Casey’s General Stores, Inc. $CASY Shares Acquired by California State Teachers Retirement System

California State Teachers Retirement System boosted its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 22.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 43,132 shares of the company’s stock after purchasing an additional 7,886 shares during the quarter. California State Teachers Retirement System’s holdings in Casey’s General Stores were worth $31,394,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CASY. Kathmere Capital Management LLC lifted its stake in Casey’s General Stores by 3.5% during the first quarter. Kathmere Capital Management LLC now owns 387 shares of the company’s stock worth $282,000 after purchasing an additional 13 shares during the last quarter. Pinnacle Bancorp Inc. increased its stake in Casey’s General Stores by 4.8% in the first quarter. Pinnacle Bancorp Inc. now owns 303 shares of the company’s stock valued at $221,000 after purchasing an additional 14 shares during the last quarter. Menard Financial Group LLC increased its stake in Casey’s General Stores by 1.2% in the fourth quarter. Menard Financial Group LLC now owns 1,267 shares of the company’s stock valued at $700,000 after purchasing an additional 15 shares during the last quarter. Cibc World Market Inc. increased its stake in Casey’s General Stores by 0.3% in the fourth quarter. Cibc World Market Inc. now owns 5,136 shares of the company’s stock valued at $2,839,000 after purchasing an additional 16 shares during the last quarter. Finally, FSB Premier Wealth Management Inc. raised its holdings in Casey’s General Stores by 0.8% during the fourth quarter. FSB Premier Wealth Management Inc. now owns 2,338 shares of the company’s stock worth $1,292,000 after purchasing an additional 18 shares in the last quarter. 85.63% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Chad Michael Frazell sold 3,013 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $787.49, for a total value of $2,372,707.37. Following the completion of the sale, the insider owned 9,823 shares in the company, valued at $7,735,514.27. This represents a 23.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Darren M. Rebelez sold 19,000 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $801.46, for a total transaction of $15,227,740.00. Following the sale, the chief executive officer owned 89,174 shares of the company’s stock, valued at approximately $71,469,394.04. This represents a 17.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 30,243 shares of company stock worth $24,421,877. Corporate insiders own 0.67% of the company’s stock.

Casey’s General Stores Trading Up 0.4%

CASY opened at $871.00 on Friday. The firm has a market cap of $32.24 billion, a price-to-earnings ratio of 45.46, a price-to-earnings-growth ratio of 2.60 and a beta of 0.62. Casey’s General Stores, Inc. has a 52 week low of $490.00 and a 52 week high of $927.85. The business’s 50 day moving average is $823.78 and its two-hundred day moving average is $752.36. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $1.06. The company had revenue of $4.57 billion during 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 firm’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.63 earnings per share. On average, research analysts predict that Casey’s General Stores, Inc. will post 21.14 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. Stockholders of record on Saturday, August 1st will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, July 31st. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.57. Casey’s General Stores’s dividend payout ratio is presently 11.90%.

Wall Street Analyst Weigh In

CASY has been the subject of several recent analyst reports. Wells Fargo & Company boosted their price objective on shares of Casey’s General Stores from $910.00 to $960.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. KeyCorp increased their target price on shares of Casey’s General Stores from $950.00 to $970.00 and gave the company an “overweight” rating in a research report on Thursday, June 11th. Zacks Research lowered shares of Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. Evercore reiterated an “outperform” rating and set a $990.00 price target on shares of Casey’s General Stores in a research note on Friday, June 12th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $1,000.00 price target on shares of Casey’s General Stores in a research report on Monday, June 15th. Fourteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $944.20.

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.