Brokerages Set Casey’s General Stores, Inc. (NASDAQ:CASY) Target Price at $940.00

Shares of Casey’s General Stores, Inc. (NASDAQ:CASY) have been assigned an average rating of “Moderate Buy” from the twenty ratings firms that are covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $940.00.

CASY has been the topic of a number of analyst reports. Evercore reaffirmed an “outperform” rating and set a $990.00 target price on shares of Casey’s General Stores in a research note on Friday, June 12th. UBS Group increased their price target on shares of Casey’s General Stores from $805.00 to $945.00 and gave the company a “neutral” rating in a research note on Thursday, June 11th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,000.00 price target on shares of Casey’s General Stores in a report on Monday, June 15th. William Blair started coverage on shares of Casey’s General Stores in a research report on Wednesday, May 20th. They set an “outperform” rating on the stock. Finally, Weiss Ratings cut Casey’s General Stores from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday.

Casey’s General Stores Stock Down 1.6%

NASDAQ CASY opened at $861.63 on Friday. Casey’s General Stores has a 52 week low of $490.00 and a 52 week high of $927.85. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The business’s fifty day simple moving average is $821.67 and its 200-day simple moving average is $742.33. The firm has a market cap of $31.88 billion, a PE ratio of 44.97, a P/E/G ratio of 2.62 and a beta of 0.62.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, beating the consensus estimate of $3.31 by $1.06. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The firm had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.33 billion. During the same quarter in the previous year, the company posted $2.63 EPS. The company’s revenue was up 14.5% compared to the same quarter last year. As a group, equities analysts anticipate that Casey’s General Stores will post 21.14 earnings per share for the current year.

Casey’s General Stores Increases Dividend

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

Insider Buying and Selling

In other Casey’s General Stores news, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of Casey’s General Stores stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $838.16, for a total value of $4,777,512.00. Following the sale, the chief financial officer owned 29,677 shares in the company, valued at $24,874,074.32. The trade was a 16.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Allison M. Wing sold 530 shares of the company’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $837.58, for a total value of $443,917.40. Following the completion of the transaction, the director directly owned 3,042 shares in the company, valued at approximately $2,547,918.36. This trade represents a 14.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 30,243 shares of company stock valued at $24,421,877. 0.54% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. NewEdge Advisors LLC raised its stake in shares of Casey’s General Stores by 6.4% in the 1st quarter. NewEdge Advisors LLC now owns 1,871 shares of the company’s stock valued at $812,000 after acquiring an additional 113 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Casey’s General Stores by 129.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 186 shares of the company’s stock worth $81,000 after acquiring an additional 105 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Casey’s General Stores by 431.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company’s stock worth $111,000 after purchasing an additional 177 shares during the period. Amundi purchased a new position in shares of Casey’s General Stores during the 2nd quarter worth approximately $338,000. Finally, Jump Financial LLC boosted its position in shares of Casey’s General Stores by 42.6% during the 2nd quarter. Jump Financial LLC now owns 968 shares of the company’s stock worth $494,000 after purchasing an additional 289 shares during the period. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Company Profile

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.