Casey's General Stores, Inc. $CASY Shares Sold by Axiom Investors LLC DE

Key Points

• Axiom Investors LLC DE reduced its stake in Casey's General Stores, Inc. by 44.0%, now holding 20,260 shares, valued at approximately $8.79 million.
• Several institutional investors significantly increased their holdings in Casey's, with Wellington Management boosting its stake by 190.6% and GAMMA Investing by an astounding 54,448.8%.
• Casey's reported earnings of $2.63 per share for the last quarter, exceeding analyst expectations by $0.69 and reflecting a revenue increase of 10.9% year-over-year.

Axiom Investors LLC DE trimmed its holdings in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 44.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,260 shares of the company's stock after selling 15,948 shares during the quarter. Axiom Investors LLC DE owned 0.05% of Casey's General Stores worth $8,794,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of CASY. Wellington Management Group LLP lifted its holdings in Casey's General Stores by 190.6% in the 1st quarter. Wellington Management Group LLP now owns 1,244,311 shares of the company's stock valued at $540,081,000 after acquiring an additional 816,110 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Casey's General Stores by 54,448.8% in the 1st quarter. GAMMA Investing LLC now owns 543,852 shares of the company's stock valued at $236,054,000 after purchasing an additional 542,855 shares during the period. JPMorgan Chase & Co. increased its holdings in Casey's General Stores by 42.0% in the first quarter. JPMorgan Chase & Co. now owns 1,036,426 shares of the company's stock worth $449,851,000 after buying an additional 306,628 shares during the last quarter. Third Point LLC acquired a new position in Casey's General Stores in the first quarter worth approximately $130,212,000. Finally, Nuveen LLC acquired a new position in Casey's General Stores in the first quarter worth approximately $76,467,000. 85.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on CASY. Royal Bank Of Canada increased their price target on Casey's General Stores from $468.00 to $542.00 and gave the company a "sector perform" rating in a report on Wednesday, July 9th. Stephens reaffirmed an "overweight" rating and issued a $490.00 target price on shares of Casey's General Stores in a research report on Tuesday, June 10th. Wells Fargo & Company increased their price objective on Casey's General Stores from $460.00 to $540.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 11th. KeyCorp increased their price objective on Casey's General Stores from $550.00 to $575.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Finally, The Goldman Sachs Group raised their target price on Casey's General Stores from $385.00 to $450.00 and gave the company a "neutral" rating in a research note on Wednesday, June 11th. Eight analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $467.33.

Casey's General Stores Trading Up 1.5%

NASDAQ CASY opened at $505.64 on Monday. The stock has a market capitalization of $18.80 billion, a price-to-earnings ratio of 34.54 and a beta of 0.66. The stock's 50 day moving average price is $513.38 and its two-hundred day moving average price is $468.39. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.48 and a current ratio of 0.92. Casey's General Stores, Inc. has a 52 week low of $362.42 and a 52 week high of $531.24.

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

Insiders Place Their Bets

In related news, CFO Stephen P. Bramlage, Jr. sold 760 shares of the company's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $507.56, for a total transaction of $385,745.60. Following the completion of the sale, the chief financial officer directly owned 25,994 shares in the company, valued at $13,193,514.64. This represents a 2.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Chad Michael Frazell sold 4,808 shares of the company's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $503.97, for a total value of $2,423,087.76. Following the completion of the transaction, the insider directly owned 11,480 shares of the company's stock, valued at approximately $5,785,575.60. The trade was a 29.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,646 shares of company stock worth $22,136,614 over the last three months. 0.54% of the stock is currently owned by corporate insiders.

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.

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