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

Casey’s General Stores, Inc. (NASDAQ:CASY) has earned a consensus recommendation of “Moderate Buy” from the eleven research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $424.00.

A number of brokerages recently weighed in on CASY. Evercore ISI raised their price objective on Casey’s General Stores from $450.00 to $460.00 and gave the company an “outperform” rating in a research report on Tuesday, April 1st. Royal Bank of Canada set a $438.00 price target on shares of Casey’s General Stores and gave the company a “sector perform” rating in a report on Wednesday, March 12th. BMO Capital Markets reiterated a “market perform” rating and set a $450.00 price objective (up previously from $400.00) on shares of Casey’s General Stores in a research note on Wednesday, December 18th. StockNews.com cut shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Finally, Gordon Haskett raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Thursday, February 13th.

Insider Buying and Selling

In other Casey’s General Stores news, Director Mike Spanos bought 256 shares of Casey’s General Stores stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average price of $390.54 per share, with a total value of $99,978.24. Following the completion of the acquisition, the director now directly owns 3,356 shares in the company, valued at approximately $1,310,652.24. This trade represents a 8.26 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On Casey’s General Stores

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CASY. Versant Capital Management Inc acquired a new stake in Casey’s General Stores during the first quarter worth about $25,000. Fire Capital Management LLC acquired a new stake in shares of Casey’s General Stores during the 4th quarter worth approximately $544,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Casey’s General Stores by 5.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,875 shares of the company’s stock worth $1,139,000 after purchasing an additional 161 shares during the period. Jefferies Financial Group Inc. increased its holdings in shares of Casey’s General Stores by 44.3% during the 4th quarter. Jefferies Financial Group Inc. now owns 1,511 shares of the company’s stock valued at $599,000 after purchasing an additional 464 shares in the last quarter. Finally, Heck Capital Advisors LLC acquired a new position in shares of Casey’s General Stores in the 4th quarter valued at $79,000. 85.63% of the stock is owned by institutional investors and hedge funds.

Casey’s General Stores Price Performance

Shares of CASY opened at $415.82 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.49 and a current ratio of 0.88. The company has a 50 day moving average price of $416.73 and a 200-day moving average price of $405.02. Casey’s General Stores has a fifty-two week low of $306.45 and a fifty-two week high of $458.92. The stock has a market capitalization of $15.43 billion, a PE ratio of 28.98, a PEG ratio of 2.40 and a beta of 0.74.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Tuesday, March 11th. The company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.57. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The company had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.74 billion. During the same quarter in the prior year, the business earned $2.33 earnings per share. Casey’s General Stores’s revenue was up 17.2% on a year-over-year basis. Equities analysts predict that Casey’s General Stores will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Thursday, May 1st. Casey’s General Stores’s dividend payout ratio is presently 13.94%.

About Casey’s General Stores

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.