Mitsubishi UFJ Asset Management Co. Ltd. Takes $72.14 Million Position in Casey’s General Stores, Inc. $CASY

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Casey’s General Stores, Inc. (NASDAQ:CASY) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 90,772 shares of the company’s stock, valued at approximately $72,145,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.25% of Casey’s General Stores as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Casey’s General Stores by 179,938.2% in the 4th 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 during the period. Franklin Resources Inc. grew its position in shares of Casey’s General Stores by 40.9% during the 4th 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 in the last quarter. Geode Capital Management LLC increased its stake in shares of 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 during the period. Invesco Ltd. increased its stake in shares of 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 during the period. Finally, Norges Bank bought a new stake in shares of Casey’s General Stores in the fourth quarter valued at about $265,163,000. Institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Trading Down 2.2%

Shares of NASDAQ CASY opened at $836.15 on Thursday. Casey’s General Stores, Inc. has a 1-year low of $490.00 and a 1-year high of $927.85. The business has a fifty day moving average price of $840.22 and a 200 day moving average price of $773.90. The stock has a market capitalization of $30.95 billion, a P/E ratio of 43.64, a price-to-earnings-growth ratio of 2.56 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 posted its earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $1.06. The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.33 billion. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.63 earnings per share. Equities research analysts expect 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 disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Saturday, August 1st were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.3%. 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. Casey’s General Stores’s payout ratio is presently 13.57%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CASY. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $913.00 price objective on shares of Casey’s General Stores in a research note on Wednesday, July 29th. Evercore restated an “outperform” rating and issued a $990.00 price target on shares of Casey’s General Stores in a report on Friday, June 12th. 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. KeyCorp upped their price target 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. Finally, William Blair initiated coverage on shares of Casey’s General Stores in a research note on Wednesday, May 20th. They set an “outperform” rating on the stock. Fourteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $944.20.

Insider Transactions at Casey’s General Stores

In other Casey’s General Stores news, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $838.16, for a total value of $4,777,512.00. Following the completion of the sale, the chief financial officer directly owned 29,677 shares in the company, valued at $24,874,074.32. This trade represents a 16.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chad Michael Frazell sold 3,013 shares of Casey’s General Stores stock in a transaction on Tuesday, June 30th. The stock was 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 in the company, valued at $7,735,514.27. This represents a 23.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 30,243 shares of company stock worth $24,421,877. 0.67% of the stock is owned by corporate 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.