Casey's General Stores, Inc. $CASY Shares Sold by Strive Financial Group LLC

Key Points

• Strive Financial Group LLC cut its Casey’s General Stores stake by 84.7% in the second quarter, selling 2,841 shares and retaining 513 shares valued at approximately $408,000. Institutional investors still own 85.63% of the company.
• Casey’s reported strong quarterly results, with earnings of $4.37 per share versus the $3.31 consensus estimate and revenue of $4.57 billion, up 14.5% year over year.
• Analyst sentiment remains positive, with a “Moderate Buy” consensus and an average price target of $928.53, although insiders sold 30,243 shares worth about $24.4 million during the latest quarter.

Strive Financial Group LLC lowered its stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 84.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 513 shares of the company's stock after selling 2,841 shares during the quarter. Strive Financial Group LLC's holdings in Casey's General Stores were worth $408,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Fiduciary Financial Advisors purchased a new stake in Casey's General Stores during the 2nd quarter worth approximately $26,000. Whipplewood Advisors LLC purchased a new position in shares of Casey's General Stores in the first quarter worth $33,000. Bell Investment Advisors Inc acquired a new stake in shares of Casey's General Stores during the second quarter worth $33,000. Caitlin John LLC acquired a new stake in shares of Casey's General Stores during the second quarter worth $35,000. Finally, Larson Financial Group LLC grew its holdings in shares of Casey's General Stores by 252.4% during the fourth quarter. Larson Financial Group LLC now owns 74 shares of the company's stock valued at $41,000 after buying an additional 53 shares during the last quarter. 85.63% of the stock is owned by hedge funds and other institutional investors.

Casey's General Stores Stock Performance

NASDAQ CASY opened at $756.09 on Friday. The firm has a market capitalization of $27.98 billion, a P/E ratio of 39.46, a PEG ratio of 2.60 and a beta of 0.59. The stock has a 50-day simple moving average of $827.10 and a two-hundred day simple moving average of $784.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 1.01. Casey's General Stores, Inc. has a fifty-two week low of $497.38 and a fifty-two week high of $927.85.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its earnings results on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, topping analysts' consensus estimates of $3.31 by $1.06. The firm had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.33 billion. Casey's General Stores had a return on equity of 18.73% and a net margin of 4.07%.The company's revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.63 earnings per share. On average, equities analysts forecast that Casey's General Stores, Inc. will post 21.11 earnings per share for the current year.

Insiders Place Their Bets

In other Casey's General Stores news, Director Allison M. Wing sold 530 shares of Casey's General Stores stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $837.58, for a total value of $443,917.40. Following the completion of the transaction, the director owned 3,042 shares of the company's stock, valued at approximately $2,547,918.36. The trade was a 14.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Katrina S. Lindsey sold 2,000 shares of the company's stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $800.00, for a total transaction of $1,600,000.00. Following the completion of the transaction, the insider owned 6,668 shares of the company's stock, valued at approximately $5,334,400. This trade represents a 23.07% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 30,243 shares of company stock worth $24,421,877. Corporate insiders own 0.67% of the company's stock.

Wall Street Analyst Weigh In

CASY has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their target price on Casey's General Stores from $975.00 to $833.00 and set a "neutral" rating for the company in a research note on Thursday. Wells Fargo & Company increased their price objective on Casey's General Stores from $910.00 to $960.00 and gave the company an "overweight" rating in a report on Thursday, June 11th. Royal Bank Of Canada restated a "sector perform" rating and issued a $913.00 price objective on shares of Casey's General Stores in a research note on Wednesday, July 29th. Morgan Stanley raised Casey's General Stores to a "buy" rating in a report on Wednesday, June 10th. Finally, William Blair began coverage on Casey's General Stores in a research report on Wednesday, May 20th. They issued an "outperform" rating on the stock. Fourteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $928.53.

Casey's General Stores Profile

Casey's General Stores, Inc NASDAQ: CASY is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company's stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.

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