IFM Investors Pty Ltd Invests $5.57 Million in Casey’s General Stores, Inc. $CASY

IFM Investors Pty Ltd purchased a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 7,654 shares of the company’s stock, valued at approximately $5,571,000.

Other institutional investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC grew its position in shares of Casey’s General Stores by 6.4% during the 1st quarter. NewEdge Advisors LLC now owns 1,871 shares of the company’s stock worth $812,000 after purchasing an additional 113 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Casey’s General Stores by 129.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 186 shares of the company’s stock worth $81,000 after acquiring an additional 105 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Casey’s General Stores by 431.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company’s stock worth $111,000 after acquiring an additional 177 shares in the last quarter. Amundi bought a new position in Casey’s General Stores in the second quarter valued at approximately $338,000. Finally, Jump Financial LLC increased its stake in Casey’s General Stores by 42.6% in the second quarter. Jump Financial LLC now owns 968 shares of the company’s stock valued at $494,000 after acquiring an additional 289 shares during the last quarter. 85.63% of the stock is currently owned by institutional investors.

Casey’s General Stores Price Performance

Shares of NASDAQ:CASY opened at $797.42 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 1.01. Casey’s General Stores, Inc. has a 52 week low of $490.00 and a 52 week high of $927.85. The firm has a market cap of $29.51 billion, a PE ratio of 41.62, a price-to-earnings-growth ratio of 2.40 and a beta of 0.62. The firm’s fifty day moving average is $820.92 and its 200-day moving average is $712.84.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly 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 company had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.33 billion. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The business’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.63 earnings per share. Sell-side analysts predict that Casey’s General Stores, Inc. will post 21.05 earnings per share for the current year.

Casey’s General Stores Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Saturday, August 1st will be issued a $0.65 dividend. The ex-dividend date is Friday, July 31st. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.57. This represents a $2.60 annualized dividend and a yield of 0.3%. Casey’s General Stores’s dividend payout ratio (DPR) is presently 11.90%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CASY shares. Weiss Ratings restated a “buy (b)” rating on shares of Casey’s General Stores in a research note on Wednesday, June 24th. Wells Fargo & Company increased 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. Jefferies Financial Group raised their target price on shares of Casey’s General Stores from $700.00 to $780.00 and gave the company a “buy” rating in a research report on Tuesday, March 10th. The Goldman Sachs Group boosted their target price on shares of Casey’s General Stores from $695.00 to $795.00 and gave the stock a “neutral” rating in a research note on Thursday, June 25th. Finally, Zacks Research downgraded shares of Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Thirteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $939.29.

Insider Activity at Casey’s General Stores

In other news, insider Katrina S. Lindsey sold 2,000 shares of Casey’s General Stores stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $800.00, for a total value of $1,600,000.00. Following the completion of the transaction, the insider directly owned 6,668 shares of the company’s stock, valued at approximately $5,334,400. This trade represents a 23.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Chad Michael Frazell sold 3,013 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $787.49, for a total transaction of $2,372,707.37. Following the sale, the insider directly owned 9,823 shares of the company’s stock, valued at approximately $7,735,514.27. This trade represents a 23.47% decrease in their position. The SEC filing for this sale provides additional information. 0.54% of the stock is owned by company insiders.

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.