New Mexico Educational Retirement Board Reduces Holdings in Casey’s General Stores, Inc. $CASY

New Mexico Educational Retirement Board decreased its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 76.7% during the second quarter, HoldingsChannel reports. The fund owned 1,768 shares of the company’s stock after selling 5,832 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Casey’s General Stores were worth $1,405,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Fiduciary Financial Advisors bought a new stake in shares of Casey’s General Stores in the 2nd quarter worth about $26,000. Whipplewood Advisors LLC purchased a new stake in Casey’s General Stores in the 1st quarter worth about $33,000. Bell Investment Advisors Inc purchased a new stake in Casey’s General Stores in the 2nd quarter worth about $33,000. Caitlin John LLC bought a new stake in Casey’s General Stores in the second quarter worth about $35,000. Finally, Larson Financial Group LLC lifted its stake in Casey’s General Stores by 252.4% in the fourth quarter. Larson Financial Group LLC now owns 74 shares of the company’s stock worth $41,000 after purchasing an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Price Performance

Shares of NASDAQ:CASY opened at $755.47 on Monday. Casey’s General Stores, Inc. has a 52-week low of $490.00 and a 52-week high of $927.85. The stock has a market cap of $27.96 billion, a P/E ratio of 39.43, a price-to-earnings-growth ratio of 2.59 and a beta of 0.61. The business’s 50 day moving average is $831.92 and its 200 day moving average is $782.18. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, topping the consensus estimate of $3.31 by $1.06. The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.33 billion. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.Casey’s General Stores’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period last year, the business posted $2.63 EPS. Sell-side analysts predict that Casey’s General Stores, Inc. will post 21.11 EPS for the current year.

Casey’s General Stores Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Saturday, August 1st were issued a $0.65 dividend. The ex-dividend date was Friday, July 31st. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.57. This represents a $2.60 annualized dividend and a dividend yield of 0.3%. Casey’s General Stores’s dividend payout ratio is presently 13.57%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Zacks Research cut Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. BNP Paribas Exane decreased their price target on Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating for the company in a research note on Thursday, June 25th. JPMorgan Chase & Co. upped their price objective on Casey’s General Stores from $719.00 to $975.00 and gave the company a “neutral” rating in a research report on Friday, June 12th. UBS Group reduced their target price on Casey’s General Stores from $945.00 to $925.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Wolfe Research reiterated an “outperform” rating and set a $1,069.00 target price on shares of Casey’s General Stores in a research report on Thursday, June 11th. Fourteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $942.87.

Insider Transactions at Casey’s General Stores

In related news, Director Allison M. Wing sold 530 shares of Casey’s General Stores stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $837.58, for a total transaction of $443,917.40. Following the transaction, the director directly owned 3,042 shares of the company’s stock, valued at $2,547,918.36. This trade represents a 14.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Katrina S. Lindsey sold 2,000 shares of the company’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $800.00, for a total value of $1,600,000.00. Following the sale, the insider owned 6,668 shares of the company’s stock, valued at approximately $5,334,400. This represents a 23.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 30,243 shares of company stock valued at $24,421,877 over the last three months. 0.67% of the stock is currently owned by corporate insiders.

Casey’s General Stores Company Profile

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.