Texas Permanent School Fund Corp Trims Stock Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

Texas Permanent School Fund Corp cut its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 1.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,117 shares of the company’s stock after selling 360 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.09% of Casey’s General Stores worth $12,255,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Janus Henderson Group PLC increased its holdings in 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 period. Norges Bank bought a new position in Casey’s General Stores in the fourth quarter worth approximately $115,799,000. Congress Asset Management Co. MA bought a new position in Casey’s General Stores in the first quarter worth approximately $112,081,000. Principal Financial Group Inc. raised its stake in Casey’s General Stores by 113.0% in the first quarter. Principal Financial Group Inc. now owns 291,838 shares of the company’s stock worth $92,936,000 after buying an additional 154,803 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its stake in Casey’s General Stores by 561.7% in the fourth quarter. Point72 Asset Management L.P. now owns 273,168 shares of the company’s stock worth $75,050,000 after buying an additional 231,887 shares in the last quarter. 85.63% of the stock is owned by hedge funds and other institutional investors.

Casey’s General Stores Price Performance

Shares of CASY opened at $366.97 on Tuesday. The firm has a market capitalization of $13.62 billion, a PE ratio of 27.32, a price-to-earnings-growth ratio of 2.71 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.84 and a quick ratio of 0.44. Casey’s General Stores, Inc. has a 1-year low of $238.44 and a 1-year high of $401.07. The company’s fifty day moving average price is $373.37 and its 200-day moving average price is $343.44.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, beating the consensus estimate of $4.54 by $0.29. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. The company had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period in the prior year, the company earned $4.52 earnings per share. The firm’s revenue was up 5.9% on a year-over-year basis. On average, equities research analysts predict that Casey’s General Stores, Inc. will post 13.45 EPS for the current year.

Casey’s General Stores Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Friday, November 1st. Casey’s General Stores’s payout ratio is 14.89%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CASY shares. JPMorgan Chase & Co. boosted their price objective on shares of Casey’s General Stores from $298.00 to $300.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Wells Fargo & Company boosted their price objective on shares of Casey’s General Stores from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Friday. BMO Capital Markets upped their price target on Casey’s General Stores from $305.00 to $400.00 and gave the stock a “market perform” rating in a research report on Thursday, June 13th. Deutsche Bank Aktiengesellschaft upped their price target on Casey’s General Stores from $420.00 to $444.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, Benchmark reaffirmed a “buy” rating and set a $410.00 price target on shares of Casey’s General Stores in a research report on Tuesday, September 3rd. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $401.20.

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.