Casey’s General Stores (NASDAQ:CASY) Upgraded at Zacks Research

Zacks Research upgraded shares of Casey’s General Stores (NASDAQ:CASY) from a hold rating to a strong-buy rating in a research report sent to investors on Monday,Zacks.com reports.

Several other analysts also recently issued reports on the company. Stephens lifted their price target on Casey’s General Stores from $570.00 to $600.00 and gave the company an “overweight” rating in a research note on Wednesday, December 3rd. Evercore ISI boosted their target price on Casey’s General Stores from $585.00 to $610.00 and gave the company an “outperform” rating in a research note on Tuesday, December 2nd. Wells Fargo & Company raised their price target on shares of Casey’s General Stores from $610.00 to $625.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. UBS Group reiterated a “neutral” rating on shares of Casey’s General Stores in a report on Thursday, December 11th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Casey’s General Stores in a research report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $595.90.

Casey’s General Stores Stock Performance

Shares of CASY opened at $616.30 on Monday. The firm has a market cap of $22.85 billion, a P/E ratio of 37.90, a PEG ratio of 2.14 and a beta of 0.67. Casey’s General Stores has a twelve month low of $372.08 and a twelve month high of $622.00. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.65 and a current ratio of 1.05. The firm’s 50 day moving average price is $559.59 and its two-hundred day moving average price is $539.71.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Tuesday, December 9th. The company reported $5.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.92 by $0.61. The company had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.51 billion. Casey’s General Stores had a net margin of 3.58% and a return on equity of 16.89%. The firm’s revenue was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.85 earnings per share. On average, analysts forecast 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 declared a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Sunday, February 1st will be paid a $0.57 dividend. The ex-dividend date is Friday, January 30th. This represents a $2.28 dividend on an annualized basis and a yield of 0.4%. Casey’s General Stores’s dividend payout ratio (DPR) is currently 14.02%.

Insider Buying and Selling at Casey’s General Stores

In other news, Director Moats Maria Castanon acquired 300 shares of the stock in a transaction dated Monday, January 5th. The shares were bought at an average cost of $554.66 per share, for a total transaction of $166,398.00. Following the purchase, the director directly owned 803 shares of the company’s stock, valued at approximately $445,391.98. This trade represents a 59.64% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.54% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Casey’s General Stores

A number of institutional investors have recently bought and sold shares of CASY. Foster Dykema Cabot & Partners LLC bought a new position in shares of Casey’s General Stores during the 3rd quarter worth approximately $25,000. Westside Investment Management Inc. lifted its holdings in Casey’s General Stores by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 46 shares of the company’s stock valued at $26,000 after purchasing an additional 23 shares during the last quarter. Central Pacific Bank Trust Division boosted its position in Casey’s General Stores by 52.8% during the fourth quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock worth $30,000 after purchasing an additional 19 shares during the period. True Wealth Design LLC increased its holdings in shares of Casey’s General Stores by 350.0% in the fourth quarter. True Wealth Design LLC now owns 54 shares of the company’s stock valued at $30,000 after purchasing an additional 42 shares during the last quarter. Finally, Nvwm LLC acquired a new position in shares of Casey’s General Stores in the second quarter valued at $32,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

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.