Casey’s General Stores, Inc. (NASDAQ:CASY) Receives $430.33 Average Target Price from Brokerages

Casey’s General Stores, Inc. (NASDAQ:CASY) has been assigned a consensus rating of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, eight have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $430.33.

Several brokerages recently issued reports on CASY. Evercore ISI raised their target price on shares of Casey’s General Stores from $450.00 to $460.00 and gave the stock an “outperform” rating in a report on Tuesday, April 1st. StockNews.com cut Casey’s General Stores from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. KeyCorp began coverage on Casey’s General Stores in a report on Friday, April 11th. They issued an “overweight” rating and a $500.00 price objective for the company. Gordon Haskett upgraded Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Finally, Stephens raised Casey’s General Stores to a “strong-buy” rating in a report on Monday, April 7th.

Casey’s General Stores Stock Performance

Shares of CASY stock opened at $450.43 on Monday. Casey’s General Stores has a 12 month low of $313.89 and a 12 month high of $474.97. The stock has a market cap of $16.72 billion, a PE ratio of 31.39, a price-to-earnings-growth ratio of 2.40 and a beta of 0.70. The company has a current ratio of 0.88, a quick ratio of 0.49 and a debt-to-equity ratio of 0.74. The company’s fifty day moving average price is $440.73 and its 200-day moving average price is $420.94.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Tuesday, March 11th. The company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.76 by $0.57. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The company had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.74 billion. During the same period in the prior year, the firm posted $2.33 EPS. Casey’s General Stores’s revenue for the quarter was up 17.2% on a year-over-year basis. On average, equities analysts expect that Casey’s General Stores will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, May 1st. This represents a $2.00 annualized dividend and a dividend yield of 0.44%. Casey’s General Stores’s payout ratio is 13.94%.

Insider Activity at Casey’s General Stores

In related news, Director Mike Spanos purchased 256 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were acquired at an average price of $390.54 per share, for a total transaction of $99,978.24. Following the purchase, the director now directly owns 3,356 shares in the company, valued at $1,310,652.24. This trade represents a 8.26% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Katrina S. Lindsey sold 250 shares of the business’s stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $437.01, for a total value of $109,252.50. Following the completion of the sale, the insider now owns 2,443 shares in the company, valued at $1,067,615.43. This represents a 9.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.56% of the stock is owned by corporate insiders.

Institutional Trading of Casey’s General Stores

A number of large investors have recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in shares of Casey’s General Stores by 110.5% in the 3rd quarter. Barclays PLC now owns 22,487 shares of the company’s stock valued at $8,450,000 after acquiring an additional 11,802 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Casey’s General Stores by 18.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company’s stock worth $285,090,000 after purchasing an additional 119,350 shares during the period. Park Avenue Securities LLC increased its position in shares of Casey’s General Stores by 29.3% during the 4th quarter. Park Avenue Securities LLC now owns 1,577 shares of the company’s stock valued at $625,000 after purchasing an additional 357 shares during the last quarter. HB Wealth Management LLC purchased a new stake in Casey’s General Stores during the 4th quarter valued at $251,000. Finally, Smith Salley Wealth Management lifted its position in Casey’s General Stores by 1.9% in the fourth quarter. Smith Salley Wealth Management now owns 29,783 shares of the company’s stock worth $11,801,000 after buying an additional 548 shares during the last quarter. Institutional investors 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.