Caseys General Stores, Inc. (NASDAQ:CASY) Lifted to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Caseys General Stores, Inc. (NASDAQ:CASY) from a sell rating to a hold rating in a research note issued to investors on Friday morning.
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. “
Other analysts also recently issued reports about the company. Jefferies Group LLC set a $139.00 price objective on Caseys General Stores and gave the stock a buy rating in a research report on Saturday, July 22nd. Deutsche Bank AG set a $120.00 price objective on Caseys General Stores and gave the stock a buy rating in a research report on Tuesday, June 6th. Barclays PLC cut their price objective on Caseys General Stores from $116.00 to $100.00 and set an equal weight rating for the company in a research report on Wednesday, June 7th. BMO Capital Markets set a $116.00 price objective on Caseys General Stores and gave the stock a hold rating in a research report on Wednesday, May 31st. Finally, Goldman Sachs Group, Inc. (The) started coverage on Caseys General Stores in a research report on Thursday, April 27th. They set a neutral rating and a $109.00 price objective for the company. Eight analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $116.29.
Shares of Caseys General Stores (NASDAQ:CASY) traded down 1.01% during mid-day trading on Friday, hitting $108.35. 108,452 shares of the stock were exchanged. The stock has a market cap of $4.18 billion, a price-to-earnings ratio of 24.19 and a beta of 0.48. Caseys General Stores has a 12 month low of $101.89 and a 12 month high of $135.68. The company has a 50-day moving average price of $106.22 and a 200-day moving average price of $111.65.
Caseys General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Monday, June 5th. The company reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by $0.09. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.88 billion. Caseys General Stores had a return on equity of 14.93% and a net margin of 2.36%. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.19 earnings per share. Equities analysts expect that Caseys General Stores will post $4.54 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.95%. This is a boost from Caseys General Stores’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, July 28th. Caseys General Stores’s dividend payout ratio (DPR) is 23.21%.
In related news, SVP John C. Soupene sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $106.52, for a total transaction of $106,520.00. Following the completion of the transaction, the senior vice president now directly owns 1,253 shares in the company, valued at approximately $133,469.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.30% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in Caseys General Stores by 14,288.2% in the first quarter. BlackRock Inc. now owns 3,093,329 shares of the company’s stock worth $347,227,000 after buying an additional 3,071,830 shares during the last quarter. Credit Suisse AG boosted its position in Caseys General Stores by 518.4% in the first quarter. Credit Suisse AG now owns 364,691 shares of the company’s stock worth $40,935,000 after buying an additional 305,714 shares during the last quarter. Vontobel Asset Management Inc. boosted its position in Caseys General Stores by 25.4% in the first quarter. Vontobel Asset Management Inc. now owns 1,498,546 shares of the company’s stock worth $173,215,000 after buying an additional 303,068 shares during the last quarter. Fiduciary Management Inc. WI bought a new position in Caseys General Stores during the first quarter worth $29,598,000. Finally, Clearbridge Investments LLC boosted its position in Caseys General Stores by 23.6% in the first quarter. Clearbridge Investments LLC now owns 1,373,665 shares of the company’s stock worth $154,194,000 after buying an additional 262,360 shares during the last quarter. Institutional investors own 96.21% of the company’s stock.
About Caseys General Stores
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.
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