Sumitomo Mitsui Asset Management Company LTD Acquires New Position in Caseys General Stores, Inc. (CASY)
Sumitomo Mitsui Asset Management Company LTD acquired a new stake in Caseys General Stores, Inc. (NASDAQ:CASY) during the third quarter, Holdings Channel reports. The firm acquired 70,776 shares of the company’s stock, valued at approximately $8,503,000. Sumitomo Mitsui Asset Management Company LTD owned about 0.18% of Caseys General Stores at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Advisors Asset Management Inc. purchased a new position in Caseys General Stores during the second quarter worth approximately $132,000. Financial Architects Inc purchased a new position in Caseys General Stores during the third quarter worth approximately $144,000. IFP Advisors Inc boosted its position in Caseys General Stores by 3.9% in the second quarter. IFP Advisors Inc now owns 1,321 shares of the company’s stock worth $174,000 after buying an additional 50 shares during the period. Calamos Wealth Management LLC purchased a new position in Caseys General Stores during the second quarter worth approximately $205,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Caseys General Stores during the second quarter worth approximately $211,000. Institutional investors own 86.40% of the company’s stock.
Caseys General Stores, Inc. (NASDAQ:CASY) traded up 1.13% during mid-day trading on Friday, reaching $119.09. The company’s stock had a trading volume of 16,129 shares. The stock’s 50 day moving average price is $121.65 and its 200 day moving average price is $123.70. The stock has a market capitalization of $4.67 billion, a P/E ratio of 22.46 and a beta of 0.44. Caseys General Stores, Inc. has a 1-year low of $98.80 and a 1-year high of $136.22.
Caseys General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Wednesday, December 7th. The company reported $1.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.59 by $0.15. Caseys General Stores had a net margin of 2.98% and a return on equity of 18.75%. The company had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the prior year, the firm earned $2.00 earnings per share. The firm’s quarterly revenue was down .2% on a year-over-year basis. Analysts expect that Caseys General Stores, Inc. will post $5.31 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Wednesday, February 1st will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, January 30th. This represents a $0.96 annualized dividend and a dividend yield of 0.82%. Caseys General Stores’s dividend payout ratio is presently 18.11%.
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A number of research analysts have commented on CASY shares. Jefferies Group upgraded Caseys General Stores from a “hold” rating to a “buy” rating and set a $134.00 price target on the stock in a research note on Friday, September 30th. Zacks Investment Research cut Caseys General Stores from a “hold” rating to a “sell” rating in a research note on Wednesday, October 19th. Barclays PLC started coverage on Caseys General Stores in a research note on Thursday, September 22nd. They set an “equal weight” rating and a $116.00 price target on the stock. RBC Capital Markets restated a “buy” rating on shares of Caseys General Stores in a research note on Tuesday, January 3rd. Finally, Royal Bank Of Canada reduced their price objective on Caseys General Stores from $139.00 to $137.00 and set an “outperform” rating on the stock in a research note on Thursday, December 8th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $135.40.
Caseys General Stores Company Profile
Casey’s General Stores, Inc and its subsidiaries, operate convenience stores under the name Casey’s General Store in approximately 10 Midwestern states, in Iowa, Missouri, and Illinois. The Company also operates approximately two stores selling primarily tobacco products. The stores carry a range of food, including freshly prepared foods such as pizza, donuts, and sandwiches, beverages, tobacco products, health and beauty aids, automotive products and other nonfood items.
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