Public Employees Retirement System of Ohio Buys New Holdings in Casey’s General Stores, Inc. $CASY

Public Employees Retirement System of Ohio purchased a new position in Casey’s General Stores, Inc. (NASDAQ:CASY) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 19,726 shares of the company’s stock, valued at approximately $15,678,000.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Casey’s General Stores in the 2nd quarter valued at $2,759,895,000. Northwestern Mutual Wealth Management Co. lifted its position 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 period. Norges Bank purchased a new stake in Casey’s General Stores in the fourth quarter valued at $265,163,000. Bank of America Corp DE purchased a new stake in Casey’s General Stores in the second quarter valued at $281,872,000. Finally, Bank of New York Mellon Corp acquired a new stake in Casey’s General Stores during the 2nd quarter worth about $281,011,000. 85.63% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Allison M. Wing sold 530 shares of the stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $837.58, for a total transaction of $443,917.40. Following the transaction, the director owned 3,042 shares in the company, valued at $2,547,918.36. This trade represents a 14.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Darren M. Rebelez sold 19,000 shares of Casey’s General Stores stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $801.46, for a total transaction of $15,227,740.00. Following the completion of the sale, the chief executive officer directly owned 89,174 shares in the company, valued at $71,469,394.04. This represents a 17.56% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 30,243 shares of company stock worth $24,421,877. Insiders own 0.67% of the company’s stock.

Casey’s General Stores Price Performance

NASDAQ:CASY opened at $755.47 on Monday. 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 52 week low of $490.00 and a 52 week high of $927.85. The stock’s 50-day moving average price is $831.92 and its 200-day moving average price is $782.18. The stock has a market capitalization of $27.96 billion, a PE ratio of 39.43, a price-to-earnings-growth ratio of 2.59 and a beta of 0.61.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share 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 return on equity of 18.73% and a net margin of 4.07%.Casey’s General Stores’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.63 EPS. As a group, equities analysts expect that Casey’s General Stores, Inc. will post 21.11 EPS for the current fiscal year.

Casey’s General Stores Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Saturday, August 1st were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, July 31st. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.57. Casey’s General Stores’s dividend payout ratio is currently 13.57%.

Analysts Set New Price Targets

CASY has been the subject of several analyst reports. Stephens set a $975.00 price objective on Casey’s General Stores and gave the company an “overweight” rating in a report on Friday, June 12th. Northcoast Research upgraded Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $950.00 price target for the company in a research report on Monday, July 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $1,000.00 price target on shares of Casey’s General Stores in a report on Monday, June 15th. The Goldman Sachs Group upped their price objective on Casey’s General Stores from $695.00 to $795.00 and gave the stock a “neutral” rating in a research report on Thursday, June 25th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $913.00 price objective on shares of Casey’s General Stores in a research note on Wednesday, July 29th. Fourteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $942.87.

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.