66,800 Shares in Casey's General Stores, Inc. $CASY Bought by Strs Ohio

Key Points

• Strs Ohio has acquired a new stake in Casey's General Stores, buying 66,800 shares valued at approximately $28.99 million, representing about 0.18% of the company.
• Recent analyst reports show a positive outlook for Casey's General Stores, with multiple upgrades on price targets, reaching as high as $600 from various firms.
• Casey's General Stores reported $5.77 EPS in its latest earnings, exceeding analyst estimates, and announced a quarterly dividend of $0.57 to be paid on November 14th.

Strs Ohio acquired a new position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 66,800 shares of the company's stock, valued at approximately $28,994,000. Strs Ohio owned about 0.18% of Casey's General Stores at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of CASY. Ethic Inc. boosted its stake in Casey's General Stores by 28.2% during the 4th quarter. Ethic Inc. now owns 2,175 shares of the company's stock worth $862,000 after acquiring an additional 479 shares during the last quarter. Gotham Asset Management LLC lifted its stake in Casey's General Stores by 27.8% in the fourth quarter. Gotham Asset Management LLC now owns 1,744 shares of the company's stock valued at $691,000 after buying an additional 379 shares in the last quarter. Jefferies Financial Group Inc. lifted its stake in Casey's General Stores by 44.3% in the fourth quarter. Jefferies Financial Group Inc. now owns 1,511 shares of the company's stock valued at $599,000 after buying an additional 464 shares in the last quarter. Nomura Holdings Inc. bought a new position in Casey's General Stores in the fourth quarter valued at approximately $2,869,000. Finally, Quantinno Capital Management LP lifted its stake in Casey's General Stores by 0.6% in the fourth quarter. Quantinno Capital Management LP now owns 8,748 shares of the company's stock valued at $3,466,000 after buying an additional 52 shares in the last quarter. Institutional investors own 85.63% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Royal Bank Of Canada lifted their price target on shares of Casey's General Stores from $468.00 to $542.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 9th. The Goldman Sachs Group lifted their price target on shares of Casey's General Stores from $450.00 to $490.00 and gave the company a "neutral" rating in a research note on Wednesday, September 10th. Evercore ISI lifted their price target on shares of Casey's General Stores from $560.00 to $580.00 and gave the company an "outperform" rating in a research note on Wednesday, September 10th. KeyCorp lifted their price target on shares of Casey's General Stores from $550.00 to $575.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Finally, Wall Street Zen raised shares of Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Eight research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Casey's General Stores has a consensus rating of "Moderate Buy" and an average target price of $505.25.

Insiders Place Their Bets

In other news, Director Mike Spanos bought 200 shares of the stock in a transaction that occurred on Monday, June 30th. The shares were acquired at an average cost of $503.18 per share, for a total transaction of $100,636.00. Following the completion of the acquisition, the director owned 3,560 shares in the company, valued at approximately $1,791,320.80. This represents a 5.95% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Katrina S. Lindsey sold 2,000 shares of the business's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $506.07, for a total transaction of $1,012,140.00. Following the transaction, the insider owned 4,636 shares in the company, valued at approximately $2,346,140.52. The trade was a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,046 shares of company stock valued at $18,294,656 over the last 90 days. 0.54% of the stock is currently owned by company insiders.

Casey's General Stores Stock Up 0.2%

Shares of CASY stock traded up $1.02 during trading on Monday, reaching $554.91. The company's stock had a trading volume of 331,809 shares, compared to its average volume of 356,151. The business has a fifty day moving average price of $516.25 and a 200-day moving average price of $472.88. The company has a quick ratio of 0.61, a current ratio of 1.03 and a debt-to-equity ratio of 0.65. The company has a market cap of $20.63 billion, a price-to-earnings ratio of 35.62 and a beta of 0.66. Casey's General Stores, Inc. has a one year low of $362.42 and a one year high of $562.97.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings data on Monday, September 8th. The company reported $5.77 EPS for the quarter, topping analysts' consensus estimates of $5.02 by $0.75. The business had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.47 billion. Casey's General Stores had a net margin of 3.54% and a return on equity of 16.73%. The firm's revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.83 earnings per share. Analysts anticipate that Casey's General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey's General Stores Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Saturday, November 1st will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, October 31st. Casey's General Stores's payout ratio is currently 14.63%.

About Casey's General Stores

Casey's General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.