Meiji Yasuda Life Insurance Co Invests $540,000 in Casey’s General Stores, Inc. $CASY

Meiji Yasuda Life Insurance Co bought a new stake in 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 firm bought 680 shares of the company’s stock, valued at approximately $540,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Greenwood Capital Associates LLC purchased a new position in shares of Casey’s General Stores in the second quarter valued at $3,303,000. Greenleaf Trust lifted its stake in Casey’s General Stores by 13.1% in the second quarter. Greenleaf Trust now owns 1,061 shares of the company’s stock valued at $843,000 after buying an additional 123 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Casey’s General Stores by 37.7% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 149,509 shares of the company’s stock valued at $118,828,000 after acquiring an additional 40,944 shares during the period. Mufg Securities Americas Inc. acquired a new position in shares of Casey’s General Stores during the second quarter valued at $885,000. Finally, Nissay Asset Management Corp Japan increased its holdings in shares of Casey’s General Stores by 7.1% during the second quarter. Nissay Asset Management Corp Japan now owns 4,980 shares of the company’s stock valued at $3,958,000 after purchasing an additional 330 shares during the period. Institutional investors and hedge funds own 85.63% of the company’s stock.

Insider Buying and Selling at Casey’s General Stores

In other news, CEO Darren M. Rebelez sold 19,000 shares of Casey’s General Stores stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $801.46, for a total transaction of $15,227,740.00. Following the transaction, the chief executive officer owned 89,174 shares in the company, valued at approximately $71,469,394.04. The trade was a 17.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the company’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $838.16, for a total value of $4,777,512.00. Following the transaction, the chief financial officer directly owned 29,677 shares in the company, valued at $24,874,074.32. The trade was a 16.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 30,243 shares of company stock valued at $24,421,877 in the last ninety days. Company insiders own 0.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. KeyCorp upped their price target on shares of Casey’s General Stores from $950.00 to $970.00 and gave the stock an “overweight” rating in a research note on Thursday, June 11th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $1,000.00 target price on shares of Casey’s General Stores in a report on Monday, June 15th. BNP Paribas Exane cut their target price on Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating for the company in a research report on Thursday, June 25th. Capital One Financial initiated coverage on Casey’s General Stores in a research note on Monday, June 22nd. They set an “equal weight” rating and a $896.00 price target for the company. Finally, Northcoast Research upgraded Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $950.00 price target on the stock in a research report on Monday, July 13th. Fourteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $942.87.

Casey’s General Stores Price Performance

Shares of NASDAQ:CASY opened at $755.47 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 1.01. The company has a market cap of $27.96 billion, a PE ratio of 39.43, a price-to-earnings-growth ratio of 2.59 and a beta of 0.61. Casey’s General Stores, Inc. has a 52 week low of $490.00 and a 52 week high of $927.85. The firm has a 50 day simple moving average of $831.92 and a 200 day simple moving average of $782.18.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, topping the consensus estimate of $3.31 by $1.06. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The firm had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.33 billion. During the same period in the previous year, the company posted $2.63 EPS. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. As a group, research analysts expect 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 announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Saturday, August 1st were given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.3%. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Friday, July 31st. Casey’s General Stores’s payout ratio is 13.57%.

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.