Mitsubishi UFJ Asset Management Co. Ltd. Makes New Investment in Casey’s General Stores, Inc. $CASY

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 90,772 shares of the company’s stock, valued at approximately $72,145,000.

Other hedge funds have also recently modified their holdings of the company. NewEdge Advisors LLC grew its position in Casey’s General Stores by 6.4% during the 1st quarter. NewEdge Advisors LLC now owns 1,871 shares of the company’s stock worth $812,000 after purchasing an additional 113 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in Casey’s General Stores by 129.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 186 shares of the company’s stock valued at $81,000 after purchasing an additional 105 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Casey’s General Stores by 431.7% in the second quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company’s stock worth $111,000 after buying an additional 177 shares during the last quarter. Amundi purchased a new position in shares of Casey’s General Stores in the second quarter worth $338,000. Finally, Jump Financial LLC lifted its stake in shares of Casey’s General Stores by 42.6% during the second quarter. Jump Financial LLC now owns 968 shares of the company’s stock worth $494,000 after buying an additional 289 shares during the period. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Stock Performance

Shares of NASDAQ CASY opened at $836.15 on Thursday. The company has a 50 day simple moving average of $840.22 and a two-hundred day simple moving average of $773.90. The stock has a market cap of $30.95 billion, a price-to-earnings ratio of 43.64, a PEG ratio of 2.56 and a beta of 0.61. The company has a current ratio of 1.01, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. Casey’s General Stores, Inc. has a 12 month low of $490.00 and a 12 month high of $927.85.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, topping 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 firm had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same quarter in the prior year, the business earned $2.63 earnings per share. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. As a group, analysts predict that Casey’s General Stores, Inc. will post 21.14 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 issued a $0.65 dividend. 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. This represents a $2.60 annualized dividend and a yield of 0.3%. Casey’s General Stores’s dividend payout ratio is currently 13.57%.

Insider Buying and Selling

In other Casey’s General Stores news, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the 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 directly owned 29,677 shares of the company’s stock, valued at approximately $24,874,074.32. This trade represents a 16.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Katrina S. Lindsey sold 2,000 shares of Casey’s General Stores stock in a transaction dated 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 of the company’s stock, valued at $5,334,400. The trade was a 23.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 30,243 shares of company stock valued at $24,421,877 in the last 90 days. 0.67% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CASY has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $1,000.00 price objective on shares of Casey’s General Stores in a report on Monday, June 15th. Morgan Stanley upgraded Casey’s General Stores to a “buy” rating in a research note on Wednesday, June 10th. Weiss Ratings cut Casey’s General Stores from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, July 21st. Wells Fargo & Company increased their price objective on Casey’s General Stores from $910.00 to $960.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. Finally, UBS Group increased their price objective 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. Fourteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. 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.