Maryland State Retirement & Pension System Has $783,000 Stock Holdings in Casey’s General Stores, Inc. (NASDAQ:CASY)

Maryland State Retirement & Pension System trimmed its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 6.5% during the fourth quarter, Holdings Channel reports. The firm owned 1,976 shares of the company’s stock after selling 138 shares during the period. Maryland State Retirement & Pension System’s holdings in Casey’s General Stores were worth $783,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in shares of Casey’s General Stores in the fourth quarter valued at approximately $236,500,000. Franklin Resources Inc. boosted its stake in Casey’s General Stores by 49.9% in the third quarter. Franklin Resources Inc. now owns 524,237 shares of the company’s stock worth $204,861,000 after purchasing an additional 174,586 shares in the last quarter. Benjamin Edwards Inc. boosted its stake in Casey’s General Stores by 1,819.1% in the third quarter. Benjamin Edwards Inc. now owns 130,291 shares of the company’s stock worth $48,959,000 after purchasing an additional 123,502 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Casey’s General Stores by 281.4% during the third quarter. Wellington Management Group LLP now owns 164,656 shares of the company’s stock worth $61,863,000 after purchasing an additional 121,488 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Casey’s General Stores by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company’s stock valued at $285,090,000 after buying an additional 119,350 shares in the last quarter. 85.63% of the stock is currently owned by institutional investors.

Casey’s General Stores Price Performance

Shares of CASY opened at $412.50 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.49 and a debt-to-equity ratio of 0.74. The stock has a market cap of $15.31 billion, a P/E ratio of 28.75, a price-to-earnings-growth ratio of 2.40 and a beta of 0.87. The stock’s 50-day moving average price is $410.60 and its two-hundred day moving average price is $401.67. Casey’s General Stores, Inc. has a 1 year low of $306.45 and a 1 year high of $445.17.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Tuesday, March 11th. The company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.57. The firm had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.74 billion. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The business’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.33 earnings per share. On average, equities analysts predict that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey’s General Stores Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $2.00 annualized dividend and a yield of 0.48%. Casey’s General Stores’s dividend payout ratio is presently 13.94%.

Insiders Place Their Bets

In other Casey’s General Stores news, Director Mike Spanos acquired 256 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were acquired at an average price of $390.54 per share, for a total transaction of $99,978.24. Following the acquisition, the director now directly owns 3,356 shares of the company’s stock, valued at approximately $1,310,652.24. This trade represents a 8.26 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CASY shares. Evercore ISI reduced their price target on shares of Casey’s General Stores from $460.00 to $450.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 11th. StockNews.com lowered shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. BMO Capital Markets reissued a “market perform” rating and issued a $450.00 price target (up previously from $400.00) on shares of Casey’s General Stores in a report on Wednesday, December 18th. Gordon Haskett raised Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Finally, Royal Bank of Canada set a $438.00 target price on Casey’s General Stores and gave the company a “sector perform” rating in a research note on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $423.09.

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.