Meeder Advisory Services Inc. Takes $597,000 Position in Casey’s General Stores, Inc. $CASY

Meeder Advisory Services Inc. acquired a new stake in Casey’s General Stores, Inc. (NASDAQ:CASY) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 751 shares of the company’s stock, valued at approximately $597,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Casey’s General Stores in the 2nd quarter valued at about $2,759,895,000. Northwestern Mutual Wealth Management Co. lifted its holdings in 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 valued at $1,469,747,000 after acquiring 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 during the period. Geode Capital Management LLC increased its stake in Casey’s General Stores by 7.4% during 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 during the last quarter. Finally, Invesco Ltd. increased its stake in Casey’s General Stores by 12.6% during the fourth quarter. Invesco Ltd. now owns 572,152 shares of the company’s stock worth $316,234,000 after acquiring an additional 64,154 shares during the last quarter. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CASY. Royal Bank Of Canada reiterated a “sector perform” rating and set a $913.00 price target on shares of Casey’s General Stores in a report on Wednesday, July 29th. Evercore restated an “outperform” rating and issued a $990.00 price objective on shares of Casey’s General Stores in a report on Friday, June 12th. Weiss Ratings cut shares of Casey’s General Stores from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, July 21st. Wall Street Zen raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Finally, KeyCorp lifted their price target on shares of Casey’s General Stores from $950.00 to $970.00 and gave the company an “overweight” rating in a research report 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. According to data from MarketBeat, Casey’s General Stores has an average rating of “Moderate Buy” and a consensus price target of $944.20.

Insiders Place Their Bets

In other Casey’s General Stores news, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the company’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $838.16, for a total transaction of $4,777,512.00. Following the sale, the chief financial officer owned 29,677 shares in the company, valued at $24,874,074.32. This represents a 16.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Allison M. Wing sold 530 shares of the stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $837.58, for a total value of $443,917.40. Following the completion of the sale, the director directly owned 3,042 shares in the company, valued at $2,547,918.36. This represents a 14.84% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 30,243 shares of company stock valued at $24,421,877. 0.67% of the stock is owned by company insiders.

Casey’s General Stores Stock Performance

Shares of Casey’s General Stores stock opened at $828.38 on Friday. The business has a 50-day moving average of $838.47 and a 200 day moving average of $775.47. Casey’s General Stores, Inc. has a 12 month low of $490.00 and a 12 month high of $927.85. The stock has a market capitalization of $30.66 billion, a price-to-earnings ratio of 43.23, a price-to-earnings-growth ratio of 2.80 and a beta of 0.61. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.31 by $1.06. The company had revenue of $4.57 billion for 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%. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.63 earnings per share. As a group, sell-side analysts forecast 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 declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Saturday, August 1st were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend 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 was Friday, July 31st. Casey’s General Stores’s payout ratio is presently 13.57%.

About Casey’s General Stores

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.