Robbins Farley Sells 1,371 Shares of Casey's General Stores, Inc. $CASY

Key Points

• Robbins Farley reduced its Casey’s General Stores stake by 16.7% in the second quarter, selling 1,371 shares and retaining 6,855 shares worth approximately $5.45 million.
• Analysts remain broadly positive, with 14 Buy ratings and six Holds, producing a “Moderate Buy” consensus and an average price target of $942.87.
• Casey’s reported a strong quarter, delivering $4.37 in EPS versus the $3.31 estimate and 14.5% year-over-year revenue growth; however, company insiders sold more than $24.4 million of stock over the past quarter.

Robbins Farley decreased its holdings in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 16.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,855 shares of the company's stock after selling 1,371 shares during the quarter. Casey's General Stores comprises approximately 2.1% of Robbins Farley's portfolio, making the stock its 20th biggest position. Robbins Farley's holdings in Casey's General Stores were worth $5,448,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Casey's General Stores in the 2nd quarter worth $2,759,895,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Casey's General Stores by 179,938.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,659,164 shares of the company's stock valued at $1,469,747,000 after purchasing an additional 2,657,687 shares in the last quarter. Norges Bank bought a new stake in shares of Casey's General Stores during the 4th quarter valued at about $265,163,000. Bank of America Corp DE purchased a new position in shares of Casey's General Stores during the second quarter valued at about $281,872,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Casey's General Stores during the second quarter valued at about $281,011,000. Institutional investors own 85.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Evercore restated an "outperform" rating and issued a $990.00 price objective on shares of Casey's General Stores in a report on Friday, June 12th. BMO Capital Markets upgraded Casey's General Stores from a "market perform" rating to an "outperform" rating and set a $950.00 target price on the stock in a report on Monday, June 29th. BNP Paribas Exane decreased their target price on Casey's General Stores from $1,032.00 to $995.00 and set an "outperform" rating for the company in a research report on Thursday, June 25th. The Goldman Sachs Group raised their target price on Casey's General Stores from $695.00 to $795.00 and gave the company a "neutral" rating in a research note on Thursday, June 25th. Finally, Weiss Ratings lowered Casey's General Stores from a "buy (b+)" rating to a "buy (b)" rating in a research report on Tuesday, July 21st. Fourteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $942.87.

Casey's General Stores Trading Down 1.7%

NASDAQ:CASY opened at $753.59 on Thursday. The firm has a market capitalization of $27.89 billion, a P/E ratio of 39.33, a PEG ratio of 2.62 and a beta of 0.59. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60. Casey's General Stores, Inc. has a one year low of $493.70 and a one year high of $927.85. The company's 50-day simple moving average is $828.07 and its 200 day simple moving average is $784.33.

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

Insider Activity at Casey's General Stores

In other Casey's General Stores news, CEO Darren M. Rebelez sold 19,000 shares of Casey's General Stores stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $801.46, for a total transaction of $15,227,740.00. Following the completion of the transaction, the chief executive officer owned 89,174 shares in the company, valued at approximately $71,469,394.04. The trade was a 17.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Allison M. Wing sold 530 shares of the business's stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $837.58, for a total value of $443,917.40. Following the completion of the sale, the director directly owned 3,042 shares in the company, valued at $2,547,918.36. This trade represents a 14.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 30,243 shares of company stock worth $24,421,877 over the last quarter. 0.67% of the stock is currently owned by company insiders.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source