Zacks Investment Research downgraded shares of Caseys General Stores, Inc. (NASDAQ:CASY) from a hold rating to a sell rating in a research report report published on Thursday.

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. “

CASY has been the subject of a number of other reports. Jefferies Group LLC reiterated a buy rating and set a $139.00 price target on shares of Caseys General Stores in a report on Tuesday, June 20th. Deutsche Bank AG set a $120.00 price target on shares of Caseys General Stores and gave the stock a buy rating in a report on Tuesday, June 6th. BMO Capital Markets set a $116.00 price target on shares of Caseys General Stores and gave the stock a hold rating in a report on Wednesday, May 31st. BidaskClub upgraded shares of Caseys General Stores from a sell rating to a hold rating in a report on Saturday, August 5th. Finally, Sidoti downgraded shares of Caseys General Stores from a buy rating to a neutral rating and lowered their price target for the stock from $130.00 to $118.00 in a report on Tuesday, June 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Caseys General Stores has a consensus rating of Hold and an average target price of $115.29.

Caseys General Stores (NASDAQ:CASY) traded up 0.61% during trading on Thursday, reaching $106.06. 212,588 shares of the company’s stock traded hands. The firm has a market capitalization of $4.09 billion, a PE ratio of 23.67 and a beta of 0.48. Caseys General Stores has a 1-year low of $101.89 and a 1-year high of $134.58. The firm has a 50 day moving average of $105.96 and a 200 day moving average of $110.18.

Caseys General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Monday, June 5th. The company reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by $0.09. The firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Caseys General Stores had a return on equity of 14.93% and a net margin of 2.36%. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.19 earnings per share. Equities analysts forecast that Caseys General Stores will post $4.48 EPS for the current year.

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The business also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st were given a $0.26 dividend. The ex-dividend date was Friday, July 28th. This is a boost from Caseys General Stores’s previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a dividend yield of 0.99%. Caseys General Stores’s dividend payout ratio (DPR) is currently 23.21%.

In related news, SVP John C. Soupene sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $106.52, for a total value of $106,520.00. Following the sale, the senior vice president now directly owns 1,253 shares of the company’s stock, valued at $133,469.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Caseys General Stores by 1.4% in the second quarter. Vanguard Group Inc. now owns 3,489,016 shares of the company’s stock valued at $373,709,000 after buying an additional 48,059 shares in the last quarter. BlackRock Inc. boosted its stake 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 valued at $347,227,000 after buying an additional 3,071,830 shares in the last quarter. Iridian Asset Management LLC CT boosted its stake in Caseys General Stores by 9.2% in the second quarter. Iridian Asset Management LLC CT now owns 1,553,345 shares of the company’s stock valued at $166,379,000 after buying an additional 131,245 shares in the last quarter. Janus Henderson Group PLC bought a new stake in Caseys General Stores during the second quarter valued at about $162,421,000. Finally, Clearbridge Investments LLC boosted its stake 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 valued at $154,194,000 after buying an additional 262,360 shares in the last quarter. 99.48% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Caseys General Stores (NASDAQ:CASY)

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