Casey’s General Stores Inc. (NASDAQ:CASY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

According to Zacks, “Casey’s General Stores, Inc. operate convenience stores under the name Casey’s General Store in Midwestern states, primarily Iowa, Missouri and Illinois. The stores carry a broad selection of food (including freshly prepared foods such as pizza, donuts and sandwiches), beverages, tobacco products, health and beauty aids, automotive products and other non-food items. In addition, all stores offer gasoline for sale on a self-service basis. “

Several other research analysts also recently weighed in on CASY. Jefferies Group set a $137.00 price target on shares of Casey’s General Stores and gave the stock a “hold” rating in a research report on Wednesday, September 7th. RBC Capital Markets reiterated an “outperform” rating and issued a $145.00 price target (up from $139.00) on shares of Casey’s General Stores in a research report on Saturday, September 3rd. Wells Fargo & Co. reiterated a “hold” rating on shares of Casey’s General Stores in a research report on Thursday, September 8th. Deutsche Bank AG decreased their price target on shares of Casey’s General Stores from $141.00 to $135.00 and set a “buy” rating on the stock in a research report on Monday, September 12th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $118.00 price target (up from $115.00) on shares of Casey’s General Stores in a research report on Saturday, September 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $135.90.

Analyst Recommendations for Casey`s General Stores (NASDAQ:CASY)

Casey’s General Stores (NASDAQ:CASY) traded down 0.05% during mid-day trading on Wednesday, hitting $116.47. 219,509 shares of the stock were exchanged. The stock has a market capitalization of $4.56 billion, a PE ratio of 19.87 and a beta of 0.51. The company has a 50-day moving average of $120.06 and a 200-day moving average of $122.03. Casey’s General Stores has a 52 week low of $98.80 and a 52 week high of $136.22.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Tuesday, September 6th. The company reported $1.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.81 by $0.11. The company had revenue of $1.97 billion for the quarter. Casey’s General Stores had a net margin of 3.29% and a return on equity of 21.62%. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.57 EPS. On average, equities analysts predict that Casey’s General Stores will post $5.66 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Tuesday, November 1st will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, October 28th. This represents a $0.96 annualized dividend and a yield of 0.82%. Casey’s General Stores’s payout ratio is 16.38%.

In related news, Director Richard A. Wilkey bought 340 shares of the business’s stock in a transaction that occurred on Wednesday, September 21st. The stock was bought at an average cost of $117.80 per share, with a total value of $40,052.00. Following the completion of the purchase, the director now owns 15,000 shares of the company’s stock, valued at approximately $1,767,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Casey’s General Stores by 0.3% in the second quarter. Vanguard Group Inc. now owns 3,155,845 shares of the company’s stock valued at $415,025,000 after buying an additional 8,720 shares during the last quarter. State Street Corp raised its position in Casey’s General Stores by 0.6% in the first quarter. State Street Corp now owns 1,340,319 shares of the company’s stock valued at $151,891,000 after buying an additional 8,301 shares during the period. Vontobel Asset Management Inc. raised its position in Casey’s General Stores by 281.7% in the third quarter. Vontobel Asset Management Inc. now owns 1,239,978 shares of the company’s stock valued at $153,090,000 after buying an additional 915,147 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in Casey’s General Stores by 7.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,180,040 shares of the company’s stock valued at $133,722,000 after buying an additional 77,254 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Casey’s General Stores by 145.7% in the second quarter. JPMorgan Chase & Co. now owns 1,000,438 shares of the company’s stock valued at $131,568,000 after buying an additional 593,186 shares during the period. 85.84% of the stock is owned by institutional investors.

Casey’s General Stores Company Profile

Casey’s General Stores, Inc and its subsidiaries, operate convenience stores under the name Casey’s General Store in approximately 10 Midwestern states, in Iowa, Missouri, and Illinois. The Company also operates approximately two stores selling primarily tobacco products. The stores carry a range of food, including freshly prepared foods such as pizza, donuts, and sandwiches, beverages, tobacco products, health and beauty aids, automotive products and other nonfood items.

5 Day Chart for NASDAQ:CASY

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