Skye Global Management LP Sells 10,000 Shares of Casey's General Stores, Inc. (NASDAQ:CASY)

Skye Global Management LP cut its stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 4.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 218,500 shares of the company's stock after selling 10,000 shares during the quarter. Casey's General Stores makes up approximately 2.0% of Skye Global Management LP's portfolio, making the stock its 11th biggest position. Skye Global Management LP owned 0.59% of Casey's General Stores worth $82,093,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. FMR LLC lifted its stake in shares of Casey's General Stores by 3.8% in the 3rd quarter. FMR LLC now owns 1,046,830 shares of the company's stock valued at $393,305,000 after purchasing an additional 38,226 shares during the period. Dimensional Fund Advisors LP increased its position in Casey's General Stores by 3.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 468,650 shares of the company's stock valued at $178,822,000 after buying an additional 14,750 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Casey's General Stores by 20.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 458,044 shares of the company's stock valued at $174,771,000 after buying an additional 77,515 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Casey's General Stores by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 273,332 shares of the company's stock valued at $102,694,000 after buying an additional 702 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in Casey's General Stores in the 3rd quarter valued at about $959,880,000. 85.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Royal Bank of Canada boosted their target price on Casey's General Stores from $393.00 to $403.00 and gave the company a "sector perform" rating in a research report on Thursday, September 5th. Wells Fargo & Company boosted their target price on Casey's General Stores from $415.00 to $425.00 and gave the company an "overweight" rating in a research report on Friday, September 6th. Gordon Haskett began coverage on Casey's General Stores in a report on Monday, November 4th. They set a "hold" rating and a $400.00 price objective for the company. StockNews.com lowered Casey's General Stores from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 3rd. Finally, Melius Research began coverage on Casey's General Stores in a report on Monday, September 23rd. They set a "buy" rating and a $435.00 price objective for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $408.25.

Insider Activity at Casey's General Stores

In other Casey's General Stores news, CEO Darren M. Rebelez sold 13,500 shares of the stock in a transaction on Friday, September 6th. The stock was 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 owns 73,838 shares in the company, valued at $27,655,284.52. This represents a 15.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Thomas P. Brennan, Jr. sold 3,000 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $380.24, for a total value of $1,140,720.00. Following the sale, the insider now owns 9,044 shares in the company, valued at approximately $3,438,890.56. This represents a 24.91 % decrease in their position. The disclosure for this sale can be found here. 0.56% of the stock is owned by company insiders.

Casey's General Stores Stock Performance

Shares of NASDAQ CASY traded down $0.09 during midday trading on Friday, reaching $420.89. The company's stock had a trading volume of 82,505 shares, compared to its average volume of 265,669. Casey's General Stores, Inc. has a 12-month low of $266.56 and a 12-month high of $435.60. The firm has a 50 day moving average price of $394.36 and a 200-day moving average price of $375.06. The stock has a market capitalization of $15.62 billion, a P/E ratio of 30.62 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.84 and a quick ratio of 0.44.

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

Casey's General Stores Profile

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.