State Board of Administration of Florida Retirement System Decreases Position in Casey’s General Stores Inc (NASDAQ:CASY)

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State Board of Administration of Florida Retirement System trimmed its holdings in Casey’s General Stores Inc (NASDAQ:CASY) by 2.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,772 shares of the company’s stock after selling 959 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.11% of Casey’s General Stores worth $6,516,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in CASY. Meeder Asset Management Inc. purchased a new position in shares of Casey’s General Stores in the second quarter valued at about $112,000. Chicago Equity Partners LLC lifted its stake in shares of Casey’s General Stores by 169.8% in the second quarter. Chicago Equity Partners LLC now owns 5,395 shares of the company’s stock worth $842,000 after buying an additional 3,395 shares in the last quarter. Swiss National Bank lifted its position in Casey’s General Stores by 2.1% during the second quarter. Swiss National Bank now owns 68,087 shares of the company’s stock valued at $10,621,000 after purchasing an additional 1,400 shares during the period. Comerica Bank lifted its position in Casey’s General Stores by 4.8% during the second quarter. Comerica Bank now owns 70,853 shares of the company’s stock valued at $11,368,000 after purchasing an additional 3,259 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in Casey’s General Stores by 2.3% during the second quarter. Envestnet Asset Management Inc. now owns 52,938 shares of the company’s stock valued at $8,258,000 after purchasing an additional 1,170 shares during the period. Institutional investors and hedge funds own 90.12% of the company’s stock.

In other news, SVP Julia L. Jackowski sold 20,000 shares of Casey’s General Stores stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $149.49, for a total value of $2,989,800.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Brian Joseph Johnson sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $156.48, for a total value of $625,920.00. Following the transaction, the senior vice president now directly owns 14,817 shares in the company, valued at $2,318,564.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,106 shares of company stock valued at $5,292,595. 0.41% of the stock is currently owned by company insiders.

Casey’s General Stores stock traded up $0.36 during mid-day trading on Wednesday, hitting $169.21. The company had a trading volume of 237 shares, compared to its average volume of 319,854. The stock has a market cap of $6.22 billion, a price-to-earnings ratio of 30.62, a PEG ratio of 3.25 and a beta of 0.58. Casey’s General Stores Inc has a 1 year low of $112.16 and a 1 year high of $173.31. The company has a quick ratio of 0.23, a current ratio of 0.69 and a debt-to-equity ratio of 0.91. The business has a fifty day moving average of $164.78 and a 200 day moving average of $143.03.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Monday, June 10th. The company reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.27. Casey’s General Stores had a return on equity of 14.95% and a net margin of 2.18%. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the company earned $0.51 earnings per share. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. Equities analysts anticipate that Casey’s General Stores Inc will post 5.89 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Wednesday, July 31st. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.29. Casey’s General Stores’s dividend payout ratio (DPR) is currently 23.23%.

A number of analysts have commented on the stock. Gabelli cut shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Stephens upped their target price on shares of Casey’s General Stores from $143.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, June 13th. Sidoti set a $147.00 price objective on shares of Casey’s General Stores and gave the company a “hold” rating in a research report on Tuesday, June 11th. BMO Capital Markets raised their target price on shares of Casey’s General Stores to $140.00 and gave the stock a “market perform” rating in a report on Wednesday, June 12th. Finally, Wells Fargo & Co raised their target price on shares of Casey’s General Stores from $130.00 to $145.00 and gave the stock a “market perform” rating in a report on Wednesday, June 12th. Nine investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $151.90.

Casey’s General Stores Company Profile

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. The company's stores offer a selection of food, including freshly prepared foods, such as pizza, donuts, and sandwiches; beverage and tobacco products; health and beauty aids; automotive products; school supplies, housewares, and pet supplies; and other nonfood items.

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Institutional Ownership by Quarter for Casey`s General Stores (NASDAQ:CASY)

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