Caseys General Stores, Inc. (CASY) Raised 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 report released 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. “
A number of other equities research analysts have also weighed in on CASY. Jefferies Group LLC set a $139.00 price objective on shares of Caseys General Stores and gave the company a buy rating in a report on Thursday, May 18th. Royal Bank Of Canada restated a sector perform rating and issued a $121.00 price objective (down from $123.00) on shares of Caseys General Stores in a report on Monday, May 29th. BMO Capital Markets set a $116.00 price objective on shares of Caseys General Stores and gave the company a hold rating in a report on Wednesday, May 31st. Sidoti lowered shares of Caseys General Stores from a buy rating to a neutral rating and reduced their price objective for the company from $130.00 to $118.00 in a report on Tuesday, June 6th. Finally, Barclays PLC reduced their price objective on shares of Caseys General Stores from $116.00 to $100.00 and set an equal weight rating on the stock in a report on Wednesday, June 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Caseys General Stores currently has a consensus rating of Hold and a consensus target price of $115.29.
Caseys General Stores (CASY) opened at 107.19 on Thursday. The stock’s 50 day moving average price is $106.19 and its 200-day moving average price is $109.77. The firm has a market capitalization of $4.13 billion, a P/E ratio of 23.93 and a beta of 0.50. Caseys General Stores has a 12 month low of $99.76 and a 12 month high of $126.49.
Caseys General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Tuesday, September 5th. The company reported $1.46 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.46. Caseys General Stores had a net margin of 2.19% and a return on equity of 13.99%. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the business earned $1.70 EPS. The company’s revenue was up 6.3% on a year-over-year basis. Equities analysts forecast that Caseys General Stores will post $4.41 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a $1.04 annualized dividend and a yield of 0.97%. Caseys General Stores’s dividend payout ratio is currently 24.53%.
In related news, SVP John C. Soupene sold 1,000 shares of Caseys General Stores stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $106.52, for a total transaction of $106,520.00. Following the sale, 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 available through this hyperlink. 1.30% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Caseys General Stores by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 3,489,016 shares of the company’s stock worth $373,709,000 after acquiring an additional 48,059 shares in the last quarter. BlackRock Inc. raised its stake in Caseys General Stores by 14,288.2% during the 1st quarter. BlackRock Inc. now owns 3,093,329 shares of the company’s stock worth $347,227,000 after acquiring an additional 3,071,830 shares in the last quarter. Iridian Asset Management LLC CT raised its stake in Caseys General Stores by 9.2% during the 2nd quarter. Iridian Asset Management LLC CT now owns 1,553,345 shares of the company’s stock worth $166,379,000 after acquiring an additional 131,245 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in Caseys General Stores during the 2nd quarter worth $162,421,000. Finally, Clearbridge Investments LLC raised its stake in Caseys General Stores by 23.6% during the 1st quarter. Clearbridge Investments LLC now owns 1,373,665 shares of the company’s stock worth $154,194,000 after acquiring an additional 262,360 shares in the last quarter. Hedge funds and other institutional investors own 99.48% of the company’s stock.
Caseys 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.
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