Casey’s General Stores, Inc. $CASY Stock: Illinois Municipal Retirement Fund Reduces Stake

Illinois Municipal Retirement Fund lowered its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 9.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 31,342 shares of the company’s stock after selling 3,331 shares during the period. Illinois Municipal Retirement Fund owned approximately 0.08% of Casey’s General Stores worth $19,070,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CASY. Renasant Bank grew its holdings in shares of Casey’s General Stores by 7.9% during the 3rd quarter. Renasant Bank now owns 398 shares of the company’s stock worth $242,000 after purchasing an additional 29 shares in the last quarter. Gen Wealth Partners Inc raised its stake in shares of Casey’s General Stores by 3.2% in the third quarter. Gen Wealth Partners Inc now owns 1,367 shares of the company’s stock valued at $832,000 after purchasing an additional 42 shares in the last quarter. Kestra Investment Management LLC bought a new position in Casey’s General Stores in the third quarter worth $214,000. University of Texas Texas AM Investment Management Co. lifted its position in Casey’s General Stores by 89.6% in the third quarter. University of Texas Texas AM Investment Management Co. now owns 127 shares of the company’s stock worth $77,000 after purchasing an additional 60 shares during the period. Finally, Avantax Planning Partners Inc. lifted its position in Casey’s General Stores by 0.3% in the third quarter. Avantax Planning Partners Inc. now owns 7,194 shares of the company’s stock worth $4,377,000 after purchasing an additional 18 shares during the period. Institutional investors own 85.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CASY. UBS Group lowered their price target on shares of Casey’s General Stores from $925.00 to $720.00 and set a “neutral” rating on the stock in a report on Thursday, September 10th. Wall Street Zen downgraded shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a report on Saturday, September 12th. Raymond James Financial upgraded shares of Casey’s General Stores from a “market perform” rating to an “outperform” rating and set a $750.00 target price on the stock in a research report on Thursday, September 10th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $933.00 target price on shares of Casey’s General Stores in a research note on Thursday, September 10th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Casey’s General Stores in a research note on Monday, October 19th. Sixteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Casey’s General Stores currently has an average rating of “Moderate Buy” and a consensus target price of $835.38.

Casey’s General Stores Price Performance

Shares of CASY stock opened at $698.48 on Wednesday. Casey’s General Stores, Inc. has a one year low of $529.84 and a one year high of $927.85. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.61. The stock’s fifty day simple moving average is $656.31 and its 200 day simple moving average is $741.71. The firm has a market cap of $25.82 billion, a price-to-earnings ratio of 33.65, a P/E/G ratio of 2.24 and a beta of 0.59.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Tuesday, September 8th. The company reported $7.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.78 by $0.59. Casey’s General Stores had a net margin of 4.14% and a return on equity of 19.68%. The business had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.56 billion. During the same quarter last year, the company posted $5.77 EPS. The firm’s revenue for the quarter was up 24.3% on a year-over-year basis. On average, analysts expect that Casey’s General Stores, Inc. will post 21.61 earnings per share for the current fiscal year.

Casey’s General Stores Dividend Announcement

The company also recently disclosed 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 annualized dividend 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 is currently 12.52%.

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.