Meeder Asset Management Inc. Acquires Shares of 13,346 Casey’s General Stores, Inc. $CASY

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

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of Casey’s General Stores during the 2nd quarter valued at approximately $2,759,895,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Casey’s General Stores by 179,938.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,659,164 shares of the company’s stock worth $1,469,747,000 after buying an additional 2,657,687 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of 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 buying an additional 310,470 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Casey’s General Stores by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 760,438 shares of the company’s stock worth $420,416,000 after buying an additional 52,250 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of Casey’s General Stores by 12.6% in the fourth quarter. Invesco Ltd. now owns 572,152 shares of the company’s stock worth $316,234,000 after buying an additional 64,154 shares during the last quarter. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Casey’s General Stores

In related news, Director Allison M. Wing sold 530 shares of Casey’s General Stores stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $837.58, for a total transaction of $443,917.40. Following the sale, the director directly owned 3,042 shares in the company, valued at $2,547,918.36. The trade was a 14.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of Casey’s General Stores stock in a transaction dated Wednesday, July 8th. The shares were 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 approximately $24,874,074.32. This represents a 16.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 30,243 shares of company stock valued at $24,421,877. 0.67% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on CASY. Capital One Financial initiated coverage on shares of Casey’s General Stores in a research note on Monday, June 22nd. They set an “equal weight” rating and a $896.00 price objective on the stock. Evercore reissued an “outperform” rating and set a $990.00 price objective on shares of Casey’s General Stores in a report on Friday, June 12th. KeyCorp boosted their target price on shares of Casey’s General Stores from $950.00 to $970.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. Northcoast Research upgraded shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $950.00 target price on the stock in a research note on Monday, July 13th. Finally, Stephens set a $975.00 price target on shares of Casey’s General Stores and gave the stock an “overweight” rating in a research report on Friday, June 12th. Fourteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $944.20.

Casey’s General Stores Stock Performance

Shares of CASY opened at $870.01 on Tuesday. The business’s fifty day moving average price is $839.94 and its 200 day moving average price is $770.63. 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 $32.20 billion, a PE ratio of 45.41, a price-to-earnings-growth ratio of 2.54 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 earnings results on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $1.06. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The company had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same period in the previous year, the firm posted $2.63 earnings per share. Casey’s General Stores’s quarterly revenue was up 14.5% compared to the same quarter last year. Equities research analysts forecast that Casey’s General Stores, Inc. will post 21.14 EPS 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. Stockholders 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 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 of this dividend was Friday, July 31st. Casey’s General Stores’s dividend payout ratio is 13.57%.

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.