New York State Teachers Retirement System Raises Holdings in Casey’s General Stores, Inc. $CASY

New York State Teachers Retirement System boosted its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 2.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,613 shares of the company’s stock after acquiring an additional 989 shares during the quarter. New York State Teachers Retirement System’s holdings in Casey’s General Stores were worth $28,833,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. 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 worth $1,469,747,000 after acquiring an additional 2,657,687 shares during the last quarter. Franklin Resources Inc. raised its holdings 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 purchasing an additional 310,470 shares during the period. Geode Capital Management LLC lifted its stake in shares of Casey’s General Stores by 7.4% in the 4th quarter. Geode Capital Management LLC now owns 760,438 shares of the company’s stock valued at $420,416,000 after purchasing an additional 52,250 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Casey’s General Stores by 12.6% in the 4th quarter. Invesco Ltd. now owns 572,152 shares of the company’s stock valued at $316,234,000 after purchasing an additional 64,154 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Casey’s General Stores during the 4th quarter worth about $265,163,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Stock Performance

Casey’s General Stores stock opened at $797.42 on Friday. Casey’s General Stores, Inc. has a 12-month low of $490.00 and a 12-month high of $927.85. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60. The company has a market capitalization of $29.51 billion, a price-to-earnings ratio of 41.62, a price-to-earnings-growth ratio of 2.40 and a beta of 0.62. The firm’s fifty day moving average price is $820.92 and its 200 day moving average price is $712.84.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, beating 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 net margin of 4.07% and a return on equity of 18.73%. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.63 EPS. On average, research analysts forecast that Casey’s General Stores, Inc. will post 21.05 EPS for the current fiscal year.

Casey’s General Stores Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Saturday, August 1st will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.3%. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, July 31st. Casey’s General Stores’s payout ratio is presently 11.90%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CASY. William Blair began coverage on shares of Casey’s General Stores in a research report on Wednesday, May 20th. They set an “outperform” rating for the company. BNP Paribas Exane reduced their price target on shares of Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating on the stock in a research report on Thursday, June 25th. UBS Group boosted their price objective on shares of Casey’s General Stores from $805.00 to $945.00 and gave the stock a “neutral” rating in a research note on Thursday, June 11th. Stephens set a $975.00 price objective on shares of Casey’s General Stores and gave the stock an “overweight” rating in a research report on Friday, June 12th. Finally, Zacks Research downgraded shares of Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. Thirteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $939.29.

Insider Activity at Casey’s General Stores

In related news, insider Chad Michael Frazell sold 3,013 shares of the stock in a transaction dated 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 completion of the transaction, the insider owned 9,823 shares of the company’s stock, valued at approximately $7,735,514.27. This represents a 23.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Katrina S. Lindsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $800.00, for a total value of $1,600,000.00. Following the sale, the insider owned 6,668 shares of the company’s stock, valued at approximately $5,334,400. This trade represents a 23.07% decrease in their position. The SEC filing for this sale provides additional information. 0.54% of the stock is currently owned by company insiders.

Casey’s General Stores 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.