Mufg Securities Americas Inc. purchased a new position in Casey’s General Stores, Inc. (NASDAQ:CASY – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,113 shares of the company’s stock, valued at approximately $885,000.
Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Casey’s General Stores in the second quarter worth $2,759,895,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Casey’s General Stores by 179,938.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,659,164 shares of the company’s stock worth $1,469,747,000 after acquiring an additional 2,657,687 shares during the last quarter. Franklin Resources Inc. grew its stake in Casey’s General Stores by 40.9% during the fourth quarter. Franklin Resources Inc. now owns 1,068,682 shares of the company’s stock valued at $590,671,000 after acquiring an additional 310,470 shares in the last quarter. Geode Capital Management LLC grew its stake 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. Finally, Invesco Ltd. increased its holdings in Casey’s General Stores by 12.6% in the 4th quarter. Invesco Ltd. now owns 572,152 shares of the company’s stock valued at $316,234,000 after acquiring an additional 64,154 shares during the last quarter. 85.63% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Casey’s General Stores
In other news, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $838.16, for a total value of $4,777,512.00. Following the completion of the sale, the chief financial officer directly owned 29,677 shares of the company’s stock, valued at $24,874,074.32. This trade represents a 16.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Allison M. Wing sold 530 shares of Casey’s General Stores stock in a transaction that occurred 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 approximately $2,547,918.36. This trade represents a 14.84% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 30,243 shares of company stock valued at $24,421,877. Corporate insiders own 0.67% of the company’s stock.
Wall Street Analysts Forecast Growth
Check Out Our Latest Stock Report on Casey’s General Stores
Casey’s General Stores Price Performance
CASY stock opened at $755.47 on Monday. 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 capitalization of $27.96 billion, a P/E ratio of 39.43, a price-to-earnings-growth ratio of 2.59 and a beta of 0.61. The company has a fifty day simple moving average of $831.92 and a two-hundred day simple moving average of $782.18. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59.
Casey’s General Stores (NASDAQ:CASY – Get Free Report) last posted its earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $3.31 by $1.06. The firm had revenue of $4.57 billion for 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% on a year-over-year basis. During the same period in the previous year, the firm posted $2.63 EPS. Analysts anticipate that Casey’s General Stores, Inc. will post 21.11 earnings per share for the current fiscal year.
Casey’s General Stores Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Saturday, August 1st were given 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 boost 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 (DPR) is currently 13.57%.
About Casey’s General Stores
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.
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