SBI Okasan Asset Management Co.Ltd. Purchases New Stake in Casey’s General Stores, Inc. $CASY

SBI Okasan Asset Management Co.Ltd. purchased a new stake in Casey’s General Stores, Inc. (NASDAQ:CASY) in the 4th quarter, HoldingsChannel reports. The fund purchased 2,100 shares of the company’s stock, valued at approximately $1,191,000.

Several other hedge funds have also bought and sold shares of CASY. Foster Dykema Cabot & Partners LLC acquired a new stake in Casey’s General Stores in the 3rd quarter valued at $25,000. Westside Investment Management Inc. boosted its holdings in Casey’s General Stores by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 46 shares of the company’s stock worth $26,000 after acquiring an additional 23 shares during the last quarter. Central Pacific Bank Trust Division boosted its holdings in Casey’s General Stores by 52.8% during the 4th quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock worth $30,000 after acquiring an additional 19 shares during the last quarter. True Wealth Design LLC boosted its holdings in Casey’s General Stores by 350.0% during the 4th quarter. True Wealth Design LLC now owns 54 shares of the company’s stock worth $30,000 after acquiring an additional 42 shares during the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new position in Casey’s General Stores during the 3rd quarter worth $33,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

Insiders Place Their Bets

In other Casey’s General Stores news, Director Mike Spanos bought 300 shares of the stock in a transaction dated Friday, March 13th. The shares were bought at an average cost of $665.43 per share, for a total transaction of $199,629.00. Following the purchase, the director directly owned 4,499 shares of the company’s stock, valued at approximately $2,993,769.57. This trade represents a 7.14% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Katrina S. Lindsey sold 200 shares of Casey’s General Stores stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $683.04, for a total value of $136,608.00. Following the sale, the insider owned 4,039 shares in the company, valued at $2,758,798.56. The trade was a 4.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

CASY has been the topic of a number of analyst reports. Jefferies Financial Group lifted their price objective on shares of Casey’s General Stores from $700.00 to $780.00 and gave the stock a “buy” rating in a report on Tuesday, March 10th. JPMorgan Chase & Co. initiated coverage on shares of Casey’s General Stores in a report on Thursday, March 26th. They set a “neutral” rating and a $719.00 price objective on the stock. William Blair initiated coverage on shares of Casey’s General Stores in a report on Wednesday, May 20th. They set an “outperform” rating on the stock. Stephens reaffirmed an “overweight” rating and set a $680.00 price objective on shares of Casey’s General Stores in a report on Tuesday, March 10th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $700.00 price objective on shares of Casey’s General Stores in a report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $752.36.

Casey’s General Stores Trading Down 0.4%

NASDAQ CASY opened at $780.97 on Friday. The stock has a market capitalization of $28.86 billion, a price-to-earnings ratio of 44.83, a PEG ratio of 2.17 and a beta of 0.65. Casey’s General Stores, Inc. has a one year low of $433.16 and a one year high of $901.00. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.04 and a quick ratio of 0.64. The business’s fifty day moving average is $778.55 and its 200-day moving average is $666.89.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Monday, March 9th. The company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $2.94 by $0.55. The company had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $4.08 billion. Casey’s General Stores had a return on equity of 17.56% and a net margin of 3.83%.The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.33 EPS. Equities research analysts predict that Casey’s General Stores, Inc. will post 18.19 EPS for the current year.

Casey’s General Stores Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Friday, May 1st. Casey’s General Stores’s payout ratio is presently 13.09%.

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.