Casey’s General Stores’ (CASY) “Overweight” Rating Reaffirmed at Stephens

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

Other equities research analysts also recently issued research reports about the company. Evercore ISI lifted their price objective on Casey’s General Stores from $450.00 to $460.00 and gave the company an “outperform” rating in a research report on Tuesday, April 1st. KeyCorp initiated coverage on Casey’s General Stores in a research report on Friday, April 11th. They issued an “overweight” rating and a $500.00 price objective for the company. Royal Bank of Canada set a $438.00 price objective on Casey’s General Stores and gave the company a “sector perform” rating in a research report on Wednesday, March 12th. Wall Street Zen downgraded Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Finally, Gordon Haskett raised Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. One 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 MarketBeat, Casey’s General Stores has an average rating of “Moderate Buy” and a consensus target price of $453.00.

Casey’s General Stores Stock Performance

NASDAQ CASY opened at $506.99 on Tuesday. Casey’s General Stores has a fifty-two week low of $350.52 and a fifty-two week high of $509.08. The stock has a market cap of $18.82 billion, a price-to-earnings ratio of 35.33, a price-to-earnings-growth ratio of 2.40 and a beta of 0.65. The business has a fifty day moving average of $451.87 and a 200-day moving average of $425.81. The company has a quick ratio of 0.49, a current ratio of 0.88 and a debt-to-equity ratio of 0.74.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Monday, June 9th. The company reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.69. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.95 billion. During the same period in the previous year, the firm posted $2.34 earnings per share. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, analysts predict that Casey’s General Stores will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be issued a dividend of $0.57 per share. The ex-dividend date is Friday, August 1st. This is a positive change 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%. Casey’s General Stores’s dividend payout ratio is 13.94%.

Insider Activity

In other Casey’s General Stores news, insider Katrina S. Lindsey sold 250 shares of the stock in a transaction on Friday, April 4th. The stock was sold at an average price of $437.01, for a total transaction of $109,252.50. Following the completion of the transaction, the insider now directly owns 2,443 shares of the company’s stock, 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. Corporate insiders own 0.56% of the company’s stock.

Hedge Funds Weigh In On Casey’s General Stores

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc bought a new position in Casey’s General Stores during the 1st quarter valued at $25,000. Global Financial Private Client LLC boosted its stake in Casey’s General Stores by 325.0% during the 1st quarter. Global Financial Private Client LLC now owns 68 shares of the company’s stock valued at $30,000 after purchasing an additional 52 shares in the last quarter. Summit Securities Group LLC bought a new position in Casey’s General Stores during the 1st quarter valued at $32,000. Iron Horse Wealth Management LLC boosted its stake in Casey’s General Stores by 40.0% during the 1st quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company’s stock valued at $40,000 after purchasing an additional 26 shares in the last quarter. Finally, WPG Advisers LLC acquired a new stake in shares of Casey’s General Stores during the 1st quarter valued at $47,000. 85.63% of the stock is owned by institutional investors.

About Casey’s General Stores

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.