Ontario Teachers Pension Plan Board Trims Stock Holdings in Casey’s General Stores, Inc. (NASDAQ:CASY)

Ontario Teachers Pension Plan Board cut its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 12.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 992 shares of the company’s stock after selling 135 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Casey’s General Stores were worth $373,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Janus Henderson Group PLC lifted its position in shares of Casey’s General Stores by 1.4% during the first quarter. Janus Henderson Group PLC now owns 768,060 shares of the company’s stock worth $244,592,000 after purchasing an additional 10,841 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Casey’s General Stores by 3.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 468,650 shares of the company’s stock worth $178,822,000 after buying an additional 14,750 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Casey’s General Stores by 20.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 458,044 shares of the company’s stock worth $174,771,000 after acquiring an additional 77,515 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Casey’s General Stores during the 3rd quarter valued at approximately $959,880,000. Finally, Thrivent Financial for Lutherans lifted its stake in Casey’s General Stores by 15.3% during the third quarter. Thrivent Financial for Lutherans now owns 251,736 shares of the company’s stock worth $94,581,000 after purchasing an additional 33,376 shares during the last quarter. 85.63% of the stock is owned by institutional investors and hedge funds.

Casey’s General Stores Stock Performance

Shares of Casey’s General Stores stock opened at $427.88 on Friday. The stock has a market cap of $15.88 billion, a PE ratio of 31.14 and a beta of 0.79. Casey’s General Stores, Inc. has a 12 month low of $266.56 and a 12 month high of $428.61. The company has a quick ratio of 0.44, a current ratio of 0.84 and a debt-to-equity ratio of 0.44. The business has a fifty day simple moving average of $390.34 and a 200-day simple moving average of $372.51.

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, beating analysts’ consensus estimates of $4.54 by $0.29. The company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.15 billion. Casey’s General Stores had a return on equity of 17.07% and a net margin of 3.40%. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.52 EPS. On average, sell-side analysts anticipate that Casey’s General Stores, Inc. will post 14.24 EPS for the current fiscal year.

Casey’s General Stores Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend was Friday, November 1st. Casey’s General Stores’s dividend payout ratio (DPR) is currently 14.56%.

Analyst Upgrades and Downgrades

CASY has been the subject of several recent research reports. Benchmark reiterated a “buy” rating and set a $410.00 target price on shares of Casey’s General Stores in a research note on Tuesday, September 10th. JPMorgan Chase & Co. lowered shares of Casey’s General Stores from a “neutral” rating to an “underweight” rating and increased their price objective for the stock from $300.00 to $337.00 in a research note on Thursday, September 19th. StockNews.com lowered Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 3rd. Evercore ISI increased their price objective on Casey’s General Stores from $435.00 to $440.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Gordon Haskett initiated coverage on shares of Casey’s General Stores in a research note on Monday, November 4th. They set a “hold” rating and a $400.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $408.25.

Insider Activity

In other news, CEO Darren M. Rebelez sold 13,500 shares of Casey’s General Stores stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $374.54, for a total transaction of $5,056,290.00. Following the completion of the sale, the chief executive officer now directly owns 73,838 shares in the company, valued at $27,655,284.52. The trade was a 15.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mike Spanos acquired 267 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was purchased at an average price of $376.18 per share, for a total transaction of $100,440.06. Following the acquisition, the director now directly owns 2,594 shares of the company’s stock, valued at $975,810.92. The trade was a 11.47 % increase in their position. The disclosure for this purchase can be found here. 0.56% of the stock is currently owned by corporate insiders.

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.