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

Sumitomo Mitsui Trust Group Inc. decreased its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 1.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,209 shares of the company’s stock after selling 1,348 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Casey’s General Stores were worth $45,762,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Daiichi Life Insurance Co. Ltd. acquired a new stake in Casey’s General Stores in the second quarter valued at $1,222,000. National Pension Service boosted its stake in Casey’s General Stores by 3,138.9% during the 2nd quarter. National Pension Service now owns 67,466 shares of the company’s stock valued at $53,621,000 after purchasing an additional 65,383 shares in the last quarter. NEOS Investment Management LLC bought a new stake in shares of Casey’s General Stores in the 2nd quarter worth approximately $4,602,000. Teachers Retirement System of The State of Kentucky raised its holdings in Casey’s General Stores by 52.0% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 17,079 shares of the company’s stock worth $12,431,000 after buying an additional 5,846 shares during the period. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of Casey’s General Stores in the second quarter worth approximately $15,114,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Trading Up 1.4%

NASDAQ CASY opened at $674.84 on Thursday. The stock’s 50-day simple moving average is $662.52 and its two-hundred day simple moving average is $740.48. Casey’s General Stores, Inc. has a twelve month low of $513.10 and a twelve month high of $927.85. 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 $24.94 billion, a price-to-earnings ratio of 32.51, a PEG ratio of 2.15 and a beta of 0.59.

Casey’s General Stores (NASDAQ:CASY) last issued its earnings results on Tuesday, September 8th. The company reported $7.37 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.56 billion. During the same quarter in the previous year, the firm earned $5.77 EPS. Casey’s General Stores’s revenue was up 24.3% on a year-over-year basis. Research analysts forecast that Casey’s General Stores, Inc. will post 21.61 EPS for the current fiscal year.

Casey’s General Stores Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CASY shares. Evercore reissued an “outperform” rating and set a $775.00 target price on shares of Casey’s General Stores in a research report on Friday, September 11th. The Goldman Sachs Group set a $750.00 price objective on Casey’s General Stores in a report on Wednesday, September 9th. UBS Group cut their price target on shares of Casey’s General Stores from $925.00 to $720.00 and set a “neutral” rating for the company in a research note on Thursday, September 10th. Royal Bank Of Canada upgraded Casey’s General Stores from a “sector perform” rating to an “outperform” rating and lowered their target price for the stock from $910.00 to $825.00 in a research note on Thursday, October 15th. Finally, William Blair reissued an “outperform” rating on shares of Casey’s General Stores in a research note on Wednesday, September 16th. Sixteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $835.38.

Casey’s General Stores 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.