Casey’s General Stores’ (CASY) Overweight Rating Reiterated at Stephens

Stephens restated their overweight rating on shares of Casey’s General Stores (NASDAQ:CASY) in a research report report published on Tuesday morning,Benzinga reports. Stephens currently has a $490.00 price objective on the stock.

A number of other equities research analysts have also issued reports on the stock. KeyCorp started coverage on shares of Casey’s General Stores in a report on Friday, April 11th. They set an “overweight” rating and a $500.00 target price on the stock. Wall Street Zen cut Casey’s General Stores from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Evercore ISI boosted their target price on Casey’s General Stores from $450.00 to $460.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 1st. Gordon Haskett upgraded Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Finally, Royal Bank of Canada set a $438.00 price target on Casey’s General Stores and gave the company a “sector perform” rating in a research report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $453.00.

Casey’s General Stores Stock Performance

NASDAQ:CASY opened at $506.99 on Tuesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.49. The firm has a market capitalization of $18.82 billion, a price-to-earnings ratio of 35.33, a PEG ratio of 2.40 and a beta of 0.65. The company’s 50-day moving average is $451.87 and its two-hundred day moving average is $425.81. Casey’s General Stores has a 1-year low of $350.52 and a 1-year high of $509.08.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Monday, June 9th. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $1.94 by $0.69. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.95 billion. During the same period in the prior year, the business posted $2.34 EPS. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. Analysts forecast that Casey’s General Stores will post 13.94 EPS for the current year.

Casey’s General Stores Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be paid a $0.57 dividend. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.50. This represents a $2.28 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Friday, August 1st. Casey’s General Stores’s dividend payout ratio (DPR) is 13.94%.

Insider Buying and Selling at Casey’s General Stores

In other Casey’s General Stores news, insider Katrina S. Lindsey sold 250 shares of Casey’s General Stores stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $437.01, for a total value of $109,252.50. Following the transaction, the insider now directly owns 2,443 shares in the company, valued at approximately $1,067,615.43. This trade represents a 9.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.56% of the company’s stock.

Institutional Trading of Casey’s General Stores

Hedge funds have recently modified their holdings of the business. Versant Capital Management Inc acquired a new stake in shares of Casey’s General Stores in the 1st quarter valued at approximately $25,000. Global Financial Private Client LLC lifted its holdings in shares of Casey’s General Stores by 325.0% in the 1st quarter. Global Financial Private Client LLC now owns 68 shares of the company’s stock valued at $30,000 after buying an additional 52 shares during the period. Summit Securities Group LLC acquired a new stake in shares of Casey’s General Stores in the 1st quarter valued at approximately $32,000. Iron Horse Wealth Management LLC lifted its holdings in shares of Casey’s General Stores by 40.0% in the 1st quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company’s stock valued at $40,000 after buying an additional 26 shares during the period. Finally, WPG Advisers LLC acquired a new stake in shares of Casey’s General Stores in the 1st quarter valued at approximately $47,000. 85.63% of the stock is owned by institutional investors and hedge funds.

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.