PensionDanmark Pensionsforsikringsaktieselskab Invests $636,000 in Casey’s General Stores, Inc. $CASY

PensionDanmark Pensionsforsikringsaktieselskab bought a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 800 shares of the company’s stock, valued at approximately $636,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CASY. Northwestern Mutual Wealth Management Co. increased its position in shares of Casey’s General Stores by 179,938.2% in 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 purchasing an additional 2,657,687 shares during the last quarter. Franklin Resources Inc. grew its position in Casey’s General Stores by 40.9% in the fourth quarter. Franklin Resources Inc. now owns 1,068,682 shares of the company’s stock worth $590,671,000 after acquiring an additional 310,470 shares in the last quarter. Geode Capital Management LLC grew its position in Casey’s General Stores by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 760,438 shares of the company’s stock worth $420,416,000 after acquiring an additional 52,250 shares in the last quarter. Invesco Ltd. increased its stake in Casey’s General Stores by 12.6% in the fourth 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. Finally, Norges Bank bought a new position in Casey’s General Stores in the fourth quarter valued at $265,163,000. 85.63% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Chad Michael Frazell sold 3,013 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider owned 9,823 shares of the company’s stock, valued at approximately $7,735,514.27. This trade represents a 23.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Katrina S. Lindsey sold 2,000 shares of Casey’s General Stores stock in a transaction 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 owned 6,668 shares in the company, valued at $5,334,400. This represents a 23.07% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 30,243 shares of company stock worth $24,421,877. Insiders own 0.67% of the company’s stock.

Casey’s General Stores Stock Up 2.5%

NASDAQ:CASY opened at $854.46 on Tuesday. Casey’s General Stores, Inc. has a fifty-two week low of $490.00 and a fifty-two week high of $927.85. The firm has a market cap of $31.62 billion, a P/E ratio of 44.60, a P/E/G ratio of 2.50 and a beta of 0.61. The firm has a 50-day simple moving average of $831.22 and a two-hundred day simple moving average of $762.62. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 1.01.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $1.06. The business had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.33 billion. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The firm’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.63 EPS. Analysts predict that Casey’s General Stores, Inc. will post 21.14 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Saturday, August 1st will be 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 positive change from Casey’s General Stores’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, July 31st. Casey’s General Stores’s payout ratio is currently 13.57%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Evercore restated an “outperform” rating and set a $990.00 price target on shares of Casey’s General Stores in a research 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. Northcoast Research raised shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $950.00 price target for the company in a research report on Monday, July 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $1,000.00 price objective on shares of Casey’s General Stores in a report on Monday, June 15th. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $1,069.00 target price on shares of Casey’s General Stores in a research note on Thursday, June 11th. Fourteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Casey’s General Stores presently has a consensus rating of “Moderate Buy” and a consensus target price of $944.20.

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.