Osmosis Investment Management UK Ltd Buys New Position in Casey’s General Stores, Inc. $CASY

Osmosis Investment Management UK Ltd purchased a new position in Casey’s General Stores, Inc. (NASDAQ:CASY) in the second quarter, Holdings Channel.com reports. The fund purchased 699 shares of the company’s stock, valued at approximately $556,000.

Several other large investors have also added to or reduced their stakes in CASY. Geode Capital Management LLC raised its stake in 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 in the last quarter. Daiichi Life Insurance Co. Ltd. purchased a new stake in Casey’s General Stores in the second quarter worth about $1,222,000. Burns J W & Co. Inc. NY boosted its position in Casey’s General Stores by 103.5% during the 1st quarter. Burns J W & Co. Inc. NY now owns 2,448 shares of the company’s stock valued at $1,782,000 after acquiring an additional 1,245 shares in the last quarter. North Dakota State Investment Board bought a new stake in Casey’s General Stores during the 4th quarter valued at approximately $720,000. Finally, Jackson Creek Investment Advisors LLC bought a new stake in Casey’s General Stores during the 4th quarter valued at approximately $1,338,000. Institutional investors own 85.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. The Goldman Sachs Group increased their target price on Casey’s General Stores from $695.00 to $795.00 and gave the stock a “neutral” rating in a research report on Thursday, June 25th. KeyCorp lifted their price target on Casey’s General Stores from $950.00 to $970.00 and gave the company an “overweight” rating in a research report on Thursday, June 11th. Stephens set a $975.00 price target on Casey’s General Stores and gave the stock an “overweight” rating in a research note on Friday, June 12th. Wells Fargo & Company increased their price objective on Casey’s General Stores from $910.00 to $960.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. Finally, Morgan Stanley upgraded Casey’s General Stores to a “buy” rating in a report on Wednesday, June 10th. Fourteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $944.20.

Insider Activity at Casey’s General Stores

In other Casey’s General Stores news, Director Allison M. Wing sold 530 shares of the business’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $837.58, for a total value of $443,917.40. Following the sale, the director directly owned 3,042 shares of the company’s stock, valued at approximately $2,547,918.36. The trade was a 14.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Darren M. Rebelez sold 19,000 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $801.46, for a total value of $15,227,740.00. Following the completion of the sale, the chief executive officer directly owned 89,174 shares in the company, valued at approximately $71,469,394.04. This represents a 17.56% 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 worth $24,421,877 over the last quarter. 0.67% of the stock is currently owned by company insiders.

Casey’s General Stores Price Performance

Shares of CASY opened at $824.92 on Wednesday. Casey’s General Stores, Inc. has a fifty-two week low of $490.00 and a fifty-two week high of $927.85. The firm’s 50-day simple moving average is $836.11 and its two-hundred day simple moving average is $779.69. The stock has a market cap of $30.53 billion, a PE ratio of 43.05, a price-to-earnings-growth ratio of 2.92 and a beta of 0.61. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 1.01.

Casey’s General Stores (NASDAQ:CASY) last released 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. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The firm had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same period last year, the business earned $2.63 earnings per share. The business’s revenue was up 14.5% on a year-over-year basis. 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 business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Saturday, August 1st were given a dividend of $0.65 per share. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Friday, July 31st. This represents a $2.60 dividend on an annualized basis and a yield of 0.3%. 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.