Casey’s General Stores, Inc. $CASY Shares Acquired by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky increased its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 52.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 17,079 shares of the company’s stock after purchasing an additional 5,846 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Casey’s General Stores were worth $12,431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. increased its stake in Casey’s General Stores by 179,938.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,659,164 shares of the company’s stock valued at $1,469,747,000 after purchasing an additional 2,657,687 shares during the last quarter. Norges Bank acquired a new stake in shares of Casey’s General Stores during the fourth quarter worth $265,163,000. Franklin Resources Inc. lifted its position in shares of Casey’s General Stores by 40.9% in the 4th quarter. Franklin Resources Inc. now owns 1,068,682 shares of the company’s stock worth $590,671,000 after buying an additional 310,470 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Casey’s General Stores by 175.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 471,536 shares of the company’s stock valued at $260,622,000 after buying an additional 300,249 shares during the period. Finally, Corient Private Wealth LLC boosted its holdings in shares of Casey’s General Stores by 115.9% in the 4th quarter. Corient Private Wealth LLC now owns 423,666 shares of the company’s stock valued at $234,164,000 after buying an additional 227,403 shares during the period. Institutional investors and hedge funds own 85.63% of the company’s stock.

Insider Activity at Casey’s General Stores

In related news, insider Chad Michael Frazell sold 3,013 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $787.49, for a total value of $2,372,707.37. Following the sale, the insider directly owned 9,823 shares in the company, valued at $7,735,514.27. This trade represents a 23.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Darren M. Rebelez sold 19,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $801.46, for a total value of $15,227,740.00. Following the completion of the sale, the chief executive officer owned 89,174 shares in the company, valued at approximately $71,469,394.04. This represents a 17.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 30,243 shares of company stock valued at $24,421,877. Company insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Casey’s General Stores from $719.00 to $975.00 and gave the company a “neutral” rating in a research report on Friday, June 12th. Evercore restated an “outperform” rating and issued a $990.00 target price on shares of Casey’s General Stores in a research note on Friday, June 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $1,000.00 target price on shares of Casey’s General Stores in a report on Monday, June 15th. Zacks Research cut Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. Finally, Wells Fargo & Company raised their price target on Casey’s General Stores from $910.00 to $960.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. Fourteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $940.00.

Casey’s General Stores Stock Up 4.8%

CASY stock opened at $859.10 on Tuesday. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. Casey’s General Stores, Inc. has a fifty-two week low of $490.00 and a fifty-two week high of $927.85. The firm’s 50-day simple moving average is $824.34 and its 200 day simple moving average is $725.27. The stock has a market cap of $31.80 billion, a PE ratio of 44.84, a price-to-earnings-growth ratio of 2.46 and a beta of 0.62.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, beating the consensus estimate of $3.31 by $1.06. The firm had revenue of $4.57 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 14.5% compared to the same quarter last year. During the same period last year, the firm posted $2.63 EPS. As a group, sell-side analysts predict 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. Stockholders of record on Saturday, August 1st will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.3%. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, July 31st. Casey’s General Stores’s dividend payout ratio is presently 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.