Focus Partners Advisor Solutions LLC Buys 1,874 Shares of Casey's General Stores, Inc. $CASY

Key Points

• Focus Partners Advisor Solutions LLC increased its stake in Casey's General Stores, Inc. by 56.2%, holding 5,209 shares worth approximately $2.26 million.
• Insider Chad Michael Frazell sold 4,808 shares at an average price of $503.97, marking a 29.52% decrease in his holdings during the recent transaction.
• Equity analysts have raised price targets for Casey's General Stores, with KeyCorp setting a new target at $575, indicating strong market confidence in the company's future performance.

Focus Partners Advisor Solutions LLC increased its position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 56.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,209 shares of the company's stock after purchasing an additional 1,874 shares during the quarter. Focus Partners Advisor Solutions LLC's holdings in Casey's General Stores were worth $2,261,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CASY. Versant Capital Management Inc purchased a new position in Casey's General Stores during the first quarter worth about $25,000. Global Financial Private Client LLC boosted its holdings in Casey's General Stores by 325.0% during the first quarter. Global Financial Private Client LLC now owns 68 shares of the company's stock worth $30,000 after purchasing an additional 52 shares during the last quarter. Summit Securities Group LLC purchased a new position in Casey's General Stores during the first quarter worth about $32,000. Iron Horse Wealth Management LLC boosted its holdings in Casey's General Stores by 40.0% during the first quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company's stock worth $40,000 after purchasing an additional 26 shares during the last quarter. Finally, WPG Advisers LLC purchased a new position in Casey's General Stores during the first quarter worth about $47,000. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Casey's General Stores

In other Casey's General Stores news, CEO Darren M. Rebelez sold 20,000 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $507.83, for a total value of $10,156,600.00. Following the sale, the chief executive officer directly owned 89,840 shares in the company, valued at $45,623,447.20. This represents a 18.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mike Spanos bought 200 shares of the stock in a transaction on Monday, June 30th. The stock was purchased at an average price of $503.18 per share, for a total transaction of $100,636.00. Following the completion of the purchase, the director directly owned 3,560 shares in the company, valued at approximately $1,791,320.80. This represents a 5.95% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 43,646 shares of company stock worth $22,136,614 in the last ninety days. Insiders own 0.54% of the company's stock.

Casey's General Stores Stock Performance

Shares of CASY stock traded up $7.46 during trading on Friday, reaching $505.64. 279,698 shares of the company's stock traded hands, compared to its average volume of 212,510. The company has a market capitalization of $18.80 billion, a P/E 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. The firm's 50-day moving average is $513.38 and its 200 day moving average is $468.06. Casey's General Stores, Inc. has a 1 year low of $362.42 and a 1 year high of $531.24.

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CASY shares. 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 report on Wednesday, July 9th. KeyCorp boosted their target price on shares of Casey's General Stores from $550.00 to $575.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Wells Fargo & Company boosted their target price on shares of Casey's General Stores from $460.00 to $540.00 and gave the company an "overweight" rating in a research note on Wednesday, June 11th. Stephens reiterated an "overweight" rating and issued a $490.00 target price on shares of Casey's General Stores in a research note on Tuesday, June 10th. Finally, Wall Street Zen upgraded shares of Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Eight analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $467.33.

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.