Casey’s General Stores, Inc. $CASY Shares Bought by New York State Teachers Retirement System

New York State Teachers Retirement System raised its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 2.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,613 shares of the company’s stock after buying an additional 989 shares during the period. New York State Teachers Retirement System owned approximately 0.11% of Casey’s General Stores worth $28,833,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Foster Dykema Cabot & Partners LLC purchased a new position in Casey’s General Stores in the 3rd quarter valued at approximately $25,000. Central Pacific Bank Trust Division boosted its position in Casey’s General Stores by 52.8% during the fourth quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock worth $30,000 after purchasing an additional 19 shares in the last quarter. True Wealth Design LLC boosted its position in Casey’s General Stores by 350.0% during the fourth quarter. True Wealth Design LLC now owns 54 shares of the company’s stock worth $30,000 after purchasing an additional 42 shares in the last quarter. ORG Partners LLC boosted its position in Casey’s General Stores by 47.6% during the fourth quarter. ORG Partners LLC now owns 62 shares of the company’s stock worth $34,000 after purchasing an additional 20 shares in the last quarter. Finally, Vermillion & White Wealth Management Group LLC acquired a new stake in Casey’s General Stores in the third quarter valued at $35,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Chad Michael Frazell sold 3,013 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $787.49, for a total transaction of $2,372,707.37. Following the completion of the transaction, the insider owned 9,823 shares of the company’s stock, valued at $7,735,514.27. This represents a 23.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mike Spanos acquired 256 shares of the company’s stock in a transaction dated Friday, June 26th. The shares were bought at an average cost of $778.81 per share, with a total value of $199,375.36. Following the purchase, the director owned 4,758 shares in the company, valued at approximately $3,705,577.98. The trade was a 5.69% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.54% of the stock is currently owned by company insiders.

Casey’s General Stores Stock Performance

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

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.31 by $1.06. The business had revenue of $4.57 billion for 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%.The business’s revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.63 earnings per share. As a group, analysts forecast that Casey’s General Stores, Inc. will post 21.05 EPS for the current year.

Casey’s General Stores Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Saturday, August 1st will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.3%. This is a boost 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 dividend payout ratio (DPR) is currently 11.90%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CASY shares. Wolfe Research restated an “outperform” rating and issued a $1,069.00 price target on shares of Casey’s General Stores in a research report on Thursday, June 11th. KeyCorp boosted their price objective on shares of Casey’s General Stores from $950.00 to $970.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. Evercore reissued an “outperform” rating and issued a $990.00 price objective on shares of Casey’s General Stores in a research note on Friday, June 12th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,000.00 target price on shares of Casey’s General Stores in a report on Monday, June 15th. Finally, Wall Street Zen upgraded shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Thirteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $939.29.

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.