Meeder Asset Management Inc. Acquires 12,420 Shares of Casey’s General Stores, Inc. $CASY

Meeder Asset Management Inc. raised its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 207,000.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,426 shares of the company’s stock after buying an additional 12,420 shares during the quarter. Meeder Asset Management Inc.’s holdings in Casey’s General Stores were worth $9,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. NewEdge Advisors LLC increased its holdings in Casey’s General Stores by 6.4% in the 1st quarter. NewEdge Advisors LLC now owns 1,871 shares of the company’s stock valued at $812,000 after acquiring an additional 113 shares during the last quarter. Geneos Wealth Management Inc. grew 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 in the last quarter. EverSource Wealth Advisors LLC increased its holdings 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 worth $111,000 after purchasing an additional 177 shares during the last quarter. Amundi purchased a new stake in shares of Casey’s General Stores in the second quarter worth about $338,000. Finally, Jump Financial LLC lifted its position in shares of 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 buying an additional 289 shares in the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Insider Activity

In other news, Director Allison M. Wing sold 530 shares of Casey’s General Stores stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $837.58, for a total transaction of $443,917.40. Following the completion of the sale, the director directly owned 3,042 shares in the company, valued at approximately $2,547,918.36. This trade represents a 14.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the business’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $838.16, for a total transaction of $4,777,512.00. Following the sale, the chief financial officer directly owned 29,677 shares of the company’s stock, valued at $24,874,074.32. This represents a 16.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 30,243 shares of company stock worth $24,421,877 in the last three months. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

CASY has been the subject of several research analyst reports. Wells Fargo & Company raised their price target on Casey’s General Stores from $910.00 to $960.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $1,000.00 price objective on shares of Casey’s General Stores in a report on Monday, June 15th. Weiss Ratings raised shares of Casey’s General Stores from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday, July 8th. Zacks Research cut shares of Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. Finally, JPMorgan Chase & Co. upped their price target on shares of Casey’s General Stores from $719.00 to $975.00 and gave the company a “neutral” rating in a research note on Friday, June 12th. Fourteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Casey’s General Stores currently has a consensus rating of “Moderate Buy” and a consensus price target of $940.00.

Casey’s General Stores Price Performance

Casey’s General Stores stock opened at $859.12 on Monday. Casey’s General Stores, Inc. has a 12-month low of $490.00 and a 12-month high of $927.85. The company has a current ratio of 1.01, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. The firm has a 50-day moving average price of $822.56 and a 200-day moving average price of $732.81. The firm has a market capitalization of $31.80 billion, a PE ratio of 44.84, a price-to-earnings-growth ratio of 2.58 and a beta of 0.62.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 4.07% and a return on equity of 18.73%. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.63 EPS. As a group, equities research analysts forecast that Casey’s General Stores, Inc. will post 21.14 EPS for the current year.

Casey’s General Stores Increases Dividend

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

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.