Casey’s General Stores, Inc. (NASDAQ:CASY) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System lowered its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 2.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,921 shares of the company’s stock after selling 200 shares during the quarter. State of Michigan Retirement System’s holdings in Casey’s General Stores were worth $3,404,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Rise Advisors LLC acquired a new stake in Casey’s General Stores during the 1st quarter worth about $30,000. Park Place Capital Corp purchased a new position in Casey’s General Stores during the second quarter valued at approximately $31,000. Advisors Asset Management Inc. acquired a new position in Casey’s General Stores in the first quarter valued at approximately $32,000. V Square Quantitative Management LLC purchased a new stake in Casey’s General Stores in the 4th quarter worth approximately $35,000. Finally, Bank & Trust Co purchased a new stake in Casey’s General Stores in the 2nd quarter worth approximately $40,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on CASY. Wells Fargo & Company boosted their target price on shares of Casey’s General Stores from $340.00 to $415.00 and gave the company an “overweight” rating in a research note on Thursday, June 13th. StockNews.com lowered shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 3rd. Jefferies Financial Group lifted their price target on Casey’s General Stores from $342.00 to $445.00 and gave the company a “buy” rating in a research note on Wednesday, June 12th. 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 report on Thursday, June 13th. Finally, Northcoast Research raised Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $410.00 price objective on the stock in a report on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $410.22.

Casey’s General Stores Price Performance

Shares of Casey’s General Stores stock opened at $372.96 on Wednesday. The stock has a market capitalization of $13.84 billion, a P/E ratio of 27.77, a PEG ratio of 2.81 and a beta of 0.80. The business has a 50 day simple moving average of $375.76 and a two-hundred day simple moving average of $338.51. Casey’s General Stores, Inc. has a 12 month low of $238.44 and a 12 month high of $401.07. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.87 and a quick ratio of 0.42.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Tuesday, June 11th. The company reported $2.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.64. Casey’s General Stores had a return on equity of 17.25% and a net margin of 3.38%. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same quarter last year, the firm posted $1.49 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, analysts predict that Casey’s General Stores, Inc. will post 14 EPS for the current fiscal year.

Casey’s General Stores Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, August 1st. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.43. This represents a $2.00 dividend on an annualized basis and a yield of 0.54%. Casey’s General Stores’s payout ratio is presently 14.89%.

Casey’s General Stores 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.