Casey’s General Stores, Inc. (NASDAQ:CASY – Get Free Report) announced a quarterly dividend on Tuesday, September 8th. Shareholders of record on Sunday, November 1st will be given a dividend of 0.65 per share on Friday, November 13th. This represents a c) dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Friday, October 30th.
Casey’s General Stores has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 24 years. Casey’s General Stores has a payout ratio of 14.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Casey’s General Stores to earn $23.44 per share next year, which means the company should continue to be able to cover its $2.60 annual dividend with an expected future payout ratio of 11.1%.
Casey’s General Stores Price Performance
Shares of Casey’s General Stores stock opened at $733.49 on Wednesday. The company has a market capitalization of $27.14 billion, a price-to-earnings ratio of 38.28, a PEG ratio of 2.58 and a beta of 0.59. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The stock’s 50-day simple moving average is $825.39 and its 200-day simple moving average is $786.82. Casey’s General Stores has a 52 week low of $497.38 and a 52 week high of $927.85.
Analysts Set New Price Targets
Several research analysts have weighed in on the company. JPMorgan Chase & Co. dropped their price target on Casey’s General Stores from $975.00 to $833.00 and set a “neutral” rating for the company in a research note on Thursday, September 3rd. Capital One Financial started coverage on shares of Casey’s General Stores in a research report on Monday, June 22nd. They set an “equal weight” rating and a $896.00 price objective on the stock. Wells Fargo & Company boosted their target price on shares of Casey’s General Stores from $910.00 to $960.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. Evercore reissued an “outperform” rating and issued a $990.00 target price on shares of Casey’s General Stores in a report on Friday, June 12th. Finally, William Blair started coverage on shares of Casey’s General Stores in a research report on Wednesday, May 20th. They set an “outperform” rating for the company. Fourteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $928.53.
Check Out Our Latest Research Report on Casey’s General Stores
About Casey’s General Stores
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.
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