California Public Employees Retirement System Trims Stock Holdings in Casey’s General Stores, Inc. $CASY

California Public Employees Retirement System reduced its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 8.7% in the first quarter, Holdings Channel.com reports. The fund owned 82,253 shares of the company’s stock after selling 7,884 shares during the quarter. California Public Employees Retirement System’s holdings in Casey’s General Stores were worth $59,869,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Central Pacific Bank Trust Division lifted its position in shares of Casey’s General Stores by 52.8% during the fourth quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock worth $30,000 after purchasing an additional 19 shares during the last quarter. True Wealth Design LLC increased its stake in Casey’s General Stores by 350.0% in the 4th quarter. True Wealth Design LLC now owns 54 shares of the company’s stock worth $30,000 after buying an additional 42 shares during the period. Whipplewood Advisors LLC bought a new stake in Casey’s General Stores during the 1st quarter valued at about $33,000. ORG Partners LLC boosted its position in Casey’s General Stores by 47.6% in the 4th quarter. ORG Partners LLC now owns 62 shares of the company’s stock valued at $34,000 after buying an additional 20 shares during the period. Finally, Larson Financial Group LLC grew its stake in Casey’s General Stores by 252.4% in the 4th quarter. Larson Financial Group LLC now owns 74 shares of the company’s stock worth $41,000 after acquiring an additional 53 shares in the last quarter. Institutional investors own 85.63% of the company’s stock.

Analyst Ratings Changes

CASY has been the subject of several research analyst reports. BNP Paribas Exane decreased their price target 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. Stephens set a $975.00 price objective on shares of Casey’s General Stores and gave the stock an “overweight” rating in a research note on Friday, June 12th. JPMorgan Chase & Co. upped their price target on shares of Casey’s General Stores from $719.00 to $975.00 and gave the stock a “neutral” rating in a research report on Friday, June 12th. Capital One Financial started coverage on shares of Casey’s General Stores in a research note on Monday, June 22nd. They issued an “equal weight” rating and a $896.00 price objective for the company. Finally, BMO Capital Markets upgraded Casey’s General Stores from a “market perform” rating to an “outperform” rating and set a $950.00 price target on the stock in a report on Monday, June 29th. Fourteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $940.00.

Casey’s General Stores Stock Performance

Shares of NASDAQ:CASY opened at $859.12 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60. The firm has a market capitalization of $31.80 billion, a P/E ratio of 44.84, a P/E/G ratio of 2.58 and a beta of 0.62. The business’s 50-day moving average is $822.56 and its 200 day moving average is $732.81. Casey’s General Stores, Inc. has a 1 year low of $490.00 and a 1 year high of $927.85.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $1.06. The company had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.33 billion. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. Casey’s General Stores’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period last year, the business earned $2.63 EPS. On average, research analysts predict that Casey’s General Stores, Inc. will post 21.14 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

The company 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 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 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 payout ratio is presently 11.90%.

Insider Activity at Casey’s General Stores

In other Casey’s General Stores news, CEO Darren M. Rebelez sold 19,000 shares of the business’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $801.46, for a total transaction of $15,227,740.00. Following the sale, the chief executive officer owned 89,174 shares in the company, valued at approximately $71,469,394.04. The trade was a 17.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chad Michael Frazell sold 3,013 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $787.49, for a total value of $2,372,707.37. Following the completion of the transaction, the insider directly owned 9,823 shares in the company, valued at $7,735,514.27. This represents a 23.47% decrease in their ownership of the stock. 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 in the last quarter. 0.54% of the stock is owned by 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.