Mufg Securities Americas Inc. Makes New $885,000 Investment in Casey’s General Stores, Inc. $CASY

Mufg Securities Americas Inc. bought a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the 2nd quarter, Holdings Channel reports. The firm bought 1,113 shares of the company’s stock, valued at approximately $885,000.

A number of other hedge funds have also recently modified their holdings of the business. Fiduciary Financial Advisors purchased a new stake in shares of Casey’s General Stores in the second quarter worth approximately $26,000. Whipplewood Advisors LLC purchased a new position in Casey’s General Stores during the 1st quarter valued at $33,000. Bell Investment Advisors Inc bought a new position in Casey’s General Stores in the 2nd quarter valued at $33,000. Caitlin John LLC bought a new position in Casey’s General Stores in the 2nd quarter valued at $35,000. Finally, Larson Financial Group LLC increased its stake in Casey’s General Stores by 252.4% in the fourth quarter. Larson Financial Group LLC now owns 74 shares of the company’s stock worth $41,000 after purchasing an additional 53 shares during the period. Institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Price Performance

CASY opened at $755.47 on Monday. The company has a market capitalization of $27.96 billion, a price-to-earnings ratio of 39.43, a PEG ratio of 2.59 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. The business’s fifty day simple moving average is $831.92 and its 200-day simple moving average is $782.18.

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, beating the consensus estimate 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 firm 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 company posted $2.63 earnings per share. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. On average, equities research analysts anticipate that Casey’s General Stores, Inc. will post 21.11 earnings per share for the current fiscal 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 $0.65 dividend. The ex-dividend date was Friday, July 31st. This represents a $2.60 annualized dividend and a dividend yield of 0.3%. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.57. Casey’s General Stores’s dividend payout ratio (DPR) is presently 13.57%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CASY shares. BMO Capital Markets upgraded Casey’s General Stores from a “market perform” rating to an “outperform” rating and set a $950.00 target price for the company in a research report on Monday, June 29th. Capital One Financial started coverage on shares of Casey’s General Stores in a research note on Monday, June 22nd. They issued an “equal weight” rating and a $896.00 price target on the stock. William Blair started coverage on shares of Casey’s General Stores in a report on Wednesday, May 20th. They set an “outperform” rating for the company. JPMorgan Chase & Co. boosted their price objective on shares of Casey’s General Stores from $719.00 to $975.00 and gave the company a “neutral” rating in a research report on Friday, June 12th. Finally, Wolfe Research restated an “outperform” rating and issued a $1,069.00 target price on shares of Casey’s General Stores in a research note on Thursday, June 11th. Fourteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $942.87.

Insider Transactions at Casey’s General Stores

In related news, insider Katrina S. Lindsey sold 2,000 shares of Casey’s General Stores stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $800.00, for a total transaction of $1,600,000.00. Following the transaction, the insider directly owned 6,668 shares of the company’s stock, valued at $5,334,400. This trade represents a 23.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Darren M. Rebelez sold 19,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $801.46, for a total transaction of $15,227,740.00. Following the completion of the transaction, the chief executive officer directly owned 89,174 shares of the company’s stock, valued at $71,469,394.04. This trade represents a 17.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 30,243 shares of company stock worth $24,421,877. Insiders own 0.67% of the company’s stock.

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.