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

Retirement Systems of Alabama lessened its holdings in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 20.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Private Trust Co. NA lifted its position in Casey's General Stores by 1.3% during the 3rd quarter. Private Trust Co. NA now owns 2,072 shares of the company's stock worth $778,000 after acquiring an additional 27 shares during the last quarter. V Square Quantitative Management LLC raised its position in shares of 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 valued at $59,000 after buying an additional 29 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of Casey's General Stores by 24.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 149 shares of the company's stock valued at $59,000 after buying an additional 29 shares during the last quarter. Verus Capital Partners LLC raised its position in shares of Casey's General Stores by 3.1% during the third quarter. Verus Capital Partners LLC now owns 991 shares of the company's stock valued at $372,000 after buying an additional 30 shares during the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of Casey's General Stores by 3.3% during the third quarter. CIBC Asset Management Inc now owns 1,078 shares of the company's stock valued at $405,000 after buying an additional 34 shares during the last quarter. Institutional investors and hedge funds own 85.63% of the company's stock.

Casey's General Stores Price Performance

Shares of CASY stock traded up $4.58 during trading hours on Monday, reaching $431.40. 173,208 shares of the company were exchanged, compared to its average volume of 254,976. Casey's General Stores, Inc. has a fifty-two week low of $279.99 and a fifty-two week high of $439.68. The stock's fifty day moving average is $408.73 and its two-hundred day moving average is $393.64. The company has a market cap of $16.01 billion, a price-to-earnings ratio of 29.90, a P/E/G ratio of 2.48 and a beta of 0.83. 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 - Get Free Report) last announced its earnings results on Monday, December 9th. The company reported $4.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.29 by $0.56. Casey's General Stores had a net margin of 3.57% and a return on equity of 17.17%. The company had revenue of $3.95 billion for the quarter, compared to analyst estimates of $4.03 billion. During the same period in the prior year, the business earned $4.24 earnings per share. Casey's General Stores's quarterly revenue was down 2.9% on a year-over-year basis. Sell-side analysts forecast 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 17th. Investors of record on Monday, February 3rd will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.00 annualized dividend and a yield of 0.46%. Casey's General Stores's dividend payout ratio is currently 13.94%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Evercore ISI upped their price objective on shares of Casey's General Stores from $460.00 to $470.00 and gave the company an "outperform" rating in a research report on Friday, December 13th. Royal Bank of Canada upped their target price on shares of Casey's General Stores from $403.00 to $428.00 and gave the company a "sector perform" rating in a research note on Tuesday, December 10th. BMO Capital Markets reissued a "market perform" rating and issued a $450.00 target price (up previously from $400.00) on shares of Casey's General Stores in a research note on Wednesday, December 18th. StockNews.com cut shares of Casey's General Stores from a "strong-buy" rating to a "buy" rating in a research note on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Casey's General Stores from $451.00 to $454.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $424.00.

Insider Activity at Casey's General Stores

In related news, insider Katrina S. Lindsey sold 450 shares of the 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 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mike Spanos acquired 500 shares of the business's 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 completion of the acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. 0.56% of the stock is currently owned by company insiders.

Casey's General Stores Company 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.