Pensioenfonds Rail & OV Sells 55,843 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY)

Pensioenfonds Rail & OV lessened its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 31.1% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 123,870 shares of the company’s stock after selling 55,843 shares during the period. Casey’s General Stores makes up approximately 2.9% of Pensioenfonds Rail & OV’s portfolio, making the stock its 13th biggest position. Pensioenfonds Rail & OV’s holdings in Casey’s General Stores were worth $39,446,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BKM Wealth Management LLC bought a new position in Casey’s General Stores during the fourth quarter worth $29,000. Rise Advisors LLC bought a new position in Casey’s General Stores during the first quarter worth $30,000. V Square Quantitative Management LLC bought a new stake in Casey’s General Stores in the fourth quarter valued at $35,000. McGlone Suttner Wealth Management Inc. bought a new stake in Casey’s General Stores in the 4th quarter valued at about $36,000. Finally, ICA Group Wealth Management LLC acquired a new position in Casey’s General Stores during the 4th quarter worth approximately $41,000. 85.63% of the stock is currently owned by institutional investors.

Casey’s General Stores Trading Up 0.3 %

Shares of CASY traded up $1.01 during trading hours on Wednesday, hitting $381.98. The company had a trading volume of 256,541 shares, compared to its average volume of 297,622. The firm has a market cap of $14.18 billion, a P/E ratio of 28.38, a P/E/G ratio of 2.76 and a beta of 0.83. Casey’s General Stores, Inc. has a 52-week low of $222.21 and a 52-week high of $389.43. The stock’s 50 day moving average price is $336.90 and its 200 day moving average price is $307.65. The company has a quick ratio of 0.42, a current ratio of 0.87 and a debt-to-equity ratio of 0.52.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Tuesday, June 11th. The company reported $2.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.64. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.47 billion. Casey’s General Stores had a net margin of 3.38% and a return on equity of 17.25%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.49 EPS. On average, research analysts predict that Casey’s General Stores, Inc. will post 14.18 EPS for the current year.

Casey’s General Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be paid a dividend of $0.50 per share. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $2.00 dividend on an annualized basis and a yield of 0.52%. Casey’s General Stores’s payout ratio is presently 12.81%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Evercore ISI decreased their price objective on Casey’s General Stores from $350.00 to $345.00 and set an “outperform” rating for the company in a report on Tuesday, April 16th. Royal Bank of Canada increased their price objective on Casey’s General Stores from $322.00 to $361.00 and gave the stock a “sector perform” rating in a research note on Wednesday, June 12th. Jefferies Financial Group lifted their target price on Casey’s General Stores from $342.00 to $445.00 and gave the company a “buy” rating in a research report on Wednesday, June 12th. Deutsche Bank Aktiengesellschaft raised their price objective on Casey’s General Stores from $375.00 to $420.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. Finally, StockNews.com cut Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 20th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $380.11.

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.