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

State of New Jersey Common Pension Fund D cut its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 34.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,667 shares of the company’s stock after selling 7,128 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Casey’s General Stores were worth $5,215,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Rise Advisors LLC bought a new position in shares of Casey’s General Stores during the first quarter valued at $30,000. Park Place Capital Corp purchased a new stake in shares of Casey’s General Stores during the second quarter worth about $31,000. Advisors Asset Management Inc. purchased a new stake in shares of Casey’s General Stores during the first quarter worth about $32,000. Innealta Capital LLC purchased a new stake in shares of Casey’s General Stores during the second quarter worth about $32,000. Finally, V Square Quantitative Management LLC bought a new position in Casey’s General Stores during the fourth quarter valued at approximately $35,000. 85.63% of the stock is currently owned by institutional investors.

Casey’s General Stores Trading Down 0.2 %

NASDAQ CASY opened at $380.68 on Tuesday. Casey’s General Stores, Inc. has a 52 week low of $260.13 and a 52 week high of $401.07. The company’s fifty day simple moving average is $374.20 and its 200-day simple moving average is $346.15. The company has a current ratio of 0.84, a quick ratio of 0.44 and a debt-to-equity ratio of 0.44. The stock has a market cap of $14.13 billion, a P/E ratio of 28.35, a PEG ratio of 2.58 and a beta of 0.80.

Casey’s General Stores (NASDAQ:CASY) last issued its earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share for the quarter, topping analysts’ consensus estimates of $4.54 by $0.29. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. The company had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same period in the prior year, the company earned $4.52 earnings per share. The firm’s revenue was up 5.9% compared to the same quarter last year. Equities research analysts predict that Casey’s General Stores, Inc. will post 14.15 EPS for the current fiscal year.

Casey’s General Stores Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date is Friday, November 1st. Casey’s General Stores’s dividend payout ratio (DPR) is 14.89%.

Analyst Ratings Changes

A number of brokerages have recently commented on CASY. Evercore ISI lifted their target price on Casey’s General Stores from $410.00 to $435.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. JPMorgan Chase & Co. lifted their target price on Casey’s General Stores from $298.00 to $300.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. StockNews.com lowered Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 3rd. Wells Fargo & Company boosted their target price on Casey’s General Stores from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Casey’s General Stores from $420.00 to $444.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $401.20.

Insider Activity at Casey’s General Stores

In related news, CEO Darren M. Rebelez sold 13,500 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $374.54, for a total transaction of $5,056,290.00. Following the transaction, the chief executive officer now owns 73,838 shares of the company’s stock, valued at $27,655,284.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Darren M. Rebelez sold 13,500 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $374.54, for a total value of $5,056,290.00. Following the completion of the sale, the chief executive officer now directly owns 73,838 shares of the company’s stock, valued at approximately $27,655,284.52. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Thomas P. Brennan, Jr. sold 3,000 shares of Casey’s General Stores stock in a transaction on Friday, September 6th. The shares were sold at an average price of $380.24, for a total transaction of $1,140,720.00. Following the completion of the sale, the insider now owns 9,044 shares in the company, valued at $3,438,890.56. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

About Casey’s General Stores

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.