Casey's General Stores, Inc. $CASY Stock Holdings Increased by California State Teachers Retirement System

California State Teachers Retirement System boosted its holdings in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 34.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,932 shares of the company's stock after buying an additional 14,800 shares during the quarter. California State Teachers Retirement System owned about 0.16% of Casey's General Stores worth $46,043,774 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new stake in Casey's General Stores in the second quarter valued at $2,759,895,000. Northwestern Mutual Wealth Management Co. grew its stake in Casey's General Stores by 179,938.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,659,164 shares of the company's stock valued at $1,469,747,000 after acquiring an additional 2,657,687 shares in the last quarter. Norges Bank purchased a new position in Casey's General Stores in the 4th quarter worth approximately $265,163,000. Bank of America Corp DE bought a new stake in Casey's General Stores during the second quarter worth about $281,872,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Casey's General Stores during the 2nd quarter valued at about $281,011,000. 85.63% of the stock is owned by institutional investors.

Casey's General Stores Price Performance

NASDAQ CASY traded down $26.13 during trading on Tuesday, hitting $595.48. 344,065 shares of the stock traded hands, compared to its average volume of 510,235. The company has a quick ratio of 0.61, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $22.01 billion, a P/E ratio of 28.67, a price-to-earnings-growth ratio of 2.01 and a beta of 0.59. The firm has a 50-day simple moving average of $811.54 and a 200-day simple moving average of $785.48. Casey's General Stores, Inc. has a 12-month low of $497.38 and a 12-month high of $927.85.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its quarterly earnings results on Tuesday, September 8th. The company reported $7.37 earnings per share for the quarter, topping 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 during the quarter, compared to analysts' expectations of $5.56 billion. During the same quarter in the prior year, the firm posted $5.77 EPS. Casey's General Stores's quarterly revenue was up 24.3% compared to the same quarter last year. As a group, analysts predict that Casey's General Stores, Inc. will post 21.4 EPS for the current year.

Casey's General Stores Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Sunday, November 1st will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Friday, October 30th. Casey's General Stores's dividend payout ratio (DPR) is presently 12.52%.

Analysts Set New Price Targets

Several research firms have weighed in on CASY. Wall Street Zen downgraded shares of Casey's General Stores from a "buy" rating to a "hold" rating in a research report on Saturday. BMO Capital Markets set a $810.00 price target on shares of Casey's General Stores in a report on Thursday, September 10th. Zacks Research cut Casey's General Stores from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 5th. UBS Group reduced their price target on Casey's General Stores from $925.00 to $720.00 and set a "neutral" rating for the company in a report on Thursday, September 10th. Finally, William Blair assumed coverage on Casey's General Stores in a report on Wednesday, May 20th. They set an "outperform" rating on the stock. Fifteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $840.69.

Insiders Place Their Bets

In other Casey's General Stores news, CEO Darren Rebelez sold 19,000 shares of Casey's General Stores stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $801.46, for a total value of $15,227,740.00. Following the transaction, the chief executive officer directly owned 89,174 shares of the company's stock, valued at $71,469,394.04. The trade was a 17.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Allison Wing sold 530 shares of the stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $837.58, for a total transaction of $443,917.40. Following the completion of the sale, the director owned 3,042 shares in the company, valued at approximately $2,547,918.36. This trade represents a 14.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 30,243 shares of company stock valued at $24,421,877 over the last ninety days. Insiders own 0.67% of the company's stock.

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.

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