Point72 Asia Singapore Pte. Ltd. Takes $252,000 Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 661 shares of the company’s stock, valued at approximately $252,000.

Several other large investors have also recently bought and sold shares of CASY. Janus Henderson Group PLC raised its position in shares of Casey’s General Stores by 1.4% during the first quarter. Janus Henderson Group PLC now owns 768,060 shares of the company’s stock valued at $244,592,000 after buying an additional 10,841 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Casey’s General Stores by 3.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 468,650 shares of the company’s stock worth $178,822,000 after acquiring an additional 14,750 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of Casey’s General Stores by 20.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 458,044 shares of the company’s stock worth $174,771,000 after purchasing an additional 77,515 shares in the last quarter. Congress Asset Management Co. MA bought a new stake in shares of Casey’s General Stores during the first quarter valued at approximately $112,081,000. Finally, Principal Financial Group Inc. increased its position in shares of Casey’s General Stores by 113.0% during the first quarter. Principal Financial Group Inc. now owns 291,838 shares of the company’s stock valued at $92,936,000 after purchasing an additional 154,803 shares during the period. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Casey’s General Stores Stock Performance

Casey’s General Stores stock opened at $377.47 on Wednesday. The stock has a 50-day simple moving average of $373.72 and a 200 day simple moving average of $351.71. The stock has a market capitalization of $14.01 billion, a price-to-earnings ratio of 28.11 and a beta of 0.80. The company has a quick ratio of 0.44, a current ratio of 0.84 and a debt-to-equity ratio of 0.44. Casey’s General Stores, Inc. has a 12-month low of $260.13 and a 12-month high of $401.07.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share for the quarter, topping analysts’ consensus estimates of $4.54 by $0.29. The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.15 billion. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. The company’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the firm posted $4.52 earnings per share. On average, research analysts anticipate that Casey’s General Stores, Inc. will post 14.01 earnings per share for the current fiscal year.

Casey’s General Stores Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $2.00 annualized dividend and a yield of 0.53%. Casey’s General Stores’s dividend payout ratio is currently 14.89%.

Insider Buying and Selling at Casey’s General Stores

In related news, CEO Darren M. Rebelez sold 13,500 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $374.54, for a total value of $5,056,290.00. Following the completion of the sale, the chief executive officer now owns 73,838 shares in the company, valued at $27,655,284.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Mike Spanos bought 267 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were acquired at an average price of $376.18 per share, with a total value of $100,440.06. Following the transaction, the director now owns 2,594 shares in the company, valued at $975,810.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Darren M. Rebelez sold 13,500 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $374.54, for a total value of $5,056,290.00. Following the completion of the sale, the chief executive officer now owns 73,838 shares in the company, valued at approximately $27,655,284.52. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Evercore ISI lifted their price target on shares of Casey’s General Stores from $410.00 to $435.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Royal Bank of Canada lifted their price objective on Casey’s General Stores from $393.00 to $403.00 and gave the company a “sector perform” rating in a report on Thursday, September 5th. BMO Capital Markets increased their target price on Casey’s General Stores from $305.00 to $400.00 and gave the stock a “market perform” rating in a report on Thursday, June 13th. Melius Research assumed coverage on Casey’s General Stores in a research note on Monday, September 23rd. They issued a “buy” rating and a $435.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Casey’s General Stores from $420.00 to $444.00 and gave the company a “buy” rating in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $407.64.

Casey’s General Stores Company Profile

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.