Casey’s General Stores, Inc. (NASDAQ:CASY) Receives $536.10 Average PT from Brokerages

Casey’s General Stores, Inc. (NASDAQ:CASY) has received an average recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $536.10.

Several equities analysts have recently issued reports on the company. BMO Capital Markets lifted their price target on Casey’s General Stores from $515.00 to $540.00 and gave the company a “market perform” rating in a research report on Wednesday, September 10th. Evercore ISI lifted their target price on Casey’s General Stores from $560.00 to $580.00 and gave the stock an “outperform” rating in a report on Wednesday, September 10th. Jefferies Financial Group lifted their target price on Casey’s General Stores from $575.00 to $600.00 and gave the stock a “buy” rating in a report on Tuesday, September 9th. Royal Bank Of Canada lifted their target price on Casey’s General Stores from $468.00 to $542.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 9th. Finally, Wells Fargo & Company initiated coverage on Casey’s General Stores in a report on Wednesday. They issued an “overweight” rating and a $610.00 target price on the stock.

Casey’s General Stores Stock Up 1.0%

Shares of CASY stock opened at $567.05 on Thursday. Casey’s General Stores has a 1 year low of $372.08 and a 1 year high of $572.18. The stock has a market cap of $21.08 billion, a PE ratio of 36.40 and a beta of 0.68. The business’s fifty day moving average is $534.08 and its 200-day moving average is $498.14. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.61 and a current ratio of 1.03.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Monday, September 8th. The company reported $5.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.02 by $0.75. Casey’s General Stores had a return on equity of 16.73% and a net margin of 3.54%.The company had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.47 billion. During the same period last year, the firm earned $4.83 EPS. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. Equities analysts expect that Casey’s General Stores will post 13.94 earnings per share 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 14th. Investors of record on Saturday, November 1st will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Friday, October 31st. Casey’s General Stores’s payout ratio is presently 14.63%.

Insider Activity

In related news, insider Chad Michael Frazell sold 3,487 shares of Casey’s General Stores stock in a transaction on Monday, September 29th. The stock was sold at an average price of $555.40, for a total value of $1,936,679.80. Following the transaction, the insider directly owned 7,993 shares in the company, valued at $4,439,312.20. The trade was a 30.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.54% of the stock is owned by insiders.

Institutional Trading of Casey’s General Stores

Several hedge funds and other institutional investors have recently modified their holdings of the business. Steph & Co. boosted its position in shares of Casey’s General Stores by 2.2% in the third quarter. Steph & Co. now owns 819 shares of the company’s stock worth $463,000 after buying an additional 18 shares during the period. AdvisorNet Financial Inc boosted its position in shares of Casey’s General Stores by 2.8% in the third quarter. AdvisorNet Financial Inc now owns 724 shares of the company’s stock worth $409,000 after buying an additional 20 shares during the period. Valmark Advisers Inc. boosted its position in shares of Casey’s General Stores by 0.5% in the second quarter. Valmark Advisers Inc. now owns 4,404 shares of the company’s stock worth $2,247,000 after buying an additional 21 shares during the period. Panagora Asset Management Inc. boosted its position in shares of Casey’s General Stores by 0.5% in the second quarter. Panagora Asset Management Inc. now owns 4,147 shares of the company’s stock worth $2,116,000 after buying an additional 21 shares during the period. Finally, Flagship Harbor Advisors LLC boosted its position in shares of Casey’s General Stores by 4.1% in the first quarter. Flagship Harbor Advisors LLC now owns 590 shares of the company’s stock worth $256,000 after buying an additional 23 shares during the period. Institutional investors and hedge funds own 85.63% of the company’s stock.

About Casey’s General Stores

Casey’s General Stores, Inc engages in the provision of 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.