Korea Investment CORP Purchases New Shares in Casey’s General Stores, Inc. $CASY

Korea Investment CORP bought a new position in Casey’s General Stores, Inc. (NASDAQ:CASY) in the 2nd quarter, Holdings Channel reports. The firm bought 52,185 shares of the company’s stock, valued at approximately $41,476,000.

A number of other large investors have also recently made changes to their positions in the company. Bell Investment Advisors Inc bought a new stake in Casey’s General Stores in the second quarter worth about $33,000. Whipplewood Advisors LLC bought a new position in shares of Casey’s General Stores during the first quarter valued at approximately $33,000. RMG Wealth Management LLC raised its holdings in shares of Casey’s General Stores by 250.0% in the first quarter. RMG Wealth Management LLC now owns 56 shares of the company’s stock worth $41,000 after buying an additional 40 shares during the period. Johnson Financial Group Inc. purchased a new stake in shares of Casey’s General Stores in the second quarter worth approximately $55,000. Finally, Western Pacific Wealth Management LP bought a new stake in shares of Casey’s General Stores during the 1st quarter worth approximately $52,000. 85.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CASY. BNP Paribas Exane lowered their target price on shares of Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating for the company in a research note on Thursday, June 25th. Morgan Stanley raised shares of Casey’s General Stores to a “buy” rating in a research note on Wednesday, June 10th. Stephens set a $975.00 price objective on shares of Casey’s General Stores and gave the company an “overweight” rating in a report on Friday, June 12th. Weiss Ratings cut shares of Casey’s General Stores from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, July 21st. Finally, William Blair began coverage on shares of Casey’s General Stores in a research note on Wednesday, May 20th. They issued an “outperform” rating on the stock. Fourteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $944.20.

Insider Buying and Selling

In other news, insider Katrina S. Lindsey sold 2,000 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $800.00, for a total value of $1,600,000.00. Following the sale, the insider owned 6,668 shares in the company, valued at $5,334,400. This represents a 23.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of Casey’s General Stores stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $838.16, for a total value of $4,777,512.00. Following the transaction, the chief financial officer owned 29,677 shares of the company’s stock, valued at $24,874,074.32. The trade was a 16.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 30,243 shares of company stock worth $24,421,877 over the last three months. Corporate insiders own 0.67% of the company’s stock.

Casey’s General Stores Trading Up 0.9%

CASY opened at $835.74 on Friday. 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 market cap of $30.93 billion, a price-to-earnings ratio of 43.62, a PEG ratio of 2.86 and a beta of 0.61. Casey’s General Stores, Inc. has a 12 month low of $490.00 and a 12 month high of $927.85. The stock has a fifty day moving average price of $837.28 and a 200-day moving average price of $775.89.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.33 billion. During the same period last year, the business earned $2.63 EPS. The company’s revenue was up 14.5% compared to the same quarter last year. As a group, 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 company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Saturday, August 1st were given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, July 31st. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.57. Casey’s General Stores’s payout ratio is currently 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.