Casey’s General Stores Inc. (CASY) Stake Raised by Retirement Systems of Alabama
Retirement Systems of Alabama increased its position in Casey’s General Stores Inc. (NASDAQ:CASY) by 126.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,273 shares of the company’s stock after buying an additional 63,919 shares during the period. Retirement Systems of Alabama owned about 0.29% of Casey’s General Stores worth $15,028,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of CASY. IFP Advisors Inc raised its position in Casey’s General Stores by 179.3% in the first quarter. IFP Advisors Inc now owns 1,271 shares of the company’s stock worth $144,000 after buying an additional 816 shares in the last quarter. Pitcairn Co. acquired a new stake in shares of Casey’s General Stores during the second quarter worth $225,000. JLB & Associates Inc. acquired a new stake in shares of Casey’s General Stores during the second quarter worth $249,000. UMB Bank N A MO acquired a new stake in shares of Casey’s General Stores during the second quarter worth $269,000. Finally, Massmutual Trust Co. FSB ADV acquired a new stake in shares of Casey’s General Stores during the first quarter worth $284,000. 83.53% of the stock is currently owned by institutional investors.
Casey’s General Stores Inc. (NASDAQ:CASY) traded up 4.40% on Friday, reaching $120.15. The company’s stock had a trading volume of 1,121,406 shares. The stock has a market cap of $4.71 billion, a PE ratio of 20.50 and a beta of 0.50. Casey’s General Stores Inc. has a 12-month low of $98.80 and a 12-month high of $136.22. The company’s 50 day moving average price is $125.65 and its 200-day moving average price is $121.37.
Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Tuesday, September 6th. The company reported $1.70 earnings per share for the quarter, missing the consensus estimate of $1.81 by $0.11. Casey’s General Stores had a return on equity of 21.62% and a net margin of 3.29%. The business earned $1.97 billion during the quarter. During the same period in the prior year, the business posted $1.57 EPS. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, equities analysts expect that Casey’s General Stores Inc. will post $5.67 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Tuesday, November 1st will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.80%. The ex-dividend date is Friday, October 28th. Casey’s General Stores’s dividend payout ratio (DPR) is currently 16.38%.
CASY has been the subject of a number of research analyst reports. Wells Fargo & Co. reiterated a “hold” rating on shares of Casey’s General Stores in a report on Thursday, September 8th. Deutsche Bank AG lowered their target price on Casey’s General Stores from $141.00 to $135.00 and set a “buy” rating for the company in a report on Monday, September 12th. Royal Bank Of Canada lifted their target price on Casey’s General Stores from $139.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, September 1st. Barclays PLC initiated coverage on Casey’s General Stores in a report on Thursday, September 22nd. They issued an “equal weight” rating and a $116.00 target price for the company. Finally, Jefferies Group boosted their price objective on Casey’s General Stores from $113.00 to $137.00 and gave the company a “hold” rating in a report on Monday, August 22nd. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Casey’s General Stores presently has an average rating of “Buy” and an average price target of $135.90.
In other Casey’s General Stores news, Director Richard A. Wilkey acquired 340 shares of the company’s stock in a transaction on Wednesday, September 21st. The stock was acquired at an average price of $117.80 per share, for a total transaction of $40,052.00. Following the acquisition, the director now owns 15,000 shares in the company, valued at approximately $1,767,000. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.30% of the stock is owned by company insiders.
About Casey’s General Stores
Casey’s General Stores, Inc and its subsidiaries, operate convenience stores under the name Casey’s General Store in approximately 10 Midwestern states, in Iowa, Missouri, and Illinois. The Company also operates approximately two stores selling primarily tobacco products. The stores carry a range of food, including freshly prepared foods such as pizza, donuts, and sandwiches, beverages, tobacco products, health and beauty aids, automotive products and other nonfood items.
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