Resona Asset Management Co. Ltd. Has $8.25 Million Stock Holdings in Casey’s General Stores, Inc. $CASY

Resona Asset Management Co. Ltd. grew its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 2,044.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,388 shares of the company’s stock after acquiring an additional 10,857 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Casey’s General Stores were worth $8,252,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CASY. Northwestern Mutual Wealth Management Co. lifted its stake 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 valued at $1,469,747,000 after purchasing an additional 2,657,687 shares during the last quarter. Norges Bank acquired a new position in Casey’s General Stores during the fourth quarter worth $265,163,000. Franklin Resources Inc. increased its position in Casey’s General Stores by 40.9% during 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. Goldman Sachs Group Inc. raised its holdings in Casey’s General Stores by 175.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 471,536 shares of the company’s stock valued at $260,622,000 after buying an additional 300,249 shares in the last quarter. Finally, Corient Private Wealth LLC raised its holdings in Casey’s General Stores by 115.9% during the fourth quarter. Corient Private Wealth LLC now owns 423,666 shares of the company’s stock valued at $234,164,000 after buying an additional 227,403 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Stock Performance

CASY stock traded down $2.17 during mid-day trading on Friday, reaching $819.83. 272,113 shares of the stock traded hands, compared to its average volume of 558,474. The firm has a market capitalization of $30.34 billion, a PE ratio of 42.79, a P/E/G ratio of 2.46 and a beta of 0.62. The business has a 50-day moving average of $823.60 and a two-hundred day moving average of $722.17. Casey’s General Stores, Inc. has a 52 week low of $490.00 and a 52 week 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 posted its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, topping 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 business had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same period in the previous year, the company posted $2.63 earnings per share. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, equities analysts predict that Casey’s General Stores, Inc. will post 21.14 EPS for the current fiscal year.

Casey’s General Stores Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Saturday, August 1st will be given a $0.65 dividend. 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 dividend payout ratio (DPR) is presently 11.90%.

Wall Street Analysts Forecast Growth

CASY has been the subject of several recent analyst reports. Wells Fargo & Company upped their price target on Casey’s General Stores from $910.00 to $960.00 and gave the stock an “overweight” rating in a research note on Thursday, June 11th. Capital One Financial started coverage on Casey’s General Stores in a research note on Monday, June 22nd. They issued an “equal weight” rating and a $896.00 price objective on the stock. Evercore restated an “outperform” rating and issued a $990.00 target price on shares of Casey’s General Stores in a report on Friday, June 12th. Royal Bank Of Canada upped their target price on Casey’s General Stores from $794.00 to $850.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 25th. Finally, BNP Paribas Exane lowered their price target on Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating on the stock in a report on Thursday, June 25th. Thirteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $939.29.

Casey’s General Stores News Summary

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

Insider Buying and Selling

In other news, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the company’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $838.16, for a total transaction of $4,777,512.00. Following the completion of the transaction, the chief financial officer directly owned 29,677 shares in the company, valued at $24,874,074.32. The trade was a 16.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Allison M. Wing sold 530 shares of the stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $837.58, for a total value of $443,917.40. Following the completion of the sale, the director directly owned 3,042 shares of the company’s stock, valued at $2,547,918.36. This represents a 14.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 30,243 shares of company stock worth $24,421,877. 0.54% of the stock is currently owned by company insiders.

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.