Mirae Asset Global Investments Co. Ltd. Buys 9,519 Shares of Casey’s General Stores, Inc. $CASY

Mirae Asset Global Investments Co. Ltd. bought a new stake in Casey’s General Stores, Inc. (NASDAQ:CASY) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,519 shares of the company’s stock, valued at approximately $5,792,000.

A number of other large investors have also added to or reduced their stakes in CASY. BlackRock Inc. bought a new stake in Casey’s General Stores during the second quarter worth about $2,759,895,000. Bank of America Corp DE purchased a new position in shares of Casey’s General Stores in the 2nd quarter worth about $281,872,000. Bank of New York Mellon Corp purchased a new position in shares of Casey’s General Stores in the 2nd quarter worth about $281,011,000. Jupiter Topco LLC bought a new position in shares of Casey’s General Stores during the 2nd quarter valued at about $246,982,000. Finally, Principal Financial Group Inc. increased its position in shares of Casey’s General Stores by 2.1% during the 1st quarter. Principal Financial Group Inc. now owns 252,374 shares of the company’s stock valued at $183,693,000 after purchasing an additional 5,294 shares during the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Wall Street Analyst Weigh In

CASY has been the topic of a number of research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Casey’s General Stores in a report on Monday, October 19th. Evercore reaffirmed an “outperform” rating and issued a $775.00 target price on shares of Casey’s General Stores in a research note on Friday, September 11th. Raymond James Financial raised Casey’s General Stores from a “market perform” rating to an “outperform” rating and set a $750.00 target price for the company in a research note on Thursday, September 10th. The Goldman Sachs Group set a $750.00 price target on shares of Casey’s General Stores in a research report on Wednesday, September 9th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $933.00 price target on shares of Casey’s General Stores in a research note on Thursday, September 10th. Sixteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $835.38.

Casey’s General Stores Stock Performance

Casey’s General Stores stock opened at $689.53 on Friday. The company has a quick ratio of 0.61, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $25.49 billion, a PE ratio of 33.21, a P/E/G ratio of 2.18 and a beta of 0.59. The firm has a fifty day simple moving average of $660.17 and a two-hundred day simple moving average of $740.73. Casey’s General Stores, Inc. has a twelve month low of $513.10 and a twelve month high of $927.85.

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

Casey’s General Stores Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Sunday, November 1st will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, October 30th. Casey’s General Stores’s payout ratio is 12.52%.

About Casey’s General Stores

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.