Analysts Set Casey’s General Stores, Inc. (NASDAQ:CASY) Price Target at $700.09

Shares of Casey’s General Stores, Inc. (NASDAQ:CASY) have been assigned an average recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $700.0909.

Several analysts have recently commented on the company. The Goldman Sachs Group raised their target price on Casey’s General Stores from $530.00 to $605.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 11th. Zacks Research cut shares of Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 23rd. Northcoast Research cut shares of Casey’s General Stores from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 21st. UBS Group lifted their target price on shares of Casey’s General Stores from $600.00 to $706.00 and gave the company a “neutral” rating in a research note on Wednesday, March 11th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Casey’s General Stores in a research note on Friday, March 27th.

Casey’s General Stores Stock Performance

Shares of CASY opened at $736.83 on Thursday. Casey’s General Stores has a one year low of $430.00 and a one year high of $774.23. The company has a 50-day moving average of $691.15 and a two-hundred day moving average of $610.26. The stock has a market cap of $27.23 billion, a price-to-earnings ratio of 42.30, a PEG ratio of 2.42 and a beta of 0.61. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.04 and a quick ratio of 0.64.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Monday, March 9th. The company reported $3.49 EPS for the quarter, topping the consensus estimate of $2.94 by $0.55. The company had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Casey’s General Stores had a net margin of 3.83% and a return on equity of 17.56%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same period last year, the company posted $2.33 earnings per share. On average, equities research analysts expect that Casey’s General Stores will post 13.94 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 1st will be given a $0.57 dividend. The ex-dividend date of this dividend is Friday, May 1st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.3%. Casey’s General Stores’s payout ratio is currently 13.09%.

Insider Transactions at Casey’s General Stores

In other Casey’s General Stores news, insider Katrina S. Lindsey sold 200 shares of the business’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $683.04, for a total value of $136,608.00. Following the completion of the sale, the insider owned 4,039 shares of the company’s stock, valued at $2,758,798.56. The trade was a 4.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mike Spanos purchased 300 shares of Casey’s General Stores stock in a transaction on Friday, March 13th. The stock was bought at an average cost of $665.43 per share, with a total value of $199,629.00. Following the transaction, the director directly owned 4,499 shares of the company’s stock, valued at approximately $2,993,769.57. The trade was a 7.14% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.54% of the stock is owned by insiders.

Institutional Trading of Casey’s General Stores

A number of institutional investors and hedge funds have recently modified their holdings of CASY. Foster Dykema Cabot & Partners LLC acquired a new stake in shares of Casey’s General Stores in the third quarter worth $25,000. Westside Investment Management Inc. lifted its stake in shares of Casey’s General Stores by 100.0% in the third quarter. Westside Investment Management Inc. now owns 46 shares of the company’s stock worth $26,000 after buying an additional 23 shares during the last quarter. Central Pacific Bank Trust Division lifted its stake in shares of Casey’s General Stores by 52.8% in the fourth quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock worth $30,000 after buying an additional 19 shares during the last quarter. True Wealth Design LLC lifted its position in shares of Casey’s General Stores by 350.0% during the 4th quarter. True Wealth Design LLC now owns 54 shares of the company’s stock worth $30,000 after purchasing an additional 42 shares during the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new position in shares of Casey’s General Stores during the 3rd quarter worth about $33,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.

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.