Retirement Systems of Alabama Sells 14,056 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY)

Retirement Systems of Alabama lowered its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 20.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,025 shares of the company’s stock after selling 14,056 shares during the period. Retirement Systems of Alabama owned 0.15% of Casey’s General Stores worth $22,199,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Endeavor Private Wealth Inc. bought a new position in Casey’s General Stores during the 4th quarter worth $36,000. Venturi Wealth Management LLC grew its stake in shares of Casey’s General Stores by 941.7% in the third quarter. Venturi Wealth Management LLC now owns 125 shares of the company’s stock valued at $47,000 after acquiring an additional 113 shares in the last quarter. V Square Quantitative Management LLC increased its position in Casey’s General Stores by 22.5% during the third quarter. V Square Quantitative Management LLC now owns 158 shares of the company’s stock worth $59,000 after acquiring an additional 29 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in Casey’s General Stores by 24.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 149 shares of the company’s stock worth $59,000 after purchasing an additional 29 shares in the last quarter. Finally, Kennebec Savings Bank bought a new stake in Casey’s General Stores in the 3rd quarter valued at about $76,000. 85.63% of the stock is owned by institutional investors and hedge funds.

Casey’s General Stores Price Performance

Shares of NASDAQ:CASY opened at $435.27 on Friday. The firm has a 50 day simple moving average of $408.61 and a 200 day simple moving average of $393.05. The company has a market cap of $16.16 billion, a price-to-earnings ratio of 30.33, a PEG ratio of 2.40 and a beta of 0.83. Casey’s General Stores, Inc. has a one year low of $274.81 and a one year high of $439.68. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.49.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Monday, December 9th. The company reported $4.85 earnings per share for the quarter, beating the consensus estimate of $4.29 by $0.56. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The company had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter last year, the business posted $4.24 EPS. Casey’s General Stores’s revenue for the quarter was down 2.9% on a year-over-year basis. Research analysts predict that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 17th. Stockholders of record on Monday, February 3rd will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, February 3rd. Casey’s General Stores’s dividend payout ratio (DPR) is currently 13.94%.

Insider Activity

In related news, insider Katrina S. Lindsey sold 450 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $427.13, for a total value of $192,208.50. Following the completion of the sale, the insider now directly owns 2,247 shares in the company, valued at $959,761.11. This represents a 16.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mike Spanos bought 500 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average cost of $396.76 per share, with a total value of $198,380.00. Following the completion of the transaction, the director now owns 3,097 shares in the company, valued at $1,228,765.72. The trade was a 19.25 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.56% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on CASY. Gordon Haskett initiated coverage on shares of Casey’s General Stores in a report on Monday, November 4th. They set a “hold” rating and a $400.00 target price on the stock. Evercore ISI lifted their price objective on Casey’s General Stores from $460.00 to $470.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Royal Bank of Canada increased their target price on Casey’s General Stores from $403.00 to $428.00 and gave the stock a “sector perform” rating in a report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft raised their price target on Casey’s General Stores from $451.00 to $454.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, StockNews.com cut shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $424.00.

Casey’s General Stores Profile

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.