NEOS Investment Management LLC Makes New Investment in Casey’s General Stores, Inc. $CASY

NEOS Investment Management LLC acquired a new position in Casey’s General Stores, Inc. (NASDAQ:CASY) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 5,790 shares of the company’s stock, valued at approximately $4,602,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fiduciary Financial Advisors purchased a new stake in shares of Casey’s General Stores during the 2nd quarter worth about $26,000. Bell Investment Advisors Inc purchased a new position in Casey’s General Stores in the second quarter valued at approximately $33,000. Caitlin John LLC acquired a new position in Casey’s General Stores during the second quarter valued at approximately $35,000. Whipplewood Advisors LLC acquired a new position in Casey’s General Stores during the first quarter valued at approximately $33,000. Finally, RMG Wealth Management LLC grew its stake in Casey’s General Stores by 250.0% during the first quarter. RMG Wealth Management LLC now owns 56 shares of the company’s stock worth $41,000 after buying an additional 40 shares during the period. 85.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CASY shares. Morgan Stanley raised shares of Casey’s General Stores to a “buy” rating in a research report on Wednesday, June 10th. BMO Capital Markets upgraded shares of 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 price target on shares of 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. Weiss Ratings downgraded Casey’s General Stores from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, July 21st. Finally, UBS Group cut their price objective on Casey’s General Stores from $945.00 to $925.00 and set a “neutral” rating on the stock in a research report on Thursday, August 27th. Fourteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $928.53.

Casey’s General Stores Stock Performance

CASY opened at $756.09 on Monday. The firm’s 50 day moving average is $827.10 and its 200-day moving average is $785.62. Casey’s General Stores, Inc. has a 52-week low of $497.38 and a 52-week high of $927.85. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $27.98 billion, a P/E ratio of 39.46, a P/E/G ratio of 2.58 and a beta of 0.59.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, beating the consensus estimate of $3.31 by $1.06. The business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.33 billion. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.63 earnings per share. Analysts expect that Casey’s General Stores, Inc. will post 21.13 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO P Jr sold 5,700 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $838.16, for a total transaction of $4,777,512.00. Following the completion of the sale, the chief financial officer directly owned 29,677 shares in the company, valued at $24,874,074.32. This trade represents a 16.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Allison Wing sold 530 shares of Casey’s General Stores stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $837.58, for a total value of $443,917.40. Following the sale, the director directly owned 3,042 shares in the company, valued at approximately $2,547,918.36. The trade was a 14.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 30,243 shares of company stock worth $24,421,877 over the last quarter. Company insiders own 0.67% of the company’s stock.

Casey’s General Stores Company 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.