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

Shares of Casey’s General Stores, Inc. (NASDAQ:CASY) have been assigned an average rating of “Moderate Buy” from the ten research firms that are covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $380.11.

CASY has been the topic of a number of recent analyst reports. Royal Bank of Canada upped their target price on Casey’s General Stores from $322.00 to $361.00 and gave the company a “sector perform” rating in a research report on Wednesday, June 12th. Deutsche Bank Aktiengesellschaft upped their target price on Casey’s General Stores from $375.00 to $420.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. BMO Capital Markets upped 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 report on Thursday, June 13th. Jefferies Financial Group upped their target price on Casey’s General Stores from $342.00 to $445.00 and gave the company a “buy” rating in a research report on Wednesday, June 12th. Finally, Evercore ISI cut their target price on Casey’s General Stores from $350.00 to $345.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 16th.

Institutional Investors Weigh In On Casey’s General Stores

Several large investors have recently added to or reduced their stakes in the stock. First Hawaiian Bank increased its position in Casey’s General Stores by 79.9% in the second quarter. First Hawaiian Bank now owns 10,252 shares of the company’s stock worth $3,912,000 after buying an additional 4,553 shares during the period. GAMMA Investing LLC increased its position in Casey’s General Stores by 95.8% in the second quarter. GAMMA Investing LLC now owns 691 shares of the company’s stock worth $264,000 after buying an additional 338 shares during the period. Park Place Capital Corp acquired a new stake in Casey’s General Stores in the second quarter worth $31,000. DekaBank Deutsche Girozentrale increased its position in Casey’s General Stores by 321.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 26,862 shares of the company’s stock worth $8,531,000 after buying an additional 20,492 shares during the period. Finally, Cetera Advisors LLC increased its position in Casey’s General Stores by 130.0% in the first quarter. Cetera Advisors LLC now owns 5,830 shares of the company’s stock worth $1,857,000 after buying an additional 3,295 shares during the period. 85.63% of the stock is owned by institutional investors and hedge funds.

Casey’s General Stores Stock Down 0.9 %

NASDAQ CASY opened at $373.90 on Friday. The stock has a market cap of $13.88 billion, a PE ratio of 27.84, a P/E/G ratio of 2.76 and a beta of 0.80. Casey’s General Stores has a fifty-two week low of $238.44 and a fifty-two week high of $389.43. The business has a 50 day moving average price of $343.73 and a two-hundred day moving average price of $311.40. The company has a quick ratio of 0.42, a current ratio of 0.87 and a debt-to-equity ratio of 0.52.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Tuesday, June 11th. The company reported $2.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.64. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.47 billion. Casey’s General Stores had a return on equity of 17.25% and a net margin of 3.38%. Casey’s General Stores’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.49 EPS. As a group, sell-side analysts predict that Casey’s General Stores will post 14.2 EPS for the current fiscal year.

Casey’s General Stores Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, August 1st. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.43. This represents a $2.00 annualized dividend and a yield of 0.53%. Casey’s General Stores’s dividend payout ratio (DPR) is currently 14.89%.

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.