2nd quarter. American Century Companies Inc. now owns 132,375 shares of the company’s stock worth $50,509,000 after acquiring an additional 86,582 shares in the last quarter. Finally, EULAV Asset Management raised its position in shares of Casey’s General Stores by 196.3% during the 3rd quarter. EULAV Asset Management now owns 128,000 shares of the company’s stock worth $48,091,000 after acquiring an additional 84,800 shares in the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CASY. Deutsche Bank Aktiengesellschaft raised their target price on Casey’s General Stores from $451.00 to $454.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Gordon Haskett initiated coverage on Casey’s General Stores in a research report on Monday, November 4th. They set a “hold” rating and a $400.00 price target on the stock. JPMorgan Chase & Co. lowered Casey’s General Stores from a “neutral” rating to an “underweight” rating and lifted their price target for the stock from $300.00 to $337.00 in a research report on Thursday, September 19th. Melius Research initiated coverage on Casey’s General Stores in a research report on Monday, September 23rd. They set a “buy” rating and a $435.00 price target on the stock. Finally, Evercore ISI lifted their price target on Casey’s General Stores from $435.00 to $440.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $408.25.

Casey’s General Stores Stock Down 1.3 %

Shares of Casey’s General Stores stock opened at $420.98 on Friday. Casey’s General Stores, Inc. has a twelve month low of $266.56 and a twelve month high of $435.60. The company has a current ratio of 0.84, a quick ratio of 0.44 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $15.63 billion, a price-to-earnings ratio of 30.64 and a beta of 0.79. The business’s 50 day simple moving average is $393.24 and its 200-day simple moving average is $374.74.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, beating the consensus estimate of $4.54 by $0.29. The firm had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.15 billion. Casey’s General Stores had a return on equity of 17.07% and a net margin of 3.40%. The firm’s revenue was up 5.9% compared to the same quarter last year. During the same period last year, the firm earned $4.52 EPS. Equities research analysts forecast that Casey’s General Stores, Inc. will post 14.22 earnings per share for the current year.

Insider Buying and Selling at Casey’s General Stores

In other news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $380.24, for a total value of $1,140,720.00. Following the completion of the sale, the insider now owns 9,044 shares of the company’s stock, valued at $3,438,890.56. This trade represents a 24.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Mike Spanos acquired 267 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were purchased at an average price of $376.18 per share, with a total value of $100,440.06. Following the completion of the acquisition, the director now owns 2,594 shares of the company’s stock, valued at $975,810.92. This represents a 11.47 % increase in their position. The disclosure for this purchase can be found here. 0.56% of the stock is currently owned by corporate insiders.

About Casey’s General Stores

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.