Public Employees Retirement System of Ohio Reduces Holdings in Casey’s General Stores, Inc. $CASY

Public Employees Retirement System of Ohio reduced its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 1.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,467 shares of the company’s stock after selling 211 shares during the period. Public Employees Retirement System of Ohio’s holdings in Casey’s General Stores were worth $6,872,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Flagship Harbor Advisors LLC lifted its position in Casey’s General Stores by 4.1% during the first quarter. Flagship Harbor Advisors LLC now owns 590 shares of the company’s stock valued at $256,000 after purchasing an additional 23 shares in the last quarter. Sunbelt Securities Inc. raised its stake in shares of Casey’s General Stores by 1.4% in the first quarter. Sunbelt Securities Inc. now owns 1,870 shares of the company’s stock worth $812,000 after buying an additional 26 shares during the period. Iron Horse Wealth Management LLC raised its stake in shares of Casey’s General Stores by 40.0% in the first quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company’s stock worth $40,000 after buying an additional 26 shares during the period. Menard Financial Group LLC lifted its position in shares of Casey’s General Stores by 2.1% during the 1st quarter. Menard Financial Group LLC now owns 1,290 shares of the company’s stock valued at $603,000 after buying an additional 27 shares in the last quarter. Finally, Accurate Wealth Management LLC grew its stake in shares of Casey’s General Stores by 3.9% during the 2nd quarter. Accurate Wealth Management LLC now owns 727 shares of the company’s stock valued at $381,000 after acquiring an additional 27 shares during the period. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on CASY. Wells Fargo & Company raised their target price on shares of Casey’s General Stores from $540.00 to $580.00 and gave the stock an “overweight” rating in a research note on Monday, September 8th. Stephens reissued an “overweight” rating and issued a $530.00 price objective on shares of Casey’s General Stores in a research note on Tuesday, September 9th. BMO Capital Markets raised their price objective on shares of Casey’s General Stores from $515.00 to $540.00 and gave the company a “market perform” rating in a research report on Wednesday, September 10th. Jefferies Financial Group upped their target price on shares of Casey’s General Stores from $575.00 to $600.00 and gave the stock a “buy” rating in a report on Tuesday, September 9th. Finally, The Goldman Sachs Group increased their price target on Casey’s General Stores from $450.00 to $490.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 10th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $529.10.

Casey’s General Stores Stock Performance

CASY opened at $547.54 on Monday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.61 and a current ratio of 1.03. The stock has a market capitalization of $20.36 billion, a price-to-earnings ratio of 35.14 and a beta of 0.66. The company has a fifty day moving average of $522.50 and a 200 day moving average of $483.52. Casey’s General Stores, Inc. has a fifty-two week low of $363.00 and a fifty-two week high of $571.57.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Monday, September 8th. The company reported $5.77 EPS for the quarter, beating the consensus estimate of $5.02 by $0.75. The business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.47 billion. Casey’s General Stores had a net margin of 3.54% and a return on equity of 16.73%. The business’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.83 EPS. As a group, sell-side analysts forecast that Casey’s General Stores, Inc. will post 13.94 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 Friday, November 14th. Shareholders of record on Saturday, November 1st will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, October 31st. Casey’s General Stores’s dividend payout ratio (DPR) is currently 14.63%.

Insider Transactions at Casey’s General Stores

In other news, CFO Stephen P. Bramlage, Jr. sold 760 shares of the company’s stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $507.56, for a total transaction of $385,745.60. Following the sale, the chief financial officer directly owned 25,994 shares of the company’s stock, valued at $13,193,514.64. This represents a 2.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.54% of the stock is currently owned by insiders.

Casey’s General Stores Company Profile

Casey’s General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.