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 - Free Report) 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 - Get Free Report) 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.

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