Casey’s General Stores, Inc. (NASDAQ:CASY) Receives $424.00 Average PT from Brokerages

Casey’s General Stores, Inc. (NASDAQ:CASY) has earned a consensus rating of “Moderate Buy” from the eleven ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $424.00.

Several research firms recently weighed in on CASY. Royal Bank of Canada increased their price target on Casey’s General Stores from $403.00 to $428.00 and gave the company a “sector perform” rating in a report on Tuesday, December 10th. Gordon Haskett upgraded shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Thursday. BMO Capital Markets restated a “market perform” rating and issued a $450.00 target price (up previously from $400.00) on shares of Casey’s General Stores in a report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Casey’s General Stores from $451.00 to $454.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, StockNews.com lowered Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Monday, February 10th.

Insider Buying and Selling at Casey’s General Stores

In other Casey’s General Stores news, Director Mike Spanos acquired 500 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were purchased at an average cost of $396.76 per share, for a total transaction of $198,380.00. Following the completion of the purchase, the director now owns 3,097 shares in the company, valued at approximately $1,228,765.72. This trade represents a 19.25 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Katrina S. Lindsey sold 450 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $427.13, for a total transaction of $192,208.50. Following the completion of the transaction, the insider now directly owns 2,247 shares of the company’s stock, valued at $959,761.11. This trade represents a 16.69 % decrease in their position. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CASY. Raymond James Financial Inc. purchased a new stake in shares of Casey’s General Stores during the 4th quarter worth $236,500,000. Norges Bank purchased a new position in Casey’s General Stores in the fourth quarter worth $175,607,000. Wellington Management Group LLP increased its position in shares of Casey’s General Stores by 160.1% during the fourth quarter. Wellington Management Group LLP now owns 428,201 shares of the company’s stock worth $169,666,000 after purchasing an additional 263,545 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Casey’s General Stores during the 3rd quarter valued at $959,880,000. Finally, Franklin Resources Inc. boosted its position in shares of Casey’s General Stores by 49.9% in the 3rd quarter. Franklin Resources Inc. now owns 524,237 shares of the company’s stock worth $204,861,000 after purchasing an additional 174,586 shares in the last quarter. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Casey’s General Stores Stock Performance

Shares of NASDAQ:CASY opened at $432.17 on Friday. The firm has a fifty day simple moving average of $410.19 and a two-hundred day simple moving average of $395.24. Casey’s General Stores has a 52 week low of $284.57 and a 52 week high of $445.17. The company has a quick ratio of 0.49, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $16.04 billion, a P/E ratio of 30.12, a PEG ratio of 2.48 and a beta of 0.83.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Monday, December 9th. The company reported $4.85 earnings per share for the quarter, topping the consensus estimate of $4.29 by $0.56. The company had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $4.03 billion. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $4.24 earnings per share. On average, analysts expect that Casey’s General Stores will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 17th. Shareholders of record on Monday, February 3rd will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.00 annualized dividend and a yield of 0.46%. Casey’s General Stores’s payout ratio is currently 13.94%.

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.