Evercore ISI Boosts Casey’s General Stores (NASDAQ:CASY) Price Target to $355.00

Casey’s General Stores (NASDAQ:CASY) had its target price hoisted by Evercore ISI from $345.00 to $355.00 in a research note released on Tuesday, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research firms have also recently commented on CASY. Royal Bank of Canada increased their target price on Casey’s General Stores from $291.00 to $296.00 and gave the company a sector perform rating in a research note on Tuesday, December 12th. Stephens increased their target price on Casey’s General Stores from $305.00 to $340.00 and gave the company an overweight rating in a research note on Wednesday, December 13th. StockNews.com cut Casey’s General Stores from a strong-buy rating to a buy rating in a research note on Thursday, March 21st. Benchmark reiterated a buy rating and set a $312.00 target price on shares of Casey’s General Stores in a research note on Wednesday, March 6th. Finally, Wells Fargo & Company increased their target price on Casey’s General Stores from $305.00 to $340.00 and gave the company an overweight rating in a research note on Tuesday, March 5th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $309.00.

Casey’s General Stores Stock Down 0.1 %

NASDAQ CASY opened at $318.45 on Tuesday. The stock has a market cap of $11.79 billion, a PE ratio of 25.31, a P/E/G ratio of 2.52 and a beta of 0.83. Casey’s General Stores has a fifty-two week low of $212.50 and a fifty-two week high of $324.40. The business has a 50 day moving average price of $294.10 and a two-hundred day moving average price of $281.76. The company has a quick ratio of 0.42, a current ratio of 0.89 and a debt-to-equity ratio of 0.54.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Tuesday, March 12th. The company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.13. The firm had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.51 billion. Casey’s General Stores had a return on equity of 16.70% and a net margin of 3.23%. Casey’s General Stores’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.36 EPS. As a group, sell-side analysts predict that Casey’s General Stores will post 12.88 EPS for the current fiscal year.

Casey’s General Stores Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Tuesday, April 30th. Casey’s General Stores’s dividend payout ratio is currently 13.67%.

Insider Activity at Casey’s General Stores

In related news, Director Mike Spanos bought 725 shares of the company’s stock in a transaction on Wednesday, January 3rd. The shares were purchased at an average cost of $275.43 per share, with a total value of $199,686.75. Following the completion of the transaction, the director now directly owns 1,791 shares of the company’s stock, valued at $493,295.13. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Casey’s General Stores

Several large investors have recently added to or reduced their stakes in CASY. Money Concepts Capital Corp increased its position in Casey’s General Stores by 62.7% in the fourth quarter. Money Concepts Capital Corp now owns 122 shares of the company’s stock worth $27,000 after buying an additional 47 shares during the period. Point72 Europe London LLP bought a new position in Casey’s General Stores during the fourth quarter valued at about $27,000. BKM Wealth Management LLC bought a new position in Casey’s General Stores during the fourth quarter valued at about $29,000. Sunbelt Securities Inc. boosted its stake in Casey’s General Stores by 46.6% during the second quarter. Sunbelt Securities Inc. now owns 129 shares of the company’s stock valued at $31,000 after buying an additional 41 shares in the last quarter. Finally, Fortis Capital Advisors LLC bought a new position in Casey’s General Stores during the first quarter valued at about $31,000. 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.