State Board of Administration of Florida Retirement System Decreases Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

State Board of Administration of Florida Retirement System lowered its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASYFree Report) by 1.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 39,021 shares of the company’s stock after selling 650 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Casey’s General Stores were worth $10,595,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in CASY. Morgan Stanley increased its holdings in Casey’s General Stores by 430.5% during the fourth quarter. Morgan Stanley now owns 1,141,475 shares of the company’s stock valued at $256,090,000 after buying an additional 926,324 shares during the last quarter. National Bank of Canada FI increased its holdings in Casey’s General Stores by 1,277.4% during the third quarter. National Bank of Canada FI now owns 454,284 shares of the company’s stock valued at $122,067,000 after buying an additional 421,302 shares during the last quarter. Norges Bank purchased a new stake in Casey’s General Stores during the fourth quarter valued at approximately $82,961,000. Virginia Retirement Systems ET AL purchased a new stake in Casey’s General Stores during the second quarter valued at approximately $56,800,000. Finally, Goldman Sachs Group Inc. increased its holdings in Casey’s General Stores by 152.8% during the first quarter. Goldman Sachs Group Inc. now owns 384,281 shares of the company’s stock valued at $76,153,000 after buying an additional 232,277 shares during the last quarter. 85.43% of the stock is owned by hedge funds and other institutional investors.

Casey’s General Stores Stock Down 0.5 %

CASY stock opened at $285.07 on Tuesday. The firm has a 50 day moving average of $278.10 and a 200 day moving average of $269.24. The stock has a market capitalization of $10.58 billion, a PE ratio of 22.06, a price-to-earnings-growth ratio of 2.14 and a beta of 0.81. The company has a quick ratio of 0.62, a current ratio of 1.06 and a debt-to-equity ratio of 0.55. Casey’s General Stores, Inc. has a 52 week low of $202.13 and a 52 week high of $291.51.

Casey’s General Stores (NASDAQ:CASYGet Free Report) last released its earnings results on Tuesday, December 12th. The company reported $4.24 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.44. Casey’s General Stores had a net margin of 3.32% and a return on equity of 17.28%. The company had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $4.06 billion. During the same period last year, the business earned $3.67 EPS. Casey’s General Stores’s revenue for the quarter was up 2.2% on a year-over-year basis. Sell-side analysts forecast that Casey’s General Stores, Inc. will post 12.64 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend is Wednesday, January 31st. Casey’s General Stores’s dividend payout ratio (DPR) is 13.31%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CASY. Royal Bank of Canada upped their target price on shares of Casey’s General Stores from $291.00 to $296.00 and gave the company a “sector perform” rating in a report on Tuesday, December 12th. StockNews.com cut shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 7th. BMO Capital Markets cut shares of Casey’s General Stores from an “outperform” rating to a “market perform” rating and set a $290.00 price objective for the company. in a research note on Friday, December 8th. Benchmark reiterated a “buy” rating and set a $312.00 price objective on shares of Casey’s General Stores in a research report on Wednesday, January 17th. Finally, Stephens raised their price target on shares of Casey’s General Stores from $305.00 to $340.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 13th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $285.22.

Read Our Latest Stock Report on Casey’s General Stores

Insider Activity at Casey’s General Stores

In related news, Director Mike Spanos bought 725 shares of the stock in a transaction on Wednesday, January 3rd. The stock was bought at an average price of $275.43 per share, with a total value of $199,686.75. Following the completion of the purchase, the director now directly owns 1,791 shares in the company, valued at approximately $493,295.13. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Casey’s General Stores news, Director Mike Spanos purchased 725 shares of Casey’s General Stores stock in a transaction dated Wednesday, January 3rd. The shares were acquired at an average price of $275.43 per share, with a total value of $199,686.75. Following the completion of the transaction, the director now owns 1,791 shares of the company’s stock, valued at $493,295.13. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Thomas P. Brennan, Jr. sold 1,430 shares of the stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $276.11, for a total transaction of $394,837.30. Following the sale, the insider now directly owns 7,375 shares in the company, valued at approximately $2,036,311.25. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by insiders.

Casey’s General Stores Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding CASY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Casey’s General Stores, Inc. (NASDAQ:CASYFree Report).

Institutional Ownership by Quarter for Casey's General Stores (NASDAQ:CASY)

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