13,346 Shares in Casey’s General Stores, Inc. $CASY Purchased by Meeder Asset Management Inc.

Meeder Asset Management Inc. bought a new position in Casey’s General Stores, Inc. (NASDAQ:CASY) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 13,346 shares of the company’s stock, valued at approximately $10,607,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of Casey’s General Stores during the 2nd quarter worth about $2,759,895,000. Northwestern Mutual Wealth Management Co. raised 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 buying an additional 2,657,687 shares during the period. Franklin Resources Inc. raised its holdings 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 valued at $590,671,000 after buying an additional 310,470 shares during the period. Geode Capital Management LLC lifted its position 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 valued at $420,416,000 after buying an additional 52,250 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Casey’s General Stores by 12.6% during the fourth quarter. Invesco Ltd. now owns 572,152 shares of the company’s stock valued at $316,234,000 after buying an additional 64,154 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Insider Buying and Selling at Casey’s General Stores

In other Casey’s General Stores news, insider Katrina S. Lindsey sold 2,000 shares of the business’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $800.00, for a total value of $1,600,000.00. Following the transaction, the insider owned 6,668 shares in the company, valued at $5,334,400. The trade was a 23.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Chad Michael Frazell sold 3,013 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $787.49, for a total transaction of $2,372,707.37. Following the completion of the transaction, the insider directly owned 9,823 shares of the company’s stock, valued at approximately $7,735,514.27. The trade was a 23.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 30,243 shares of company stock worth $24,421,877. 0.67% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CASY shares. Wall Street Zen raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Wolfe Research restated an “outperform” rating and set a $1,069.00 target price on shares of Casey’s General Stores in a report on Thursday, June 11th. Zacks Research cut shares of Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. UBS Group increased their price target on Casey’s General Stores from $805.00 to $945.00 and gave the company a “neutral” rating in a report on Thursday, June 11th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $1,000.00 price objective on shares of Casey’s General Stores in a research report on Monday, June 15th. Fourteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $944.20.

Casey’s General Stores Stock Up 2.8%

NASDAQ CASY opened at $870.01 on Tuesday. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. Casey’s General Stores, Inc. has a fifty-two week low of $490.00 and a fifty-two week high of $927.85. The business has a 50 day moving average price of $839.94 and a two-hundred day moving average price of $770.63. The stock has a market cap of $32.20 billion, a PE ratio of 45.41, a P/E/G ratio of 2.54 and a beta of 0.61.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same quarter last year, the firm posted $2.63 earnings per share. The business’s quarterly revenue was up 14.5% on a year-over-year basis. As a group, sell-side analysts predict that Casey’s General Stores, Inc. will post 21.14 EPS for the current fiscal year.

Casey’s General Stores Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Saturday, August 1st were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Friday, July 31st. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.57. Casey’s General Stores’s dividend payout ratio (DPR) is 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.