VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Casey's General Stores, Inc. $CASY

Key Points

• Virginia Retirement Systems ET Al has purchased a new position in Casey's General Stores, acquiring 3,824 shares valued at approximately $1,951,000.
• Casey's General Stores recently reported a Q4 earnings per share (EPS) of $5.77, exceeding expectations of $5.02, and experienced an 11.5% increase in revenue year-over-year.
• The company has announced a quarterly dividend of $0.57, with an ex-dividend date set for October 31st, representing an annualized payout ratio of 14.63%.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,824 shares of the company's stock, valued at approximately $1,951,000.

Several other institutional investors have also modified their holdings of CASY. GAMMA Investing LLC grew its stake in shares of Casey's General Stores by 25.7% in the first quarter. GAMMA Investing LLC now owns 1,253 shares of the company's stock worth $544,000 after acquiring an additional 256 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Casey's General Stores by 12.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,237 shares of the company's stock worth $1,405,000 after acquiring an additional 362 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Casey's General Stores by 40.5% in the first quarter. Blue Trust Inc. now owns 548 shares of the company's stock worth $238,000 after acquiring an additional 158 shares in the last quarter. Avior Wealth Management LLC grew its stake in shares of Casey's General Stores by 29.9% in the first quarter. Avior Wealth Management LLC now owns 526 shares of the company's stock worth $228,000 after acquiring an additional 121 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its stake in shares of Casey's General Stores by 2.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 18,490 shares of the company's stock worth $8,025,000 after purchasing an additional 426 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company's stock.

Insider Activity at Casey's General Stores

In other news, insider Chad Michael Frazell sold 3,487 shares of the company's stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $555.40, for a total value of $1,936,679.80. Following the completion of the sale, the insider directly owned 7,993 shares of the company's stock, valued at approximately $4,439,312.20. This represents a 30.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.54% of the company's stock.

Casey's General Stores Price Performance

Shares of CASY opened at $548.13 on Wednesday. Casey's General Stores, Inc. has a 1-year low of $372.08 and a 1-year high of $572.18. The stock has a market cap of $20.38 billion, a PE ratio of 35.18 and a beta of 0.68. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.03 and a quick ratio of 0.61. The firm has a fifty day moving average price of $535.62 and a 200 day moving average price of $499.86.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its earnings results on Monday, September 8th. The company reported $5.77 EPS for the quarter, beating analysts' consensus estimates of $5.02 by $0.75. Casey's General Stores had a net margin of 3.54% and a return on equity of 16.73%. The business had revenue of $4.57 billion during the quarter, compared to analysts' expectations of $4.47 billion. During the same period in the prior year, the company earned $4.83 earnings per share. The business's revenue was up 11.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Casey's General Stores, Inc. will post 13.94 EPS for the current year.

Casey's General Stores Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Saturday, November 1st will be issued 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 dividend payout ratio is presently 14.63%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CASY. Wells Fargo & Company began coverage on shares of Casey's General Stores in a research note on Wednesday, October 15th. They set an "overweight" rating and a $610.00 target price for the company. BMO Capital Markets boosted their target price on shares of Casey's General Stores from $515.00 to $540.00 and gave the stock a "market perform" rating in a research note on Wednesday, September 10th. Zacks Research upgraded shares of Casey's General Stores from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 15th. The Goldman Sachs Group boosted their target price on shares of Casey's General Stores from $450.00 to $490.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 10th. Finally, Royal Bank Of Canada boosted 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 report on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $536.60.

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.

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