Casey’s General Stores (NASDAQ:CASY) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Casey’s General Stores (NASDAQ:CASY) from a strong-buy rating to a buy rating in a report published on Wednesday morning.

Other analysts have also recently issued research reports about the company. BMO Capital Markets upped their price objective on Casey’s General Stores from $305.00 to $400.00 and gave the company a market perform rating in a research note on Thursday, June 13th. Jefferies Financial Group upped their price objective on Casey’s General Stores from $342.00 to $445.00 and gave the company a buy rating in a research note on Wednesday, June 12th. Royal Bank of Canada upped their price objective on Casey’s General Stores from $322.00 to $361.00 and gave the company a sector perform rating in a research note on Wednesday, June 12th. Benchmark restated a buy rating and set a $410.00 price objective on shares of Casey’s General Stores in a research note on Wednesday. Finally, Wells Fargo & Company upped their target price on Casey’s General Stores from $340.00 to $415.00 and gave the company an overweight rating in a report on Thursday, June 13th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Casey’s General Stores has an average rating of Moderate Buy and an average target price of $401.22.

Casey’s General Stores Trading Up 4.9 %

NASDAQ:CASY opened at $391.16 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.87. Casey’s General Stores has a one year low of $238.44 and a one year high of $401.07. The business’s 50-day simple moving average is $360.95 and its 200 day simple moving average is $323.56. The stock has a market cap of $14.52 billion, a price-to-earnings ratio of 29.13, a price-to-earnings-growth ratio of 2.69 and a beta of 0.80.

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

Casey’s General Stores Increases Dividend

The firm 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 dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.51%. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, August 1st. Casey’s General Stores’s dividend payout ratio is presently 12.81%.

Hedge Funds Weigh In On Casey’s General Stores

Several hedge funds have recently bought and sold shares of CASY. Park Place Capital Corp acquired a new stake in Casey’s General Stores in the 2nd quarter valued at approximately $31,000. Rise Advisors LLC acquired a new stake in shares of Casey’s General Stores in the first quarter worth $30,000. Advisors Asset Management Inc. bought a new position in Casey’s General Stores during the first quarter worth $32,000. Bank & Trust Co acquired a new position in Casey’s General Stores during the 2nd quarter valued at $40,000. Finally, V Square Quantitative Management LLC bought a new stake in Casey’s General Stores in the 4th quarter valued at $35,000. 85.63% of the stock is owned by institutional investors and hedge funds.

Casey’s General Stores Company Profile

Casey's General Stores, Inc, 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.