Casey’s General Stores, Inc. (NASDAQ:CASY) Stock Position Decreased by Pensioenfonds Rail & OV

Pensioenfonds Rail & OV decreased its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 0.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 123,383 shares of the company’s stock after selling 487 shares during the period. Casey’s General Stores accounts for about 3.5% of Pensioenfonds Rail & OV’s investment portfolio, making the stock its 4th largest position. Pensioenfonds Rail & OV owned about 0.33% of Casey’s General Stores worth $47,078,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CASY. Congress Asset Management Co. MA purchased a new position in shares of Casey’s General Stores during the first quarter valued at about $112,081,000. Point72 Asset Management L.P. increased its stake in Casey’s General Stores by 561.7% in the 4th quarter. Point72 Asset Management L.P. now owns 273,168 shares of the company’s stock worth $75,050,000 after acquiring an additional 231,887 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Casey’s General Stores by 3,846.1% during the 2nd quarter. Millennium Management LLC now owns 172,320 shares of the company’s stock worth $65,750,000 after acquiring an additional 176,920 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Casey’s General Stores by 113.0% during the 1st quarter. Principal Financial Group Inc. now owns 291,838 shares of the company’s stock valued at $92,936,000 after acquiring an additional 154,803 shares during the last quarter. Finally, DAVENPORT & Co LLC increased its position in Casey’s General Stores by 11,242.6% in the first quarter. DAVENPORT & Co LLC now owns 107,641 shares of the company’s stock worth $34,284,000 after purchasing an additional 106,692 shares during the last quarter. 85.63% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Mike Spanos bought 267 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were purchased at an average cost of $376.18 per share, with a total value of $100,440.06. Following the transaction, the director now directly owns 2,594 shares in the company, valued at $975,810.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Mike Spanos purchased 267 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were bought at an average cost of $376.18 per share, with a total value of $100,440.06. Following the transaction, the director now owns 2,594 shares of the company’s stock, valued at $975,810.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas P. Brennan, Jr. sold 3,000 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $380.24, for a total value of $1,140,720.00. Following the completion of the transaction, the insider now directly owns 9,044 shares of the company’s stock, valued at approximately $3,438,890.56. The disclosure for this sale can be found here. 0.47% of the stock is owned by company insiders.

Casey’s General Stores Price Performance

CASY opened at $377.47 on Wednesday. The firm has a market capitalization of $14.01 billion, a PE ratio of 28.11 and a beta of 0.80. The business’s 50-day moving average is $373.72 and its two-hundred day moving average is $351.71. Casey’s General Stores, Inc. has a 1 year low of $260.13 and a 1 year high of $401.07. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.84 and a quick ratio of 0.44.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.54 by $0.29. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period in the previous year, the company earned $4.52 earnings per share. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. Research analysts anticipate that Casey’s General Stores, Inc. will post 14.01 earnings per share for the current fiscal year.

Casey’s General Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Friday, November 1st. Casey’s General Stores’s payout ratio is currently 14.89%.

Analysts Set New Price Targets

CASY has been the subject of several recent research reports. Melius Research began coverage on Casey’s General Stores in a research report on Monday, September 23rd. They issued a “buy” rating and a $435.00 price target for the company. BMO Capital Markets increased their price objective on shares of Casey’s General Stores from $305.00 to $400.00 and gave the stock a “market perform” rating in a research report on Thursday, June 13th. JPMorgan Chase & Co. cut Casey’s General Stores from a “neutral” rating to an “underweight” rating and upped their target price for the company from $300.00 to $337.00 in a research note on Thursday, September 19th. Benchmark reissued a “buy” rating and set a $410.00 price target on shares of Casey’s General Stores in a research note on Tuesday, September 10th. Finally, Royal Bank of Canada upped their price objective on Casey’s General Stores from $393.00 to $403.00 and gave the company a “sector perform” rating in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $407.64.

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.