Retirement Systems of Alabama Decreases Stock Holdings in Casey’s General Stores, Inc. (NASDAQ:CASY)

Retirement Systems of Alabama reduced its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 0.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 70,081 shares of the company’s stock after selling 607 shares during the quarter. Retirement Systems of Alabama’s holdings in Casey’s General Stores were worth $26,330,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CASY. Oddo BHF Asset Management Sas purchased a new stake in shares of Casey’s General Stores during the 3rd quarter valued at $899,000. Franklin Resources Inc. grew its position in Casey’s General Stores by 49.9% during the third quarter. Franklin Resources Inc. now owns 524,237 shares of the company’s stock valued at $204,861,000 after buying an additional 174,586 shares during the period. Synovus Financial Corp increased its holdings in Casey’s General Stores by 74.4% during the third quarter. Synovus Financial Corp now owns 16,595 shares of the company’s stock worth $6,235,000 after buying an additional 7,078 shares during the last quarter. Sanctuary Advisors LLC raised its position in Casey’s General Stores by 10.5% in the third quarter. Sanctuary Advisors LLC now owns 5,514 shares of the company’s stock worth $2,072,000 after acquiring an additional 523 shares during the period. Finally, Sunbelt Securities Inc. boosted its stake in Casey’s General Stores by 6.0% in the third quarter. Sunbelt Securities Inc. now owns 1,960 shares of the company’s stock valued at $736,000 after acquiring an additional 111 shares during the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Insider Buying and Selling

In other Casey’s General Stores news, Director Mike Spanos purchased 267 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was acquired at an average cost of $376.18 per share, for a total transaction of $100,440.06. Following the completion of the transaction, the director now directly owns 2,594 shares in the company, valued at approximately $975,810.92. This represents a 11.47 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Katrina S. Lindsey sold 450 shares of Casey’s General Stores stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $427.13, for a total value of $192,208.50. Following the completion of the transaction, the insider now directly owns 2,247 shares in the company, valued at $959,761.11. This trade represents a 16.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CASY. Deutsche Bank Aktiengesellschaft raised their price target on shares of Casey’s General Stores from $451.00 to $454.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Melius Research started coverage on Casey’s General Stores in a research report on Monday, September 23rd. They issued a “buy” rating and a $435.00 target price for the company. Evercore ISI boosted their target price on Casey’s General Stores from $460.00 to $470.00 and gave the company an “outperform” rating in a research note on Friday. JPMorgan Chase & Co. downgraded Casey’s General Stores from a “neutral” rating to an “underweight” rating and increased their price target for the stock from $300.00 to $337.00 in a research note on Thursday, September 19th. Finally, Gordon Haskett began coverage on Casey’s General Stores in a report on Monday, November 4th. They issued a “hold” rating and a $400.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Casey’s General Stores currently has a consensus rating of “Moderate Buy” and a consensus price target of $419.45.

Casey’s General Stores Stock Down 0.1 %

Shares of NASDAQ CASY opened at $425.27 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. The company has a market cap of $15.79 billion, a P/E ratio of 29.64 and a beta of 0.80. Casey’s General Stores, Inc. has a 52 week low of $266.58 and a 52 week high of $439.68. The business has a 50-day simple moving average of $405.04 and a two-hundred day simple moving average of $381.40.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Monday, December 9th. The company reported $4.85 EPS for the quarter, beating the consensus estimate of $4.29 by $0.56. The company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $4.03 billion. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. Casey’s General Stores’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.24 earnings per share. Research analysts anticipate that Casey’s General Stores, Inc. will post 14.28 earnings per share for the current fiscal year.

Casey’s General Stores Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 17th. Stockholders of record on Monday, February 3rd will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.00 annualized dividend and a dividend yield of 0.47%. Casey’s General Stores’s payout ratio is currently 13.94%.

About Casey’s General Stores

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.