PEAK6 LLC Buys New Holdings in Casey's General Stores, Inc. $CASY

Key Points

• PEAK6 LLC acquired a new stake in Casey's General Stores, purchasing 667 shares valued at approximately $289,000 during the first quarter of the year.
• Analysts have raised their price targets for Casey's General Stores, with Wells Fargo increasing its target from $460 to $540 and KeyCorp raising it from $550 to $575.
• Casey's General Stores reported an earnings per share (EPS) of $2.63 for the last quarter, exceeding estimates and representing a 10.9% year-over-year revenue increase.

PEAK6 LLC bought a new position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 667 shares of the company's stock, valued at approximately $289,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Wellington Management Group LLP raised its holdings in shares of Casey's General Stores by 190.6% during the first 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 period. JPMorgan Chase & Co. raised its stake in Casey's General Stores by 42.0% during the 1st quarter. JPMorgan Chase & Co. now owns 1,036,426 shares of the company's stock valued at $449,851,000 after purchasing an additional 306,628 shares during the period. Raymond James Financial Inc. lifted its holdings in shares of Casey's General Stores by 8.9% in the first quarter. Raymond James Financial Inc. now owns 649,815 shares of the company's stock valued at $282,045,000 after purchasing an additional 52,939 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Casey's General Stores by 54,448.8% in the first quarter. GAMMA Investing LLC now owns 543,852 shares of the company's stock worth $236,054,000 after buying an additional 542,855 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Casey's General Stores by 51.5% during the first quarter. Bank of New York Mellon Corp now owns 515,603 shares of the company's stock valued at $223,792,000 after buying an additional 175,372 shares in the last quarter. 85.63% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Darren M. Rebelez sold 20,000 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $507.83, for a total value of $10,156,600.00. Following the completion of the sale, the chief executive officer directly owned 89,840 shares of the company's stock, valued at approximately $45,623,447.20. This represents a 18.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Katrina S. Lindsey sold 2,000 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $506.07, for a total value of $1,012,140.00. Following the completion of the sale, the insider directly owned 4,636 shares of the company's stock, valued at $2,346,140.52. This represents a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,646 shares of company stock valued at $22,136,614. Insiders own 0.54% of the company's stock.

Casey's General Stores Stock Up 1.5%

Shares of NASDAQ CASY traded up $7.46 during trading hours on Friday, hitting $505.64. The stock had a trading volume of 279,698 shares, 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 firm's 50-day moving average price is $513.38 and its two-hundred day moving average price is $467.77. Casey's General Stores, Inc. has a 52 week low of $362.42 and a 52 week high of $531.24. 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 (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 the consensus estimate of $1.94 by $0.69. The business had revenue of $3.99 billion during the quarter, compared to analysts' expectations of $3.95 billion. Casey's General Stores had a return on equity of 16.28% and a net margin of 3.43%.The firm's quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.34 EPS. Analysts anticipate that Casey's General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on CASY shares. Wells Fargo & Company raised their price objective on Casey's General Stores from $460.00 to $540.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 11th. BMO Capital Markets raised their price target on shares of Casey's General Stores from $450.00 to $515.00 and gave the stock a "market perform" rating in a report on Wednesday, June 11th. Royal Bank Of Canada boosted their price objective on shares of Casey's General Stores from $468.00 to $542.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 9th. KeyCorp upped their price objective 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. Finally, Stephens restated an "overweight" rating and set a $490.00 price target on shares of Casey's General Stores in a report on Tuesday, June 10th. Eight research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $467.33.

Casey's General Stores 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.