Casey’s General Stores (NASDAQ:CASY) Price Target Raised to $169.00

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Casey’s General Stores (NASDAQ:CASY) had its target price raised by JPMorgan Chase & Co. from $152.00 to $169.00 in a research report released on Thursday, BenzingaRatingsTable reports. The firm currently has a neutral rating on the stock.

A number of other equities research analysts have also recently issued reports on CASY. Barclays upped their price objective on shares of Casey’s General Stores from $140.00 to $170.00 and gave the stock an equal weight rating in a report on Wednesday. G.Research cut shares of Casey’s General Stores from a buy rating to a hold rating in a report on Wednesday, August 7th. Stephens upped their price objective on shares of Casey’s General Stores from $181.00 to $197.00 and gave the stock an overweight rating in a report on Wednesday. Deutsche Bank upped their price objective on shares of Casey’s General Stores from $166.00 to $185.00 and gave the stock a buy rating in a report on Tuesday, September 3rd. Finally, Gabelli cut shares of Casey’s General Stores from a buy rating to a hold rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The company has a consensus rating of Hold and an average target price of $172.00.

NASDAQ:CASY traded up $1.18 during trading hours on Thursday, reaching $170.98. The company’s stock had a trading volume of 330,774 shares, compared to its average volume of 338,992. The company has a market cap of $6.34 billion, a price-to-earnings ratio of 31.03, a price-to-earnings-growth ratio of 3.24 and a beta of 0.55. Casey’s General Stores has a one year low of $116.23 and a one year high of $173.31. The business’s 50-day moving average is $167.08 and its 200-day moving average is $145.70. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.76 and a quick ratio of 0.23.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Monday, September 9th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.03 by $0.28. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Casey’s General Stores had a net margin of 2.34% and a return on equity of 15.55%. Casey’s General Stores’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.90 earnings per share. On average, sell-side analysts predict that Casey’s General Stores will post 6.04 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Thursday, October 31st. Casey’s General Stores’s dividend payout ratio (DPR) is 23.23%.

In other Casey’s General Stores news, Director H Lynn Horak sold 3,000 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $154.55, for a total transaction of $463,650.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Brian Joseph Johnson sold 4,000 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $156.48, for a total transaction of $625,920.00. Following the sale, the senior vice president now owns 14,817 shares of the company’s stock, valued at $2,318,564.16. The disclosure for this sale can be found here. 0.41% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in CASY. Atria Investments LLC bought a new stake in shares of Casey’s General Stores in the second quarter valued at about $289,000. BlackRock Inc. lifted its stake in shares of Casey’s General Stores by 2.0% in the second quarter. BlackRock Inc. now owns 3,289,827 shares of the company’s stock valued at $513,180,000 after buying an additional 65,801 shares during the period. Cresset Asset Management LLC lifted its stake in shares of Casey’s General Stores by 151.3% in the second quarter. Cresset Asset Management LLC now owns 1,641 shares of the company’s stock valued at $256,000 after buying an additional 988 shares during the period. Colony Group LLC bought a new stake in shares of Casey’s General Stores in the second quarter valued at about $283,000. Finally, Maverick Capital Ltd. bought a new stake in shares of Casey’s General Stores in the second quarter valued at about $22,867,000. Institutional investors own 87.60% 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. The company's stores offer a selection of food, including freshly prepared foods, such as pizza, donuts, and sandwiches; beverage and tobacco products; health and beauty aids; automotive products; school supplies, housewares, and pet supplies; and other nonfood items.

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Analyst Recommendations for Casey`s General Stores (NASDAQ:CASY)

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