Public Employees Retirement System of Ohio Invests $15.68 Million in Casey's General Stores, Inc. $CASY

Key Points

• Public Employees Retirement System of Ohio acquired 19,726 Casey’s General Stores shares worth approximately $15.68 million, while institutional investors collectively own 85.63% of the company.
• Casey’s reported quarterly earnings of $4.37 per share, surpassing estimates by $1.06, while revenue rose 14.5% year over year to $4.57 billion.
• The company increased its quarterly dividend from $0.57 to $0.65 per share; analysts maintain a “Moderate Buy” consensus with an average price target of $942.87.

Public Employees Retirement System of Ohio acquired a new stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 19,726 shares of the company's stock, valued at approximately $15,678,000. Public Employees Retirement System of Ohio owned 0.05% of Casey's General Stores as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Capstone Investment Advisors LLC purchased a new stake in Casey's General Stores during the second quarter worth $2,086,000. Proficio Capital Partners LLC bought a new position in shares of Casey's General Stores in the 2nd quarter worth $843,000. Transamerica Financial Advisors LLC bought a new position in shares of Casey's General Stores in the 2nd quarter worth $49,000. Corient Private Wealth LP purchased a new stake in shares of Casey's General Stores during the 2nd quarter worth $164,376,000. Finally, Ausdal Financial Partners Inc. bought a new stake in Casey's General Stores during the second quarter valued at about $677,000. Institutional investors own 85.63% of the company's stock.

Insider Buying and Selling

In other Casey's General Stores news, CEO Darren M. Rebelez sold 19,000 shares of the business's stock in a transaction that occurred on Tuesday, July 7th. The shares were 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. The trade was a 17.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Chad Michael Frazell sold 3,013 shares of the company's stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $787.49, for a total transaction of $2,372,707.37. Following the transaction, the insider owned 9,823 shares in the company, valued at $7,735,514.27. The trade was a 23.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 30,243 shares of company stock worth $24,421,877 over the last ninety days. Company insiders own 0.67% of the company's stock.

Casey's General Stores Price Performance

Shares of CASY stock opened at $755.47 on Monday. The stock's fifty day moving average price is $831.92 and its 200 day moving average price is $782.18. Casey's General Stores, Inc. has a 1-year low of $490.00 and a 1-year high of $927.85. The company has a market cap of $27.96 billion, a price-to-earnings ratio of 39.43, a price-to-earnings-growth ratio of 2.59 and a beta of 0.61. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, beating analysts' consensus estimates of $3.31 by $1.06. Casey's General Stores had a return on equity of 18.73% and a net margin of 4.07%.The company had revenue of $4.57 billion during the quarter, compared to analysts' expectations of $4.33 billion. During the same period last year, the business posted $2.63 earnings per share. The firm's revenue was up 14.5% compared to the same quarter last year. On average, research analysts expect that Casey's General Stores, Inc. will post 21.11 earnings per share for the current fiscal year.

Casey's General Stores Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Saturday, August 1st were paid a $0.65 dividend. This is a boost from Casey's General Stores's previous quarterly dividend of $0.57. The ex-dividend date was Friday, July 31st. This represents a $2.60 dividend on an annualized basis and a yield of 0.3%. Casey's General Stores's dividend payout ratio (DPR) is 13.57%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CASY. Capital One Financial started coverage on Casey's General Stores in a research note on Monday, June 22nd. They issued an "equal weight" rating and a $896.00 target price on the stock. William Blair initiated coverage on shares of Casey's General Stores in a research report on Wednesday, May 20th. They set an "outperform" rating for the company. Wall Street Zen upgraded shares of Casey's General Stores from a "hold" rating to a "buy" rating in a report on Saturday, June 13th. UBS Group cut their price objective on shares of Casey's General Stores from $945.00 to $925.00 and set a "neutral" rating on the stock in a research report on Thursday. Finally, Weiss Ratings lowered shares of Casey's General Stores from a "buy (b+)" rating to a "buy (b)" rating in a research note on Tuesday, July 21st. Fourteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Casey's General Stores presently has a consensus rating of "Moderate Buy" and an average price target of $942.87.

Casey's General Stores Company Profile

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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