IFM Investors Pty Ltd Acquires New Position in Casey’s General Stores, Inc. $CASY

IFM Investors Pty Ltd acquired a new stake in Casey’s General Stores, Inc. (NASDAQ:CASY) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 7,654 shares of the company’s stock, valued at approximately $5,571,000.

A number of other institutional investors have also recently bought and sold shares of CASY. SevenBridge Financial Group LLC acquired a new position in Casey’s General Stores in the first quarter valued at about $3,678,000. Midwest Financial Partners Investments Inc. bought a new position in Casey’s General Stores during the 1st quarter worth approximately $404,000. Inspire Investing LLC grew its holdings in Casey’s General Stores by 13.1% during the first quarter. Inspire Investing LLC now owns 10,283 shares of the company’s stock valued at $7,485,000 after purchasing an additional 1,193 shares during the period. Asset Allocation Strategies LLC acquired a new position in Casey’s General Stores during the first quarter valued at approximately $218,000. Finally, Pinnacle Bancorp Inc. increased its stake in Casey’s General Stores by 4.8% in the first quarter. Pinnacle Bancorp Inc. now owns 303 shares of the company’s stock valued at $221,000 after purchasing an additional 14 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Analysts Set New Price Targets

CASY has been the topic of several recent analyst reports. Stephens set a $975.00 target price on Casey’s General Stores and gave the stock an “overweight” rating in a report on Friday, June 12th. Wall Street Zen upgraded Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. William Blair started coverage on Casey’s General Stores in a research report on Wednesday, May 20th. They issued an “outperform” rating for the company. Zacks Research cut Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. Finally, UBS Group lifted their price target on shares of Casey’s General Stores from $805.00 to $945.00 and gave the company a “neutral” rating in a research note on Thursday, June 11th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Casey’s General Stores has an average rating of “Moderate Buy” and an average target price of $939.29.

Casey’s General Stores Price Performance

Shares of CASY opened at $797.42 on Friday. 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, Inc. has a twelve month low of $490.00 and a twelve month high of $927.85. The stock has a market capitalization of $29.51 billion, a P/E ratio of 41.62, a P/E/G ratio of 2.40 and a beta of 0.62. The company has a 50 day moving average of $820.92 and a 200-day moving average of $712.84.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, topping the consensus estimate of $3.31 by $1.06. The business 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%. The firm’s revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.63 earnings per share. As a group, equities research analysts forecast that Casey’s General Stores, Inc. will post 21.05 EPS for the current fiscal 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 paid a $0.65 dividend. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.57. This represents a $2.60 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, July 31st. Casey’s General Stores’s dividend payout ratio (DPR) is 11.90%.

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 that occurred on 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 transaction, the insider directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chad Michael Frazell sold 3,013 shares of the firm’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $787.49, for a total value of $2,372,707.37. Following the sale, the insider directly owned 9,823 shares of the company’s stock, valued at $7,735,514.27. This 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.