Mercer Global Advisors Inc. ADV Makes New Investment in Casey’s General Stores, Inc. (NASDAQ:CASY)

Mercer Global Advisors Inc. ADV bought a new position in Casey’s General Stores, Inc. (NASDAQ:CASY – Get Rating) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,768 shares of the company’s stock, valued at approximately $397,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Blueshift Asset Management LLC purchased a new position in shares of Casey’s General Stores during the 3rd quarter valued at about $287,000. Bank of New York Mellon Corp raised its stake in Casey’s General Stores by 3.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 489,819 shares of the company’s stock valued at $99,197,000 after purchasing an additional 15,562 shares during the period. State Board of Administration of Florida Retirement System raised its stake in Casey’s General Stores by 0.6% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 40,164 shares of the company’s stock valued at $9,011,000 after purchasing an additional 250 shares during the period. Lido Advisors LLC bought a new stake in Casey’s General Stores during the 3rd quarter valued at approximately $751,000. Finally, Dfpg Investments LLC bought a new stake in Casey’s General Stores during the 4th quarter valued at approximately $519,000. 84.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on CASY shares. StockNews.com started coverage on Casey’s General Stores in a research note on Thursday, May 18th. They set a “strong-buy” rating on the stock. Credit Suisse Group reissued a “neutral” rating and set a $254.00 target price on shares of Casey’s General Stores in a research note on Thursday, March 9th. JPMorgan Chase & Co. raised Casey’s General Stores from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $173.00 to $211.00 in a research note on Friday, March 3rd. Royal Bank of Canada lifted their price objective on Casey’s General Stores from $268.00 to $273.00 and gave the stock a “sector perform” rating in a research note on Wednesday, March 8th. Finally, Stephens reaffirmed an “overweight” rating and issued a $280.00 price objective on shares of Casey’s General Stores in a research note on Wednesday, March 8th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $260.50.

Casey’s General Stores Stock Performance

NASDAQ CASY opened at $227.22 on Wednesday. The company has a market cap of $8.47 billion, a P/E ratio of 18.89 and a beta of 0.82. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.66 and a current ratio of 1.10. The business’s 50 day moving average price is $222.74 and its 200-day moving average price is $226.08. Casey’s General Stores, Inc. has a fifty-two week low of $181.40 and a fifty-two week high of $249.90.

Casey’s General Stores (NASDAQ:CASY – Get Rating) last released its earnings results on Wednesday, March 8th. The company reported $2.36 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.53. The firm had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.35 billion. Casey’s General Stores had a return on equity of 18.02% and a net margin of 2.96%. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.71 EPS. Sell-side analysts predict that Casey’s General Stores, Inc. will post 11.66 earnings per share for the current year.

Casey’s General Stores Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Monday, May 1st were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Friday, April 28th. Casey’s General Stores’s dividend payout ratio is currently 12.64%.

Casey’s General Stores Company Profile

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Casey’s General Stores, Inc engages in the management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.