Casey’s General Stores, Inc. $CASY Stake Lowered by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund cut its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 9.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 31,342 shares of the company’s stock after selling 3,331 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Casey’s General Stores were worth $19,070,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. BlackRock Inc. acquired a new position in Casey’s General Stores during the 2nd quarter worth about $2,759,895,000. Bank of America Corp DE acquired a new stake in Casey’s General Stores in the 2nd quarter valued at about $281,872,000. Bank of New York Mellon Corp bought a new position in shares of Casey’s General Stores in the second quarter worth about $281,011,000. Jupiter Topco LLC bought a new position in shares of Casey’s General Stores in the second quarter worth about $246,982,000. Finally, Principal Financial Group Inc. lifted its position in shares of Casey’s General Stores by 2.1% during the first quarter. Principal Financial Group Inc. now owns 252,374 shares of the company’s stock worth $183,693,000 after purchasing an additional 5,294 shares in the last quarter. 85.63% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on CASY. Royal Bank Of Canada raised shares of Casey’s General Stores from a “sector perform” rating to an “outperform” rating and lowered their price target for the company from $910.00 to $825.00 in a report on Thursday, October 15th. JPMorgan Chase & Co. reduced their price objective on Casey’s General Stores from $975.00 to $833.00 and set a “neutral” rating on the stock in a report on Thursday, September 3rd. William Blair reiterated an “outperform” rating on shares of Casey’s General Stores in a research report on Wednesday, September 16th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $933.00 target price on shares of Casey’s General Stores in a research note on Thursday, September 10th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Casey’s General Stores in a research report on Monday, October 19th. Sixteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $835.38.

Casey’s General Stores Price Performance

CASY opened at $698.48 on Wednesday. The company has a fifty day moving average price of $656.31 and a two-hundred day moving average price of $741.71. The firm has a market capitalization of $25.82 billion, a PE ratio of 33.65, a P/E/G ratio of 2.24 and a beta of 0.59. Casey’s General Stores, Inc. has a 52 week low of $529.84 and a 52 week high of $927.85. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.61 and a current ratio of 1.02.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Tuesday, September 8th. The company reported $7.37 earnings per share for the quarter, beating analysts’ consensus estimates of $6.78 by $0.59. Casey’s General Stores had a return on equity of 19.68% and a net margin of 4.14%. The company had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.56 billion. During the same quarter in the prior year, the business posted $5.77 EPS. The firm’s quarterly revenue was up 24.3% on a year-over-year basis. As a group, analysts anticipate that Casey’s General Stores, Inc. will post 21.61 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Sunday, November 1st will be paid a $0.65 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $2.60 annualized dividend and a yield of 0.4%. Casey’s General Stores’s dividend payout ratio is presently 12.52%.

About Casey’s General Stores

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.