Casey’s General Stores, Inc. (NASDAQ:CASY) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Casey’s General Stores, Inc. (NASDAQ:CASY) have been given a consensus rating of “Moderate Buy” by the eleven research firms that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $564.00.

A number of research analysts have recently weighed in on CASY shares. Evercore ISI increased their target price on shares of Casey’s General Stores from $580.00 to $585.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. The Goldman Sachs Group upped their price objective on Casey’s General Stores from $450.00 to $490.00 and gave the company a “neutral” rating in a research note on Wednesday, September 10th. Stephens reissued an “overweight” rating and set a $570.00 price objective on shares of Casey’s General Stores in a report on Wednesday, October 8th. Weiss Ratings restated a “buy (b)” rating on shares of Casey’s General Stores in a research note on Wednesday, October 8th. Finally, KeyCorp upped their price target on Casey’s General Stores from $550.00 to $575.00 and gave the company an “overweight” rating in a research report on Friday, July 25th.

Casey’s General Stores Trading Up 2.0%

Shares of Casey’s General Stores stock opened at $533.57 on Monday. The firm has a market cap of $19.84 billion, a PE ratio of 34.25 and a beta of 0.66. Casey’s General Stores has a 1 year low of $372.08 and a 1 year high of $572.18. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.03 and a quick ratio of 0.61. The stock has a fifty day moving average price of $541.66 and a 200-day moving average price of $508.05.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Monday, September 8th. The company reported $5.77 earnings per share for the quarter, topping analysts’ consensus estimates of $5.02 by $0.75. Casey’s General Stores had a net margin of 3.54% and a return on equity of 16.73%. The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.47 billion. During the same period in the previous year, the firm earned $4.83 EPS. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. Equities research analysts anticipate that Casey’s General Stores will post 13.94 EPS for the current year.

Casey’s General Stores Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Saturday, November 1st will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $2.28 annualized dividend and a yield of 0.4%. Casey’s General Stores’s dividend payout ratio is 14.63%.

Insiders Place Their Bets

In other news, insider Chad Michael Frazell sold 3,487 shares of Casey’s General Stores stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $555.40, for a total value of $1,936,679.80. Following the completion of the transaction, the insider owned 7,993 shares in the company, valued at $4,439,312.20. This trade represents a 30.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.54% of the stock is owned by corporate insiders.

Institutional Trading of Casey’s General Stores

Institutional investors have recently modified their holdings of the business. Samlyn Capital LLC lifted its holdings in shares of Casey’s General Stores by 42.8% in the first quarter. Samlyn Capital LLC now owns 255,659 shares of the company’s stock worth $110,966,000 after buying an additional 76,673 shares in the last quarter. UNIVEST FINANCIAL Corp increased its holdings in Casey’s General Stores by 157.2% during the 2nd quarter. UNIVEST FINANCIAL Corp now owns 8,556 shares of the company’s stock worth $4,366,000 after acquiring an additional 5,230 shares during the period. M&T Bank Corp lifted its stake in Casey’s General Stores by 39.6% in the 1st quarter. M&T Bank Corp now owns 2,515 shares of the company’s stock worth $1,092,000 after purchasing an additional 713 shares in the last quarter. Ground Swell Capital LLC purchased a new stake in Casey’s General Stores in the 1st quarter worth approximately $338,000. Finally, Meridian Wealth Management LLC boosted its holdings in Casey’s General Stores by 71.6% in the 1st quarter. Meridian Wealth Management LLC now owns 1,215 shares of the company’s stock valued at $527,000 after purchasing an additional 507 shares during the period. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Casey’s General Stores Company Profile

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.