Skye Global Management LP Has $82.09 Million Holdings in Casey’s General Stores, Inc. (NASDAQ:CASY)

Skye Global Management LP decreased its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 4.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 218,500 shares of the company’s stock after selling 10,000 shares during the quarter. Casey’s General Stores comprises approximately 2.0% of Skye Global Management LP’s investment portfolio, making the stock its 11th biggest position. Skye Global Management LP’s holdings in Casey’s General Stores were worth $82,093,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new stake in shares of Casey’s General Stores during the third quarter worth $959,880,000. Millennium Management LLC increased its position in Casey’s General Stores by 3,846.1% during the second quarter. Millennium Management LLC now owns 172,320 shares of the company’s stock worth $65,750,000 after acquiring an additional 176,920 shares during the period. Bridges Investment Management Inc. raised its stake in Casey’s General Stores by 110.0% in the 2nd quarter. Bridges Investment Management Inc. now owns 177,190 shares of the company’s stock worth $67,609,000 after purchasing an additional 92,813 shares in the last quarter. American Century Companies Inc. boosted its holdings in Casey’s General Stores by 189.1% in the 2nd quarter. American Century Companies Inc. now owns 132,375 shares of the company’s stock valued at $50,509,000 after purchasing an additional 86,582 shares during the period. Finally, EULAV Asset Management grew its position in shares of Casey’s General Stores by 196.3% during the 3rd quarter. EULAV Asset Management now owns 128,000 shares of the company’s stock worth $48,091,000 after purchasing an additional 84,800 shares in the last quarter. Institutional investors own 85.63% of the company’s stock.

Insider Transactions at Casey’s General Stores

In related news, 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 completion of the sale, the insider now directly owns 9,044 shares in the company, valued at $3,438,890.56. This represents a 24.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mike Spanos bought 267 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were bought at an average cost of $376.18 per share, with a total value of $100,440.06. Following the completion of the transaction, the director now owns 2,594 shares in the company, valued at $975,810.92. The trade was a 11.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CASY. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Casey’s General Stores from $451.00 to $454.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Evercore ISI upped their target price on Casey’s General Stores from $435.00 to $440.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Royal Bank of Canada increased their target price on Casey’s General Stores from $393.00 to $403.00 and gave the stock a “sector perform” rating in a report on Thursday, September 5th. Melius Research started coverage on Casey’s General Stores in a research note on Monday, September 23rd. They issued a “buy” rating and a $435.00 price target for the company. Finally, JPMorgan Chase & Co. cut shares of Casey’s General Stores from a “neutral” rating to an “underweight” rating and upped their price objective for the stock from $300.00 to $337.00 in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Casey’s General Stores has a consensus rating of “Moderate Buy” and a consensus price target of $408.25.

Casey’s General Stores Stock Performance

Shares of Casey’s General Stores stock opened at $420.98 on Friday. The company’s 50 day moving average price is $393.24 and its two-hundred day moving average price is $374.74. The firm has a market capitalization of $15.63 billion, a P/E ratio of 30.64 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, Inc. has a fifty-two week low of $266.56 and a fifty-two week high of $435.60.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Wednesday, September 4th. The company reported $4.83 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $4.15 billion. During the same quarter in the previous year, the company posted $4.52 EPS. Casey’s General Stores’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, equities analysts forecast that Casey’s General Stores, Inc. will post 14.22 earnings per share for the current fiscal year.

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.