Meiji Yasuda Life Insurance Co Takes $540,000 Position in Casey’s General Stores, Inc. $CASY

Meiji Yasuda Life Insurance Co purchased a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 680 shares of the company’s stock, valued at approximately $540,000.

A number of other hedge funds have also modified their holdings of CASY. Geode Capital Management LLC raised its position in Casey’s General Stores by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 760,438 shares of the company’s stock valued at $420,416,000 after acquiring an additional 52,250 shares in the last quarter. Daiichi Life Insurance Co. Ltd. bought a new stake in Casey’s General Stores in the second quarter worth approximately $1,222,000. Burns J W & Co. Inc. NY grew its position in Casey’s General Stores by 103.5% in the first quarter. Burns J W & Co. Inc. NY now owns 2,448 shares of the company’s stock worth $1,782,000 after acquiring an additional 1,245 shares in the last quarter. North Dakota State Investment Board acquired a new position in shares of Casey’s General Stores during the 4th quarter worth $720,000. Finally, Teachers Retirement System of The State of Kentucky increased its stake in shares of Casey’s General Stores by 52.0% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 17,079 shares of the company’s stock worth $12,431,000 after purchasing an additional 5,846 shares during the last quarter. 85.63% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Casey’s General Stores

In related news, insider Katrina S. Lindsey sold 2,000 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $800.00, for a total transaction of $1,600,000.00. Following the completion of the transaction, the insider owned 6,668 shares of the company’s stock, valued at approximately $5,334,400. The trade was a 23.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Allison M. Wing sold 530 shares of the business’s 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 transaction, the director directly owned 3,042 shares of the company’s stock, valued at $2,547,918.36. This represents a 14.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 30,243 shares of company stock valued at $24,421,877. 0.67% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CASY shares. Wells Fargo & Company lifted their price objective on shares of Casey’s General Stores from $910.00 to $960.00 and gave the company an “overweight” rating in a research note on Thursday, June 11th. Evercore reissued an “outperform” rating and set a $990.00 target price on shares of Casey’s General Stores in a research report on Friday, June 12th. Capital One Financial began coverage on Casey’s General Stores in a report on Monday, June 22nd. They set an “equal weight” rating and a $896.00 target price on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $1,000.00 price target on shares of Casey’s General Stores in a research report on Monday, June 15th. Finally, Weiss Ratings downgraded Casey’s General Stores from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, July 21st. Fourteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Casey’s General Stores has a consensus rating of “Moderate Buy” and an average price target of $942.87.

Casey’s General Stores Price Performance

Shares of Casey’s General Stores stock opened at $755.47 on Monday. The company has a current ratio of 1.01, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. The firm has a fifty day simple moving average of $831.92 and a 200-day simple moving average of $782.18. The stock has a market capitalization of $27.96 billion, a price-to-earnings ratio of 39.43, a PEG ratio of 2.59 and a beta of 0.61. Casey’s General Stores, Inc. has a 1-year low of $490.00 and a 1-year high of $927.85.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.31 by $1.06. The business had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.33 billion. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. Casey’s General Stores’s revenue was up 14.5% compared to the same quarter last year. During the same period last year, the business posted $2.63 EPS. On average, sell-side analysts expect that Casey’s General Stores, Inc. will post 21.11 earnings per share for the current year.

Casey’s General Stores Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Saturday, August 1st were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.3%. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.57. The ex-dividend date was Friday, July 31st. Casey’s General Stores’s dividend payout ratio is currently 13.57%.

Casey’s General Stores 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.