Marks Group Wealth Management Inc Sells 2,505 Shares of Casey's General Stores, Inc. $CASY

Key Points

• Marks Group Wealth Management reduced its stake in Casey's General Stores by 17.2% in the fourth quarter, selling 2,505 shares and leaving it with 12,031 shares valued at about $6.65 million.
• Institutional ownership remains heavy, with hedge funds and other institutions holding about 85.63% of Casey's shares; several smaller funds also added or initiated positions.
• Analysts remain broadly positive on CASY, with a Moderate Buy consensus and an average price target of $761.36, while the company recently beat quarterly EPS estimates even as revenue came in below expectations.

Marks Group Wealth Management Inc decreased its stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 17.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,031 shares of the company's stock after selling 2,505 shares during the quarter. Marks Group Wealth Management Inc's holdings in Casey's General Stores were worth $6,650,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Foster Dykema Cabot & Partners LLC purchased a new stake in Casey's General Stores in the third quarter worth about $25,000. True Wealth Design LLC increased its position in Casey's General Stores by 350.0% in the fourth quarter. True Wealth Design LLC now owns 54 shares of the company's stock worth $30,000 after buying an additional 42 shares in the last quarter. Central Pacific Bank Trust Division increased its position in Casey's General Stores by 52.8% in the fourth quarter. Central Pacific Bank Trust Division now owns 55 shares of the company's stock worth $30,000 after buying an additional 19 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new stake in Casey's General Stores in the third quarter worth about $33,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new stake in Casey's General Stores in the third quarter worth about $35,000. Hedge funds and other institutional investors own 85.63% of the company's stock.

Analysts Set New Price Targets

CASY has been the subject of a number of analyst reports. Jefferies Financial Group upped their price target on Casey's General Stores from $700.00 to $780.00 and gave the stock a "buy" rating in a research report on Tuesday, March 10th. Evercore restated an "outperform" rating and issued a $915.00 price target on shares of Casey's General Stores in a research report on Monday, May 18th. Stephens restated an "overweight" rating and issued a $680.00 price target on shares of Casey's General Stores in a research report on Tuesday, March 10th. UBS Group upped their price target on Casey's General Stores from $706.00 to $805.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 3rd. Finally, Wall Street Zen cut Casey's General Stores from a "buy" rating to a "hold" rating in a research report on Saturday, March 21st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $761.36.

Insider Activity at Casey's General Stores

In other Casey's General Stores news, Director Mike Spanos bought 300 shares of the firm's stock in a transaction that occurred on Friday, March 13th. The shares were bought at an average price of $665.43 per share, with a total value of $199,629.00. Following the purchase, the director owned 4,499 shares of the company's stock, valued at $2,993,769.57. This trade represents a 7.14% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Katrina S. Lindsey sold 200 shares of Casey's General Stores stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $683.04, for a total value of $136,608.00. Following the sale, the insider directly owned 4,039 shares in the company, valued at $2,758,798.56. This trade represents a 4.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.54% of the stock is currently owned by company insiders.

Casey's General Stores Stock Down 1.3%

Shares of CASY opened at $751.63 on Tuesday. The business's 50 day moving average is $789.15 and its 200 day moving average is $677.80. The company has a market capitalization of $27.78 billion, a PE ratio of 43.15, a price-to-earnings-growth ratio of 2.12 and a beta of 0.61. Casey's General Stores, Inc. has a 12-month low of $433.63 and a 12-month high of $901.00. The company has a current ratio of 1.04, a quick ratio of 0.64 and a debt-to-equity ratio of 0.61.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its earnings results on Monday, March 9th. The company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.55. The company had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $4.08 billion. Casey's General Stores had a return on equity of 17.56% and a net margin of 3.83%.The firm's quarterly revenue was up .3% on a year-over-year basis. During the same quarter last year, the company earned $2.33 EPS. Research analysts expect that Casey's General Stores, Inc. will post 18.16 earnings per share for the current fiscal year.

Casey's General Stores Company 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.

Want to see what other hedge funds are holding CASY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Casey's General Stores, Inc. (NASDAQ:CASY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.