Casey’s General Stores, Inc. to Issue Quarterly Dividend of $0.35 (NASDAQ:CASY)

Casey’s General Stores, Inc. (NASDAQ:CASYGet Rating) declared a quarterly dividend on Tuesday, March 8th, Zacks reports. Shareholders of record on Monday, May 2nd will be given a dividend of 0.35 per share on Monday, May 16th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Friday, April 29th.

Casey’s General Stores has increased its dividend by an average of 6.9% per year over the last three years and has raised its dividend annually for the last 23 consecutive years. Casey’s General Stores has a dividend payout ratio of 14.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Casey’s General Stores to earn $9.25 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 15.1%.

Casey’s General Stores stock opened at $206.05 on Wednesday. Casey’s General Stores has a 1-year low of $170.82 and a 1-year high of $229.18. The firm has a market capitalization of $7.65 billion, a price-to-earnings ratio of 23.93 and a beta of 0.84. The firm’s fifty day moving average price is $194.72 and its two-hundred day moving average price is $193.01. The company has a current ratio of 0.84, a quick ratio of 0.39 and a debt-to-equity ratio of 0.81.

Casey’s General Stores (NASDAQ:CASYGet Rating) last released its quarterly earnings results on Tuesday, March 8th. The company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.26. Casey’s General Stores had a net margin of 2.71% and a return on equity of 15.56%. The company had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same period last year, the firm earned $1.04 earnings per share. The firm’s revenue was up 51.8% on a year-over-year basis. On average, research analysts forecast that Casey’s General Stores will post 8.84 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Casey’s General Stores by 1.9% in the fourth quarter. BlackRock Inc. now owns 3,072,973 shares of the company’s stock worth $606,451,000 after purchasing an additional 57,917 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Casey’s General Stores by 19.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 152,004 shares of the company’s stock worth $29,998,000 after purchasing an additional 25,036 shares in the last quarter. Morgan Stanley boosted its position in shares of Casey’s General Stores by 79.7% in the second quarter. Morgan Stanley now owns 118,252 shares of the company’s stock valued at $23,017,000 after acquiring an additional 52,443 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of Casey’s General Stores by 66.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 29,746 shares of the company’s stock valued at $5,870,000 after acquiring an additional 11,926 shares during the period. Finally, LPL Financial LLC boosted its position in shares of Casey’s General Stores by 8.4% in the fourth quarter. LPL Financial LLC now owns 13,278 shares of the company’s stock valued at $2,615,000 after acquiring an additional 1,025 shares during the period. Hedge funds and other institutional investors own 85.44% of the company’s stock.

A number of research analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Casey’s General Stores in a research report on Thursday, March 31st. They set a “buy” rating on the stock. Royal Bank of Canada decreased their price objective on shares of Casey’s General Stores from $237.00 to $235.00 and set a “sector perform” rating for the company in a report on Wednesday, March 9th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Casey’s General Stores from $257.00 to $259.00 and gave the stock a “buy” rating in a report on Thursday, March 10th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $232.70.

Casey’s General Stores Company Profile (Get Rating)

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer a selection of food, including freshly prepared foods, such as pizza, donuts, and sandwiches; tobacco, and nicotine products; health and beauty aids; automotive products; and other nonfood items.

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Dividend History for Casey's General Stores (NASDAQ:CASY)

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