Resona Asset Management Co. Ltd. Buys 10,857 Shares of Casey’s General Stores, Inc. $CASY

Resona Asset Management Co. Ltd. increased its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 2,044.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,388 shares of the company’s stock after buying an additional 10,857 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Casey’s General Stores were worth $8,252,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CASY. NewEdge Advisors LLC lifted its position in shares of Casey’s General Stores by 6.4% in the 1st quarter. NewEdge Advisors LLC now owns 1,871 shares of the company’s stock worth $812,000 after acquiring an additional 113 shares during the period. Geneos Wealth Management Inc. increased its position in shares of Casey’s General Stores by 129.6% during the first quarter. Geneos Wealth Management Inc. now owns 186 shares of the company’s stock valued at $81,000 after purchasing an additional 105 shares during the period. EverSource Wealth Advisors LLC raised its stake 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 valued at $111,000 after purchasing an additional 177 shares in the last quarter. Amundi acquired a new position in shares of Casey’s General Stores in the second quarter valued at $338,000. Finally, Jump Financial LLC lifted its position in Casey’s General Stores by 42.6% in the second quarter. Jump Financial LLC now owns 968 shares of the company’s stock worth $494,000 after purchasing an additional 289 shares during the period. 85.63% of the stock is currently owned by institutional investors.

More Casey’s General Stores News

Here are the key news stories impacting Casey’s General Stores this week:

• Positive Sentiment: Jim Cramer said he would “buy 10 shares” of Casey’s General Stores every three weeks, which may reinforce a constructive long-term view among retail investors. Jim Cramer Suggests Buying 10 Casey’s Shares Every Three Weeks
• Positive Sentiment: Casey’s recently boosted its quarterly dividend to $0.65 per share from $0.57, signaling confidence in cash flow and shareholder returns.
• Positive Sentiment: The company’s latest earnings beat expectations, with revenue and EPS both coming in above estimates, which continues to support the stock’s longer-term strength.
• Neutral Sentiment: Short-interest data showed 0 reported shares, so there is no meaningful bearish short positioning signal in the latest update.
• Negative Sentiment: CEO Darren Rebelez sold 19,000 shares, a sizable reduction in his holdings, which can weigh on sentiment even if the sale was preplanned or personal. SEC Filing
• Negative Sentiment: CFO Stephen P. Bramlage, Jr. also sold 5,700 shares, adding to the impression that insiders are taking profits after the stock’s recent rally. SEC Filing

Casey’s General Stores Price Performance

Casey’s General Stores stock traded down $2.17 during mid-day trading on Friday, hitting $819.83. 272,113 shares of the company were exchanged, compared to its average volume of 558,474. The company has a market capitalization of $30.34 billion, a PE ratio of 42.79, a price-to-earnings-growth ratio of 2.46 and a beta of 0.62. The business has a fifty day moving average of $823.60 and a 200 day moving average of $722.17. Casey’s General Stores, Inc. has a 1-year low of $490.00 and a 1-year 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.

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 the consensus estimate 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 company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter in the previous year, the company earned $2.63 EPS. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, sell-side analysts expect that Casey’s General Stores, Inc. will post 21.14 earnings per share for the current year.

Casey’s General Stores Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Saturday, August 1st will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $2.60 annualized dividend and a 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 payout ratio is 11.90%.

Insider Transactions at Casey’s General Stores

In other news, CEO Darren M. Rebelez sold 19,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $801.46, for a total transaction of $15,227,740.00. Following the completion of the sale, the chief executive officer owned 89,174 shares of the company’s stock, valued at approximately $71,469,394.04. This trade represents a 17.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 completion of the transaction, the insider owned 6,668 shares of the company’s stock, valued at $5,334,400. This trade represents a 23.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 30,243 shares of company stock valued at $24,421,877. 0.54% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CASY shares. KeyCorp lifted 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 note on Thursday, June 11th. Morgan Stanley upgraded shares of Casey’s General Stores to a “buy” rating in a research report on Wednesday, June 10th. William Blair assumed coverage on shares of Casey’s General Stores in a research note on Wednesday, May 20th. They issued an “outperform” rating on the stock. Wells Fargo & Company increased their price target on shares of Casey’s General Stores from $910.00 to $960.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. Finally, Evercore restated an “outperform” rating and set a $990.00 price target on shares of Casey’s General Stores in a research note on Friday, June 12th. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Casey’s General Stores presently has an average rating of “Moderate Buy” and an average target price of $939.29.

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.