Brokerages Set Casey’s General Stores, Inc. (NASDAQ:CASY) PT at $944.20

Shares of Casey’s General Stores, Inc. (NASDAQ:CASY) have earned a consensus recommendation of “Moderate Buy” from the twenty analysts that are presently covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $944.20.

Several equities analysts have recently commented on CASY shares. KeyCorp increased their target price on Casey’s General Stores from $950.00 to $970.00 and gave the company an “overweight” rating in a research note on Thursday, June 11th. Stephens set a $975.00 price target on shares of Casey’s General Stores and gave the stock an “overweight” rating in a research note on Friday, June 12th. Wolfe Research reaffirmed an “outperform” rating and issued a $1,069.00 price target on shares of Casey’s General Stores in a report on Thursday, June 11th. Morgan Stanley upgraded shares of Casey’s General Stores to a “buy” rating in a research note on Wednesday, June 10th. Finally, BNP Paribas Exane dropped their target price on shares of Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating for the company in a research report on Thursday, June 25th.

Insiders Place Their Bets

In other Casey’s General Stores news, CEO Darren M. Rebelez sold 19,000 shares of the stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $801.46, for a total transaction of $15,227,740.00. Following the transaction, the chief executive officer owned 89,174 shares of the company’s stock, valued at $71,469,394.04. This trade represents a 17.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Katrina S. Lindsey sold 2,000 shares of the stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $800.00, for a total value of $1,600,000.00. Following the transaction, the insider directly owned 6,668 shares in the company, valued at approximately $5,334,400. This represents a 23.07% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 30,243 shares of company stock valued at $24,421,877. 0.67% of the stock is owned by company insiders.

Institutional Investors Weigh In On Casey’s General Stores

Several institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in Casey’s General Stores by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 760,438 shares of the company’s stock valued at $420,416,000 after purchasing an additional 52,250 shares during the period. Burns J W & Co. Inc. NY increased its stake in shares of Casey’s General Stores by 103.5% in the first quarter. Burns J W & Co. Inc. NY now owns 2,448 shares of the company’s stock valued at $1,782,000 after purchasing an additional 1,245 shares during the period. North Dakota State Investment Board bought a new stake in shares of Casey’s General Stores during the fourth quarter valued at approximately $720,000. Jackson Creek Investment Advisors LLC bought a new stake in shares of Casey’s General Stores during the fourth quarter valued at approximately $1,338,000. Finally, Teachers Retirement System of The State of Kentucky boosted its position in shares of Casey’s General Stores by 52.0% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 17,079 shares of the company’s stock worth $12,431,000 after buying an additional 5,846 shares during the period. 85.63% of the stock is owned by institutional investors and hedge funds.

Casey’s General Stores Trading Down 1.7%

NASDAQ:CASY opened at $855.00 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 1.01. Casey’s General Stores has a one year low of $490.00 and a one year high of $927.85. The business’s 50-day simple moving average is $841.81 and its 200 day simple moving average is $772.32. The stock has a market cap of $31.64 billion, a price-to-earnings ratio of 44.62, a price-to-earnings-growth ratio of 2.54 and a beta of 0.61.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $1.06. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The firm had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same quarter last year, the firm earned $2.63 EPS. Casey’s General Stores’s quarterly revenue was up 14.5% on a year-over-year basis. As a group, sell-side analysts predict that Casey’s General Stores will post 21.14 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Saturday, August 1st were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, July 31st. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.57. This represents a $2.60 annualized dividend and a dividend yield of 0.3%. Casey’s General Stores’s dividend payout ratio is 13.57%.

About Casey’s General Stores

Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.