Casey’s General Stores, Inc. (NASDAQ:CASY) Given Average Recommendation of “Moderate Buy” by Analysts

Casey’s General Stores, Inc. (NASDAQ:CASY) has been given an average rating of “Moderate Buy” by the eight research firms that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $308.44.

Several brokerages have recently issued reports on CASY. StockNews.com lowered Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 21st. Wells Fargo & Company boosted their target price on Casey’s General Stores from $305.00 to $340.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Evercore ISI reduced their target price on Casey’s General Stores from $355.00 to $350.00 and set an “outperform” rating for the company in a report on Tuesday, April 2nd. Benchmark restated a “buy” rating and issued a $312.00 target price on shares of Casey’s General Stores in a report on Wednesday, March 6th. Finally, BMO Capital Markets boosted their target price on Casey’s General Stores from $290.00 to $305.00 and gave the stock a “market perform” rating in a report on Wednesday, March 13th.

Institutional Trading of Casey’s General Stores

Institutional investors and hedge funds have recently modified their holdings of the company. Money Concepts Capital Corp grew its position in Casey’s General Stores by 62.7% in the fourth quarter. Money Concepts Capital Corp now owns 122 shares of the company’s stock valued at $27,000 after acquiring an additional 47 shares during the period. Point72 Europe London LLP bought a new stake in Casey’s General Stores in the fourth quarter valued at $27,000. BKM Wealth Management LLC bought a new stake in Casey’s General Stores in the fourth quarter valued at $29,000. Rise Advisors LLC bought a new stake in Casey’s General Stores in the first quarter valued at $30,000. Finally, Sunbelt Securities Inc. grew its position in Casey’s General Stores by 46.6% in the second quarter. Sunbelt Securities Inc. now owns 129 shares of the company’s stock valued at $31,000 after acquiring an additional 41 shares during the period. 85.63% of the stock is currently owned by institutional investors.

Casey’s General Stores Trading Up 0.1 %

Shares of CASY opened at $310.06 on Friday. The business’s 50-day moving average price is $301.69 and its 200 day moving average price is $284.82. The stock has a market capitalization of $11.48 billion, a P/E ratio of 24.65, a P/E/G ratio of 2.48 and a beta of 0.83. Casey’s General Stores has a 1-year low of $212.50 and a 1-year high of $324.40. The company has a current ratio of 0.89, a quick ratio of 0.42 and a debt-to-equity ratio of 0.54.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Tuesday, March 12th. The company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.13. The firm had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.51 billion. Casey’s General Stores had a return on equity of 16.70% and a net margin of 3.23%. Casey’s General Stores’s revenue was down .1% on a year-over-year basis. During the same quarter last year, the business posted $2.36 EPS. Analysts expect that Casey’s General Stores will post 12.81 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Tuesday, April 30th. Casey’s General Stores’s dividend payout ratio is presently 13.67%.

About Casey’s General Stores

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 pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.