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

Shares of Casey’s General Stores, Inc. (NASDAQ:CASY) have been assigned a consensus rating of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $564.00.

Several research firms recently weighed in on CASY. Stephens restated an “overweight” rating and issued a $570.00 price objective on shares of Casey’s General Stores in a report on Wednesday, October 8th. KeyCorp increased their target price on shares of 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. BMO Capital Markets raised their target price on shares of Casey’s General Stores from $515.00 to $540.00 and gave the company a “market perform” rating in a research note on Wednesday, September 10th. The Goldman Sachs Group upped their price target on Casey’s General Stores from $450.00 to $490.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 10th. Finally, Wells Fargo & Company began coverage on Casey’s General Stores in a research report on Wednesday, October 15th. They issued an “overweight” rating and a $610.00 price objective for the company.

Casey’s General Stores Stock Up 0.3%

Shares of NASDAQ:CASY opened at $538.19 on Monday. The firm has a market capitalization of $20.01 billion, a PE ratio of 34.54 and a beta of 0.66. The business has a 50 day simple moving average of $545.38 and a two-hundred day simple moving average of $510.91. 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.

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

Casey’s General Stores Dividend Announcement

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

Insider Buying and Selling

In other Casey’s General Stores news, insider Chad Michael Frazell sold 3,487 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $555.40, for a total transaction of $1,936,679.80. Following the sale, the insider owned 7,993 shares of the company’s stock, valued at approximately $4,439,312.20. The trade was a 30.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.54% of the stock is owned by company insiders.

Institutional Investors Weigh In On Casey’s General Stores

A number of large investors have recently made changes to their positions in CASY. Foster Dykema Cabot & Partners LLC purchased a new position in Casey’s General Stores in the 3rd quarter worth $25,000. Westside Investment Management Inc. increased its holdings in shares of Casey’s General Stores by 100.0% in the third 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 period. Summit Securities Group LLC purchased a new position in shares of Casey’s General Stores in the first quarter worth about $32,000. Nvwm LLC purchased a new position in shares of Casey’s General Stores in the second quarter worth about $32,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of Casey’s General Stores during the third quarter worth about $33,000. 85.63% of the stock is 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.