Arizona State Retirement System Holds Stake in Casey’s General Stores Inc. (CASY)
Arizona State Retirement System continued to hold its position in shares of Casey’s General Stores Inc. (NASDAQ:CASY) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,410 shares of the company’s stock at the end of the third quarter. Arizona State Retirement System’s holdings in Casey’s General Stores were worth $1,972,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of CASY. Renaissance Technologies LLC purchased a new stake in shares of Casey’s General Stores during the first quarter valued at $16,292,000. Envestnet Asset Management Inc. increased its stake in shares of Casey’s General Stores by 14.4% in the first quarter. Envestnet Asset Management Inc. now owns 10,428 shares of the company’s stock valued at $1,182,000 after buying an additional 1,314 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of Casey’s General Stores during the first quarter valued at $1,511,000. First Republic Investment Management Inc. purchased a new stake in shares of Casey’s General Stores during the first quarter valued at $838,000. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Casey’s General Stores by 1,658.8% in the second quarter. BNP Paribas Arbitrage SA now owns 19,400 shares of the company’s stock valued at $2,551,000 after buying an additional 18,297 shares during the period. 87.07% of the stock is currently owned by institutional investors.
Shares of Casey’s General Stores Inc. (NASDAQ:CASY) traded down 0.37% on Tuesday, hitting $122.56. 325,263 shares of the company traded hands. The company has a market capitalization of $4.80 billion, a PE ratio of 20.91 and a beta of 0.41. The stock’s 50-day moving average price is $117.10 and its 200-day moving average price is $123.19. Casey’s General Stores Inc. has a 12 month low of $98.80 and a 12 month high of $136.22.
Casey’s General Stores (NASDAQ:CASY) last issued its earnings results on Tuesday, September 6th. The company reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by $0.11. Casey’s General Stores had a net margin of 3.29% and a return on equity of 21.62%. The company earned $1.97 billion during the quarter. During the same period last year, the firm posted $1.57 EPS. The company’s quarterly revenue was down 3.8% on a year-over-year basis. On average, equities analysts predict that Casey’s General Stores Inc. will post $5.58 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 1st were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend was Friday, October 28th. Casey’s General Stores’s payout ratio is 16.38%.
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CASY has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of Casey’s General Stores from a “hold” rating to a “sell” rating in a research note on Wednesday, October 19th. RBC Capital Markets restated an “outperform” rating and issued a $145.00 target price (up from $139.00) on shares of Casey’s General Stores in a research note on Saturday, September 3rd. Barclays PLC started coverage on shares of Casey’s General Stores in a research note on Thursday, September 22nd. They issued an “equal weight” rating and a $116.00 target price for the company. Wells Fargo & Co. reiterated a “hold” rating on shares of Casey’s General Stores in a research note on Thursday, September 8th. Finally, Deutsche Bank AG lifted their price objective on shares of Casey’s General Stores from $130.00 to $141.00 and gave the stock a “buy” rating in a research note on Friday, August 19th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Casey’s General Stores presently has an average rating of “Buy” and an average price target of $135.30.
In related news, Director Richard A. Wilkey bought 340 shares of the stock in a transaction dated 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.30% of the stock is currently owned by insiders.
Casey’s General Stores Company Profile
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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