Legal & General Group Plc Takes Position in Casey’s General Stores, Inc. $CASY

Legal & General Group Plc purchased a new position in Casey’s General Stores, Inc. (NASDAQ:CASY) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 114,695 shares of the company’s stock, valued at approximately $91,158,000. Legal & General Group Plc owned about 0.31% of Casey’s General Stores at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Fiduciary Financial Advisors bought a new position in shares of Casey’s General Stores in the second quarter worth approximately $26,000. Whipplewood Advisors LLC bought a new stake in shares of Casey’s General Stores during the first quarter valued at approximately $33,000. Bell Investment Advisors Inc bought a new stake in shares of Casey’s General Stores during the second quarter valued at approximately $33,000. Larson Financial Group LLC increased its position in shares of Casey’s General Stores by 252.4% during the fourth quarter. Larson Financial Group LLC now owns 74 shares of the company’s stock valued at $41,000 after acquiring an additional 53 shares in the last quarter. Finally, RMG Wealth Management LLC raised its holdings in Casey’s General Stores by 250.0% in the 1st quarter. RMG Wealth Management LLC now owns 56 shares of the company’s stock worth $41,000 after acquiring an additional 40 shares during the last quarter. Institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Stock Down 5.4%

Shares of Casey’s General Stores stock opened at $763.38 on Friday. Casey’s General Stores, Inc. has a twelve month low of $490.00 and a twelve month high of $927.85. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The company’s 50 day moving average is $833.65 and its 200 day moving average is $781.50. The company has a market cap of $28.25 billion, a price-to-earnings ratio of 39.84, a price-to-earnings-growth ratio of 2.76 and a beta of 0.61.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $1.06. The business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.33 billion. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The firm’s revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.63 EPS. Research analysts anticipate that Casey’s General Stores, Inc. will post 21.11 EPS for the current year.

Casey’s General Stores Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors 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 an increase from Casey’s General Stores’s previous quarterly dividend of $0.57. This represents a $2.60 annualized dividend and a dividend yield of 0.3%. Casey’s General Stores’s dividend payout ratio is presently 13.57%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CASY. Stephens set a $975.00 price objective on Casey’s General Stores and gave the company an “overweight” rating in a research report on Friday, June 12th. Wall Street Zen raised Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Zacks Research cut Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. BNP Paribas Exane lowered their price target on Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating on the stock in a report on Thursday, June 25th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $913.00 price objective on shares of Casey’s General Stores in a research report on Wednesday, July 29th. Fourteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Casey’s General Stores presently has an average rating of “Moderate Buy” and a consensus target price of $942.87.

Insider Activity at Casey’s General Stores

In other Casey’s General Stores news, insider Katrina S. Lindsey sold 2,000 shares of the stock in a transaction dated Monday, June 29th. The stock was 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 approximately $5,334,400. This represents a 23.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chad Michael Frazell sold 3,013 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $787.49, for a total value of $2,372,707.37. Following the completion of the transaction, the insider directly owned 9,823 shares in the company, valued at $7,735,514.27. The trade was a 23.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 30,243 shares of company stock valued at $24,421,877 in the last 90 days. 0.67% of the stock is owned by company insiders.

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.