Daiichi Life Insurance Co. Ltd. Takes Position in Casey’s General Stores, Inc. $CASY

Daiichi Life Insurance Co. Ltd. bought a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 1,537 shares of the company’s stock, valued at approximately $1,222,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Whipplewood Advisors LLC bought a new stake in Casey’s General Stores in the first quarter worth $33,000. Bell Investment Advisors Inc purchased a new stake in Casey’s General Stores during the second quarter valued at about $33,000. Larson Financial Group LLC grew its stake in shares of Casey’s General Stores by 252.4% during the fourth quarter. Larson Financial Group LLC now owns 74 shares of the company’s stock valued at $41,000 after buying an additional 53 shares during the last quarter. RMG Wealth Management LLC grew its stake in shares of Casey’s General Stores by 250.0% during the first quarter. RMG Wealth Management LLC now owns 56 shares of the company’s stock valued at $41,000 after buying an additional 40 shares during the last quarter. Finally, Elyxium Wealth LLC purchased a new position in shares of Casey’s General Stores in the fourth quarter worth about $43,000. Institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Price Performance

CASY stock opened at $854.21 on Tuesday. The stock has a market capitalization of $31.61 billion, a price-to-earnings ratio of 44.58, a PEG ratio of 2.86 and a beta of 0.61. The firm’s 50-day moving average price is $836.91 and its two-hundred day moving average price is $778.44. The company has a current ratio of 1.01, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. Casey’s General Stores, Inc. has a 12-month low of $490.00 and a 12-month high of $927.85.

Casey’s General Stores (NASDAQ:CASY) 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 company had revenue of $4.57 billion during the quarter, compared to analyst estimates 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 in the prior year, the business posted $2.63 earnings per share. As a group, equities analysts predict that Casey’s General Stores, Inc. will post 21.11 earnings per share for the current year.

Casey’s General Stores Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Saturday, August 1st were issued a $0.65 dividend. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.57. The ex-dividend date was Friday, July 31st. This represents a $2.60 annualized dividend and a yield of 0.3%. Casey’s General Stores’s dividend payout ratio (DPR) is 13.57%.

Insiders Place Their Bets

In other news, CFO Stephen P. Bramlage, Jr. sold 5,700 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 $838.16, for a total value of $4,777,512.00. Following the sale, the chief financial officer directly owned 29,677 shares in the company, valued at approximately $24,874,074.32. This trade represents a 16.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Allison M. Wing sold 530 shares of the business’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $837.58, for a total value of $443,917.40. Following the transaction, the director directly owned 3,042 shares in the company, valued at $2,547,918.36. This trade represents a 14.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 30,243 shares of company stock worth $24,421,877. Insiders own 0.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company boosted their target price on Casey’s General Stores from $910.00 to $960.00 and gave the company an “overweight” rating in a research note on Thursday, June 11th. The Goldman Sachs Group raised their price target on Casey’s General Stores from $695.00 to $795.00 and gave the stock a “neutral” rating in a research report on Thursday, June 25th. Stephens set a $975.00 price target on Casey’s General Stores and gave the stock an “overweight” rating in a research note on Friday, June 12th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $913.00 price objective on shares of Casey’s General Stores in a research report on Wednesday, July 29th. Finally, UBS Group increased their price objective on 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. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $944.20.

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.