Benchmark Boosts Casey’s General Stores (NASDAQ:CASY) Price Target to $410.00

Casey’s General Stores (NASDAQ:CASY) had its target price raised by Benchmark from $350.00 to $410.00 in a report released on Thursday morning, Benzinga reports. Benchmark currently has a buy rating on the stock.

CASY has been the topic of a number of other reports. Evercore ISI cut their price objective on shares of Casey’s General Stores from $350.00 to $345.00 and set an outperform rating on the stock in a report on Tuesday, April 16th. BMO Capital Markets raised their price target on shares of Casey’s General Stores from $290.00 to $305.00 and gave the company a market perform rating in a research report on Wednesday, March 13th. Royal Bank of Canada upped their price objective on shares of Casey’s General Stores from $322.00 to $361.00 and gave the stock a sector perform rating in a research report on Wednesday, June 12th. Northcoast Research cut shares of Casey’s General Stores from a buy rating to a neutral rating in a research report on Wednesday, May 15th. Finally, StockNews.com upgraded Casey’s General Stores from a buy rating to a strong-buy rating in a research note on Wednesday, June 12th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $380.11.

Casey’s General Stores Trading Down 1.2 %

CASY opened at $372.02 on Thursday. The firm has a market capitalization of $13.77 billion, a PE ratio of 27.70, a P/E/G ratio of 2.70 and a beta of 0.83. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.87 and a quick ratio of 0.42. Casey’s General Stores has a fifty-two week low of $216.95 and a fifty-two week high of $389.43. The company’s 50-day moving average is $327.90 and its 200 day moving average is $302.44.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Tuesday, June 11th. The company reported $2.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.64. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.47 billion. Casey’s General Stores had a return on equity of 17.25% and a net margin of 3.38%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the company earned $1.49 earnings per share. As a group, research analysts predict that Casey’s General Stores will post 14.18 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, August 1st. This represents a $2.00 annualized dividend and a dividend yield of 0.54%. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.43. Casey’s General Stores’s dividend payout ratio (DPR) is presently 12.81%.

Hedge Funds Weigh In On Casey’s General Stores

Institutional investors have recently bought and sold shares of the company. BKM Wealth Management LLC purchased a new stake in Casey’s General Stores in the fourth quarter worth $29,000. Rise Advisors LLC purchased a new stake in Casey’s General Stores in the 1st quarter worth about $30,000. Advisors Asset Management Inc. bought a new stake in Casey’s General Stores in the 1st quarter valued at about $32,000. V Square Quantitative Management LLC purchased a new stake in Casey’s General Stores during the fourth quarter valued at about $35,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in Casey’s General Stores during the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Company Profile

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.