Casey’s General Stores, Inc. (NASDAQ:CASY) Receives $401.20 Average PT from Brokerages

Casey’s General Stores, Inc. (NASDAQ:CASY) has received a consensus recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $401.20.

A number of research analysts recently commented on CASY shares. BMO Capital Markets increased their target price on Casey’s General Stores from $305.00 to $400.00 and gave the company a “market perform” rating in a research note on Thursday, June 13th. Northcoast Research upgraded Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $410.00 price objective on the stock in a research report on Thursday, July 11th. StockNews.com lowered Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 3rd. Wells Fargo & Company lifted their price target on shares of Casey’s General Stores from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Casey’s General Stores from $420.00 to $444.00 and gave the stock a “buy” rating in a report on Monday, July 29th.

Casey’s General Stores Stock Down 0.1 %

Shares of NASDAQ CASY opened at $381.63 on Wednesday. The company has a current ratio of 0.84, a quick ratio of 0.44 and a debt-to-equity ratio of 0.44. The business has a 50-day moving average of $373.93 and a 200-day moving average of $345.61. The firm has a market capitalization of $14.16 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 2.58 and a beta of 0.80. Casey’s General Stores has a 12 month low of $260.13 and a 12 month high of $401.07.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, topping analysts’ consensus estimates of $4.54 by $0.29. The business had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.52 EPS. Sell-side analysts expect that Casey’s General Stores will post 14.15 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 Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend is Friday, November 1st. Casey’s General Stores’s dividend payout ratio (DPR) is 14.89%.

Insider Transactions at Casey’s General Stores

In other Casey’s General Stores news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $380.24, for a total transaction of $1,140,720.00. Following the completion of the transaction, the insider now owns 9,044 shares of the company’s stock, valued at approximately $3,438,890.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Darren M. Rebelez sold 13,500 shares of Casey’s General Stores stock in a transaction on Friday, September 6th. The shares were sold at an average price of $374.54, for a total value of $5,056,290.00. Following the sale, the chief executive officer now owns 73,838 shares in the company, valued at $27,655,284.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Thomas P. Brennan, Jr. sold 3,000 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $380.24, for a total transaction of $1,140,720.00. Following the completion of the transaction, the insider now owns 9,044 shares of the company’s stock, valued at $3,438,890.56. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Casey’s General Stores

A number of large investors have recently modified their holdings of the stock. Janus Henderson Group PLC lifted its holdings in Casey’s General Stores by 1.4% in the first quarter. Janus Henderson Group PLC now owns 768,060 shares of the company’s stock worth $244,592,000 after buying an additional 10,841 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Casey’s General Stores by 3.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 468,650 shares of the company’s stock worth $178,822,000 after acquiring an additional 14,750 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Casey’s General Stores by 20.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 458,044 shares of the company’s stock valued at $174,771,000 after purchasing an additional 77,515 shares during the period. Norges Bank bought a new stake in shares of Casey’s General Stores during the fourth quarter valued at approximately $115,799,000. Finally, Congress Asset Management Co. MA bought a new stake in shares of Casey’s General Stores during the first quarter valued at approximately $112,081,000. Institutional investors own 85.63% of the company’s stock.

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.