Casey's General Stores, Inc. $CASY Shares Purchased by MetLife Investment Management LLC

Key Points

• MetLife Investment Management LLC increased its holdings in Casey's General Stores by 30.8%, now owning 27,729 shares valued at approximately $12.04 million.
• Several institutional investors raised their stakes in Casey's General Stores, with institutional ownership now totaling 85.63%.
• Casey’s General Stores reported earnings of $2.63 per share, surpassing estimates, and announced a raised quarterly dividend of $0.57 per share, up from $0.50.

MetLife Investment Management LLC raised its holdings in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 30.8% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,729 shares of the company's stock after acquiring an additional 6,524 shares during the quarter. MetLife Investment Management LLC owned approximately 0.07% of Casey's General Stores worth $12,035,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of CASY. Wellington Management Group LLP grew its position in Casey's General Stores by 190.6% in the 1st quarter. Wellington Management Group LLP now owns 1,244,311 shares of the company's stock valued at $540,081,000 after acquiring an additional 816,110 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Casey's General Stores by 54,448.8% during the 1st quarter. GAMMA Investing LLC now owns 543,852 shares of the company's stock worth $236,054,000 after buying an additional 542,855 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Casey's General Stores by 42.0% during the 1st quarter. JPMorgan Chase & Co. now owns 1,036,426 shares of the company's stock worth $449,851,000 after buying an additional 306,628 shares in the last quarter. Nuveen LLC bought a new position in shares of Casey's General Stores during the 1st quarter worth $76,467,000. Finally, Bank of New York Mellon Corp grew its position in shares of Casey's General Stores by 51.5% during the 1st quarter. Bank of New York Mellon Corp now owns 515,603 shares of the company's stock worth $223,792,000 after buying an additional 175,372 shares in the last quarter. Institutional investors own 85.63% of the company's stock.

Casey's General Stores Stock Performance

Shares of NASDAQ:CASY traded down $1.48 during trading on Friday, hitting $494.52. The stock had a trading volume of 242,875 shares, compared to its average volume of 222,953. Casey's General Stores, Inc. has a 12-month low of $350.52 and a 12-month high of $531.24. The stock has a market capitalization of $18.39 billion, a price-to-earnings ratio of 33.78 and a beta of 0.69. The company has a quick ratio of 0.48, a current ratio of 0.92 and a debt-to-equity ratio of 0.69. The stock has a 50-day simple moving average of $514.19 and a two-hundred day simple moving average of $465.72.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings data on Monday, June 9th. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.69. Casey's General Stores had a return on equity of 16.28% and a net margin of 3.43%.The firm had revenue of $3.99 billion during the quarter, compared to analysts' expectations of $3.95 billion. During the same period last year, the business posted $2.34 earnings per share. The company's revenue for the quarter was up 10.9% compared to the same quarter last year. On average, equities research analysts expect that Casey's General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey's General Stores Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were paid a $0.57 dividend. The ex-dividend date was Friday, August 1st. This is a positive change from Casey's General Stores's previous quarterly dividend of $0.50. This represents a $2.28 annualized dividend and a dividend yield of 0.5%. Casey's General Stores's dividend payout ratio (DPR) is 15.57%.

Insider Transactions at Casey's General Stores

In other news, CEO Darren M. Rebelez sold 20,000 shares of the firm's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $507.83, for a total value of $10,156,600.00. Following the completion of the transaction, the chief executive officer directly owned 89,840 shares in the company, valued at $45,623,447.20. This trade represents a 18.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Katrina S. Lindsey sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $506.07, for a total value of $1,012,140.00. Following the completion of the sale, the insider directly owned 4,636 shares in the company, valued at approximately $2,346,140.52. The trade was a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,646 shares of company stock valued at $22,136,614. 0.54% of the stock is owned by company insiders.

Analysts Set New Price Targets

CASY has been the topic of a number of recent research reports. Wells Fargo & Company increased their price target on Casey's General Stores from $460.00 to $540.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 11th. Wall Street Zen upgraded Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. BMO Capital Markets upped their price objective on Casey's General Stores from $450.00 to $515.00 and gave the stock a "market perform" rating in a research note on Wednesday, June 11th. Royal Bank Of Canada upped their price objective on Casey's General Stores from $468.00 to $542.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 9th. Finally, Stephens reiterated an "overweight" rating and issued a $490.00 price target on shares of Casey's General Stores in a research note on Tuesday, June 10th. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Casey's General Stores presently has an average rating of "Moderate Buy" and an average target price of $467.33.

Casey's General Stores Company Profile

Casey's General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.