Mirae Asset Global Investments Co. Ltd. Makes New Investment in Casey’s General Stores, Inc. $CASY

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of 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. The institutional investor acquired 9,519 shares of the company’s stock, valued at approximately $5,792,000.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Casey’s General Stores during the second quarter valued at about $2,759,895,000. Bank of America Corp DE purchased a new stake in shares of Casey’s General Stores in the second quarter worth about $281,872,000. Bank of New York Mellon Corp purchased a new stake in shares of Casey’s General Stores in the second quarter worth about $281,011,000. Jupiter Topco LLC bought a new position in shares of Casey’s General Stores in the second quarter valued at approximately $246,982,000. Finally, Principal Financial Group Inc. boosted its position in shares of Casey’s General Stores by 2.1% in the first quarter. Principal Financial Group Inc. now owns 252,374 shares of the company’s stock valued at $183,693,000 after acquiring an additional 5,294 shares during the period. Institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Price Performance

Shares of NASDAQ CASY opened at $689.53 on Friday. The firm has a market capitalization of $25.49 billion, a P/E ratio of 33.21, a P/E/G ratio of 2.18 and a beta of 0.59. 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 stock’s 50-day simple moving average is $660.17 and its two-hundred day simple moving average is $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 released its quarterly earnings results on Tuesday, September 8th. The company reported $7.37 earnings per share for the quarter, beating the consensus estimate of $6.78 by $0.59. Casey’s General Stores had a return on equity of 19.68% and a net margin of 4.14%. The firm had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.56 billion. During the same quarter last year, the firm posted $5.77 EPS. The company’s revenue was up 24.3% compared to the same quarter last year. As a group, equities analysts anticipate that Casey’s General Stores, Inc. will post 21.61 EPS for the current fiscal year.

Casey’s General Stores Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors 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 yield of 0.4%. The ex-dividend date of this dividend is Friday, October 30th. Casey’s General Stores’s dividend payout ratio (DPR) is currently 12.52%.

Wall Street Analyst Weigh In

Several brokerages recently commented on CASY. KeyCorp reduced 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 research note on Thursday, September 10th. JPMorgan Chase & Co. lowered their target price on shares of Casey’s General Stores from $975.00 to $833.00 and set a “neutral” rating on the stock in a research note on Thursday, September 3rd. Northcoast Research upgraded shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $950.00 target price on the stock in a research note on Monday, July 13th. Weiss Ratings reissued a “buy (b)” rating on shares of Casey’s General Stores in a report on Monday, October 19th. Finally, William Blair restated an “outperform” rating on shares of Casey’s General Stores in a research report on Wednesday, September 16th. Sixteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $835.38.

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.