Casey's General Stores, Inc. (NASDAQ:CASY) Holdings Reduced by Bridgewater Associates LP

Bridgewater Associates LP lowered its stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 67.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,121 shares of the company's stock after selling 33,995 shares during the quarter. Bridgewater Associates LP's holdings in Casey's General Stores were worth $6,057,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Park Place Capital Corp acquired a new stake in shares of Casey's General Stores during the 2nd quarter valued at approximately $31,000. Innealta Capital LLC purchased a new stake in Casey's General Stores in the 2nd quarter worth approximately $32,000. Advisors Asset Management Inc. purchased a new stake in Casey's General Stores in the 1st quarter worth approximately $32,000. Bank & Trust Co purchased a new stake in Casey's General Stores in the 2nd quarter worth approximately $40,000. Finally, Venturi Wealth Management LLC grew its stake in Casey's General Stores by 941.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 125 shares of the company's stock worth $47,000 after acquiring an additional 113 shares during the period. Hedge funds and other institutional investors own 85.63% of the company's stock.

Insider Activity

In related news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the business's stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $380.24, for a total transaction of $1,140,720.00. Following the completion of the sale, the insider now owns 9,044 shares of the company's stock, valued at $3,438,890.56. This represents a 24.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Darren M. Rebelez sold 13,500 shares of the business's stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $374.54, for a total transaction of $5,056,290.00. Following the sale, the chief executive officer now directly owns 73,838 shares of the company's stock, valued at approximately $27,655,284.52. This represents a 15.46 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.56% of the company's stock.

Casey's General Stores Stock Performance

Shares of CASY stock opened at $420.89 on Friday. Casey's General Stores, Inc. has a 12 month low of $266.56 and a 12 month high of $435.60. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.84 and a quick ratio of 0.44. The firm has a market capitalization of $15.62 billion, a P/E ratio of 30.63 and a beta of 0.79. The company's fifty day moving average price is $394.36 and its two-hundred day moving average price is $375.06.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.54 by $0.29. The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.15 billion. Casey's General Stores had a net margin of 3.40% and a return on equity of 17.07%. The company's revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.52 EPS. On average, research analysts anticipate that Casey's General Stores, Inc. will post 14.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on CASY shares. Gordon Haskett started coverage on shares of Casey's General Stores in a research note on Monday, November 4th. They set a "hold" rating and a $400.00 price objective for the company. Evercore ISI boosted their price objective on shares of Casey's General Stores from $435.00 to $440.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. Royal Bank of Canada lifted their target price on shares of Casey's General Stores from $393.00 to $403.00 and gave the company a "sector perform" rating in a report on Thursday, September 5th. Benchmark restated a "buy" rating and set a $410.00 target price on shares of Casey's General Stores in a report on Tuesday, September 10th. Finally, Melius Research initiated coverage on shares of Casey's General Stores in a report on Monday, September 23rd. They set a "buy" rating and a $435.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Casey's General Stores presently has a consensus rating of "Moderate Buy" and an average target price of $408.25.

About Casey's General Stores

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.