Casey’s General Stores, Inc. $CASY Stock: Sumitomo Mitsui Trust Group Inc. Lowers Stake

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 1.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 75,209 shares of the company’s stock after selling 1,348 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.20% of Casey’s General Stores worth $45,762,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in Casey’s General Stores in the 3rd quarter valued at $5,792,000. ProShare Advisors LLC grew its holdings in Casey’s General Stores by 2.5% during the third quarter. ProShare Advisors LLC now owns 7,962 shares of the company’s stock valued at $4,845,000 after purchasing an additional 191 shares during the period. Modera Wealth Management LLC boosted its stake in Casey’s General Stores by 15.0% in the 3rd quarter. Modera Wealth Management LLC now owns 390 shares of the company’s stock worth $237,000 after purchasing an additional 51 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Casey’s General Stores by 3,074.6% in the 3rd quarter. International Assets Investment Management LLC now owns 20,000 shares of the company’s stock valued at $12,169,000 after acquiring an additional 19,370 shares in the last quarter. Finally, BOKF NA boosted its stake in shares of Casey’s General Stores by 82.7% during the 3rd quarter. BOKF NA now owns 1,275 shares of the company’s stock worth $776,000 after acquiring an additional 577 shares during the period. Institutional investors and hedge funds own 85.63% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on CASY. William Blair restated an “outperform” rating on shares of Casey’s General Stores in a research report on Wednesday, September 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Casey’s General Stores in a research note on Monday, October 19th. The Goldman Sachs Group set a $750.00 price objective on shares of Casey’s General Stores in a research report on Wednesday, September 9th. Raymond James Financial upgraded Casey’s General Stores from a “market perform” rating to an “outperform” rating and set a $750.00 price target for the company in a research report on Thursday, September 10th. Finally, KeyCorp dropped their price objective on shares of Casey’s General Stores from $970.00 to $780.00 and set an “overweight” rating for the company in a report on Thursday, September 10th. Sixteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $835.38.

Casey’s General Stores Price Performance

NASDAQ CASY opened at $674.84 on Thursday. The company has a quick ratio of 0.61, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. Casey’s General Stores, Inc. has a 52 week low of $513.10 and a 52 week high of $927.85. The company has a 50-day moving average price of $662.52 and a 200-day moving average price of $740.48. The firm has a market capitalization of $24.94 billion, a P/E ratio of 32.51, a PEG ratio of 2.15 and a beta of 0.59.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Tuesday, September 8th. The company reported $7.37 EPS for the quarter, beating analysts’ consensus estimates of $6.78 by $0.59. The firm had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.56 billion. Casey’s General Stores had a net margin of 4.14% and a return on equity of 19.68%. The firm’s revenue for the quarter was up 24.3% compared to the same quarter last year. During the same quarter last year, the firm earned $5.77 EPS. Equities research analysts anticipate that Casey’s General Stores, Inc. will post 21.61 earnings per share for the current year.

Casey’s General Stores Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Sunday, November 1st will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $2.60 dividend on an annualized basis and a yield of 0.4%. Casey’s General Stores’s dividend payout ratio (DPR) is currently 12.52%.

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.