State of New Jersey Common Pension Fund D Reduces Stock Position in Casey’s General Stores, Inc. (NASDAQ:CASY)

State of New Jersey Common Pension Fund D trimmed its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 0.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,606 shares of the company’s stock after selling 61 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Casey’s General Stores were worth $5,391,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CASY. Private Trust Co. NA lifted its stake in shares of Casey’s General Stores by 1.3% in the 3rd quarter. Private Trust Co. NA now owns 2,072 shares of the company’s stock valued at $778,000 after purchasing an additional 27 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of 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 valued at $59,000 after purchasing an additional 29 shares in the last quarter. Verus Capital Partners LLC lifted its stake in shares of Casey’s General Stores by 3.1% in the 3rd quarter. Verus Capital Partners LLC now owns 991 shares of the company’s stock valued at $372,000 after purchasing an additional 30 shares in the last quarter. CIBC Asset Management Inc lifted its stake in shares of Casey’s General Stores by 3.3% in the 3rd quarter. CIBC Asset Management Inc now owns 1,078 shares of the company’s stock valued at $405,000 after purchasing an additional 34 shares in the last quarter. Finally, AdvisorNet Financial Inc lifted its stake in shares of Casey’s General Stores by 10.6% in the 4th quarter. AdvisorNet Financial Inc now owns 395 shares of the company’s stock valued at $157,000 after purchasing an additional 38 shares in the last quarter. 85.63% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Mike Spanos acquired 500 shares of Casey’s General Stores stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average price of $396.76 per share, for a total transaction of $198,380.00. Following the transaction, the director now directly owns 3,097 shares of the company’s stock, valued at $1,228,765.72. This trade represents a 19.25 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Katrina S. Lindsey sold 450 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $427.13, for a total value of $192,208.50. Following the transaction, the insider now owns 2,247 shares of the company’s stock, valued at $959,761.11. This represents a 16.69 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

CASY has been the topic of several recent research reports. BMO Capital Markets reissued a “market perform” rating and set a $450.00 price target (up from $400.00) on shares of Casey’s General Stores in a research report on Wednesday, December 18th. StockNews.com raised Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft boosted 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. Royal Bank of Canada boosted their price target on Casey’s General Stores from $403.00 to $428.00 and gave the stock a “sector perform” rating in a research report on Tuesday, December 10th. Finally, Gordon Haskett raised Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Casey’s General Stores presently has an average rating of “Moderate Buy” and a consensus target price of $424.00.

Casey’s General Stores Price Performance

CASY stock opened at $425.77 on Wednesday. The company has a quick ratio of 0.49, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. Casey’s General Stores, Inc. has a 52-week low of $286.46 and a 52-week high of $445.17. The stock’s 50 day moving average is $410.65 and its two-hundred day moving average is $396.07. The company has a market capitalization of $15.80 billion, a PE ratio of 29.67, a P/E/G ratio of 2.48 and a beta of 0.83.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Monday, December 9th. The company reported $4.85 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $4.03 billion. During the same period in the previous year, the business earned $4.24 EPS. The business’s quarterly revenue was down 2.9% on a year-over-year basis. Analysts predict that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 17th. Stockholders of record on Monday, February 3rd were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.47%. Casey’s General Stores’s dividend payout ratio (DPR) is 13.94%.

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.