150,442 Shares in Casey's General Stores, Inc. $CASY Acquired by Alyeska Investment Group L.P.

Key Points

• Alyeska Investment Group L.P. acquired 150,442 shares of Casey's General Stores, Inc. for approximately $65.3 million, representing a 0.41% stake in the company.
• Casey's General Stores reported $2.63 EPS for the latest quarter, exceeding analysts' expectations and demonstrating a 10.9% year-over-year revenue growth.
• Equities analysts have raised price targets for Casey's General Stores, with the average target now at $467.33 and eight analysts recommending a "Buy" rating for the stock.

Alyeska Investment Group L.P. bought a new position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 150,442 shares of the company's stock, valued at approximately $65,298,000. Alyeska Investment Group L.P. owned 0.41% of Casey's General Stores at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Promethium Advisors LLC boosted its stake in Casey's General Stores by 17.4% in the 1st quarter. Promethium Advisors LLC now owns 3,870 shares of the company's stock worth $1,680,000 after purchasing an additional 574 shares during the period. Focus Partners Advisor Solutions LLC lifted its position in Casey's General Stores by 56.2% during the 1st quarter. Focus Partners Advisor Solutions LLC now owns 5,209 shares of the company's stock worth $2,261,000 after buying an additional 1,874 shares in the last quarter. Vident Advisory LLC lifted its position in Casey's General Stores by 39.2% during the 1st quarter. Vident Advisory LLC now owns 1,439 shares of the company's stock worth $625,000 after buying an additional 405 shares in the last quarter. WPG Advisers LLC bought a new stake in Casey's General Stores during the 1st quarter worth about $47,000. Finally, PEAK6 LLC bought a new stake in Casey's General Stores during the 1st quarter worth about $289,000. 85.63% of the stock is owned by institutional investors and hedge funds.

Casey's General Stores Stock Performance

Shares of NASDAQ:CASY traded up $7.46 on Friday, reaching $505.64. 279,698 shares of the company's stock were exchanged, compared to its average volume of 212,510. The company has a fifty day moving average of $513.38 and a 200-day moving average of $468.06. Casey's General Stores, Inc. has a twelve month low of $362.42 and a twelve month high of $531.24. The company has a market capitalization of $18.80 billion, a price-to-earnings ratio of 34.54 and a beta of 0.66. The company has a current ratio of 0.92, a quick ratio of 0.48 and a debt-to-equity ratio of 0.69.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its earnings results on Monday, June 9th. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.94 by $0.69. Casey's General Stores had a net margin of 3.43% and a return on equity of 16.28%. The firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.95 billion. During the same quarter in the prior year, the business posted $2.34 EPS. The business's revenue was up 10.9% compared to the same quarter last year. On average, research analysts predict that Casey's General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on CASY. BMO Capital Markets boosted their price target on shares of Casey's General Stores from $450.00 to $515.00 and gave the stock a "market perform" rating in a research report on Wednesday, June 11th. KeyCorp boosted their price target on shares of Casey's General Stores from $550.00 to $575.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. The Goldman Sachs Group boosted their price target on shares of Casey's General Stores from $385.00 to $450.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 11th. Royal Bank Of Canada boosted their price target on shares of Casey's General Stores from $468.00 to $542.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 9th. Finally, Stephens reaffirmed an "overweight" rating and issued a $490.00 target price on shares of Casey's General Stores in a report on Tuesday, June 10th. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Casey's General Stores has an average rating of "Moderate Buy" and a consensus price target of $467.33.

Insider Activity

In other Casey's General Stores news, insider Thomas P. Brennan, Jr. sold 6,600 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $506.03, for a total transaction of $3,339,798.00. Following the transaction, the insider owned 2,100 shares in the company, valued at $1,062,663. This represents a 75.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Katrina S. Lindsey sold 2,000 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $506.07, for a total transaction of $1,012,140.00. Following the transaction, the insider owned 4,636 shares in the company, valued at approximately $2,346,140.52. The trade was a 30.14% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,646 shares of company stock worth $22,136,614. Insiders own 0.54% of the company's stock.

Casey's General Stores Company 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.