PensionDanmark Pensionsforsikringsaktieselskab Buys New Shares in Casey’s General Stores, Inc. $CASY

PensionDanmark Pensionsforsikringsaktieselskab acquired a new stake in Casey’s General Stores, Inc. (NASDAQ:CASY) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 800 shares of the company’s stock, valued at approximately $636,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Casey’s General Stores by 179,938.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,659,164 shares of the company’s stock valued at $1,469,747,000 after purchasing an additional 2,657,687 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Casey’s General Stores by 40.9% during the 4th quarter. Franklin Resources Inc. now owns 1,068,682 shares of the company’s stock valued at $590,671,000 after purchasing an additional 310,470 shares during the last quarter. Geode Capital Management LLC increased 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 during the last quarter. Invesco Ltd. grew its holdings in Casey’s General Stores by 12.6% during the 4th quarter. Invesco Ltd. now owns 572,152 shares of the company’s stock valued at $316,234,000 after purchasing an additional 64,154 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Casey’s General Stores during the fourth quarter valued at approximately $265,163,000. Institutional investors own 85.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CASY. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $913.00 target price on shares of Casey’s General Stores in a research note on Wednesday, July 29th. Wall Street Zen upgraded Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Capital One Financial began coverage on Casey’s General Stores in a research report on Monday, June 22nd. They issued an “equal weight” rating and a $896.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $1,000.00 target price on shares of Casey’s General Stores in a research note on Monday, June 15th. Finally, KeyCorp lifted their target price on Casey’s General Stores from $950.00 to $970.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. Fourteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $944.20.

Insider Activity

In related news, insider Katrina S. Lindsey sold 2,000 shares of the company’s stock in a transaction on 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 transaction, the insider directly owned 6,668 shares of the company’s stock, valued at $5,334,400. This represents a 23.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Allison M. Wing sold 530 shares of the firm’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $837.58, for a total value of $443,917.40. Following the completion of the transaction, the director owned 3,042 shares of the company’s stock, valued at $2,547,918.36. This trade represents a 14.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 30,243 shares of company stock valued at $24,421,877. 0.67% of the stock is owned by corporate insiders.

Casey’s General Stores Price Performance

Shares of CASY stock opened at $854.46 on Tuesday. Casey’s General Stores, Inc. has a fifty-two week low of $490.00 and a fifty-two week high of $927.85. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 1.01. The firm has a market capitalization of $31.62 billion, a price-to-earnings ratio of 44.60, a PEG ratio of 2.50 and a beta of 0.61. The stock’s 50-day simple moving average is $831.22 and its 200-day simple moving average is $762.62.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 4.07% and a return on equity of 18.73%. Casey’s General Stores’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period last year, the business earned $2.63 EPS. As a group, equities analysts forecast that Casey’s General Stores, Inc. will post 21.14 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Saturday, August 1st will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.3%. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, July 31st. Casey’s General Stores’s dividend payout ratio is presently 13.57%.

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.