HighTower Advisors LLC Sells 2,166 Shares of Casey's General Stores, Inc. $CASY

Key Points

• HighTower Advisors cut its Casey’s stake by 15.6% in the second quarter, selling 2,166 shares and retaining 11,747 shares valued at about $9.3 million. Institutional investors and hedge funds still own 85.63% of the company.
• Casey’s fiscal Q1 2027 results exceeded expectations, with EPS of $7.37 and revenue of $5.68 billion, while management maintained its full-year outlook. However, same-store inside sales rose only 3.2%, contributing to a sharp share-price decline and prompting several analysts to reduce price targets.
• The stock carries a consensus “Moderate Buy” rating from analysts, with an average price target of $854.12, and Casey’s declared a quarterly dividend of $0.65 per share, equivalent to an annualized yield of approximately 0.4%.

HighTower Advisors LLC decreased its position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 15.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,747 shares of the company's stock after selling 2,166 shares during the period. HighTower Advisors LLC's holdings in Casey's General Stores were worth $9,337,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of CASY. Kathmere Capital Management LLC increased its position in shares of Casey's General Stores by 3.5% during the first quarter. Kathmere Capital Management LLC now owns 387 shares of the company's stock worth $282,000 after purchasing an additional 13 shares in the last quarter. Pinnacle Bancorp Inc. boosted its position in shares of Casey's General Stores by 4.8% in the 1st quarter. Pinnacle Bancorp Inc. now owns 303 shares of the company's stock worth $221,000 after purchasing an additional 14 shares in the last quarter. Lincoln Capital LLC grew its stake in Casey's General Stores by 4.0% during the 2nd quarter. Lincoln Capital LLC now owns 366 shares of the company's stock worth $291,000 after buying an additional 14 shares during the last quarter. Menard Financial Group LLC grew its stake in Casey's General Stores by 1.2% during the 4th quarter. Menard Financial Group LLC now owns 1,267 shares of the company's stock worth $700,000 after buying an additional 15 shares during the last quarter. Finally, Cibc World Market Inc. grew its stake in Casey's General Stores by 0.3% during the 4th quarter. Cibc World Market Inc. now owns 5,136 shares of the company's stock worth $2,839,000 after buying an additional 16 shares during the last quarter. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on CASY. JPMorgan Chase & Co. decreased their price target 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, September 3rd. Weiss Ratings lowered Casey's General Stores from a "buy (b+)" rating to a "buy (b)" rating in a research note on Tuesday, July 21st. Capital One Financial initiated coverage on shares of Casey's General Stores in a report on Monday, June 22nd. They set an "equal weight" rating and a $896.00 price objective on the stock. Raymond James Financial raised shares of Casey's General Stores from a "market perform" rating to an "outperform" rating and set a $750.00 price objective for the company in a research report on Thursday. Finally, Stephens set a $750.00 target price on shares of Casey's General Stores in a research note on Thursday. Fifteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $854.12.

Key Headlines Impacting Casey's General Stores

Here are the key news stories impacting Casey's General Stores this week:

• Positive Sentiment: Casey’s reported fiscal Q1 2027 earnings of $7.37 per share and revenue of $5.68 billion, exceeding analyst estimates of $6.78 per share and approximately $5.57 billion in revenue. Inside gross profit and fuel margins helped offset higher costs. CASY Q1 Earnings Beat Estimates on Inside and Fuel Gains
• Positive Sentiment: Management maintained its fiscal 2027 outlook. Prepared-food traffic, fuel margins and planned CEFCO store remodels continue to support the company’s growth strategy. CASY Q1 Earnings Call Keeps Outlook Intact
• Positive Sentiment: Several analysts remain constructive despite the post-earnings selloff. Stephens reaffirmed an overweight rating with a $975 price target, while Wells Fargo retained an overweight rating with a reduced $750 target. Casey’s Beats on Both Lines in Q1
• Neutral Sentiment: Casey’s declared a quarterly dividend of $0.65 per share, payable November 13 to shareholders of record November 1. The dividend provides modest income support, with an annualized yield of about 0.4%.
• Neutral Sentiment: Reported short interest was zero shares as of September 10, unchanged from the prior reported period; the accompanying percentage change was not meaningful. This suggests short covering is not a factor in the recent move.
• Negative Sentiment: Inside same-store sales increased 3.2%, below investor expectations. The weaker key sales metric overshadowed the earnings and revenue beats and raised concerns about slowing customer demand. Casey’s shares slide despite earnings beat
• Negative Sentiment: Analysts cut price targets following the results, including UBS, which lowered its target from $925 to $720 and adopted a neutral rating. The reductions indicate that valuation and growth expectations remain significant concerns despite the company’s solid execution. Analysts Cut Their Forecasts on Casey’s

Insider Buying and Selling

In other Casey's General Stores news, insider Chad Frazell sold 3,013 shares of Casey's General Stores stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $787.49, for a total transaction of $2,372,707.37. Following the completion of the sale, the insider directly owned 9,823 shares in the company, valued at approximately $7,735,514.27. The trade was a 23.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Darren M. Rebelez sold 19,000 shares of the company's stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $801.46, for a total transaction of $15,227,740.00. Following the completion of the sale, the chief executive officer directly owned 89,174 shares in the company, valued at $71,469,394.04. This trade represents a 17.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 30,243 shares of company stock worth $24,421,877 in the last quarter. 0.67% of the stock is currently owned by corporate insiders.

Casey's General Stores Stock Performance

Shares of CASY opened at $627.64 on Friday. The stock has a 50-day moving average of $818.89 and a two-hundred day moving average of $786.30. Casey's General Stores, Inc. has a one year low of $497.38 and a one year high of $927.85. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.60 and a current ratio of 1.02. The stock has a market cap of $23.20 billion, a P/E ratio of 30.23, a P/E/G ratio of 2.13 and a beta of 0.59.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings results on Tuesday, September 8th. The company reported $7.37 earnings per share for the quarter, beating the consensus estimate of $6.78 by $0.59. Casey's General Stores had a return on equity of 19.68% and a net margin of 4.14%.The business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.56 billion. During the same quarter in the previous year, the business earned $5.77 EPS. The company's quarterly revenue was up 24.3% compared to the same quarter last year. As a group, research analysts predict that Casey's General Stores, Inc. will post 21.26 EPS for the current year.

Casey's General Stores Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Sunday, November 1st will be given a $0.65 dividend. The ex-dividend date is Friday, October 30th. This represents a $2.60 dividend on an annualized basis and a yield of 0.4%. Casey's General Stores's dividend payout ratio is currently 13.57%.

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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