Strive Financial Group LLC Cuts Stock Position in Casey’s General Stores, Inc. $CASY

Strive Financial Group LLC trimmed its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 84.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Casey’s General Stores in the 2nd quarter worth $2,759,895,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Casey’s General Stores by 179,938.2% during the fourth 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 purchased a new position in Casey’s General Stores during the fourth quarter valued at $265,163,000. Bank of America Corp DE purchased a new position in Casey’s General Stores during the second quarter valued at $281,872,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Casey’s General Stores in the second quarter valued at about $281,011,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on CASY shares. Royal Bank Of Canada reissued a “sector perform” rating and set a $913.00 target price on shares of Casey’s General Stores in a research note on Wednesday, July 29th. Northcoast Research raised shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $950.00 price target on the stock in a research note on Monday, July 13th. Stephens set a $975.00 price objective on Casey’s General Stores and gave the stock an “overweight” rating in a report on Friday, June 12th. Evercore reiterated an “outperform” rating and set a $990.00 price objective on shares of Casey’s General Stores in a research note on Friday, June 12th. Finally, Morgan Stanley raised Casey’s General Stores to a “buy” rating in a report on Wednesday, June 10th. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Casey’s General Stores has a consensus rating of “Moderate Buy” and an average target price of $928.53.

Casey’s General Stores Price Performance

Casey’s General Stores stock opened at $756.09 on Friday. Casey’s General Stores, Inc. has a 52-week low of $497.38 and a 52-week high of $927.85. The firm has a market capitalization of $27.98 billion, a price-to-earnings ratio of 39.46, a PEG ratio of 2.60 and a beta of 0.59. The company has a fifty day simple moving average of $827.10 and a 200-day simple moving average of $784.78. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59.

Casey’s General Stores (NASDAQ:CASY) last issued its earnings results on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $1.06. The business had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.33 billion. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.63 earnings per share. On average, equities analysts anticipate 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, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $838.16, for a total value of $4,777,512.00. Following the transaction, the chief financial officer directly owned 29,677 shares of the company’s stock, valued at $24,874,074.32. This trade represents a 16.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Katrina S. Lindsey sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $800.00, for a total value of $1,600,000.00. Following the transaction, the insider owned 6,668 shares in the company, valued at approximately $5,334,400. This represents a 23.07% 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 in the last 90 days. 0.67% of the stock is owned by insiders.

About Casey’s General Stores

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.