Zacks Investment Research lowered shares of Casey's General Stores (NASDAQ:CASY) from a hold rating to a sell rating in a research report released on Tuesday morning.

According to Zacks, “Casey’s General Stores, Inc. and its wholly owned subsidiaries operate convenience stores under the names Casey’s and Casey’s General Store. The Company also operates two stores under the name Tobacco City, selling primarily tobacco products, and one grocery store. The Casey’s 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 nonfood items. In addition, all but two stores offer fuel for sale on a self-service basis. Casey’s General Stores Inc. is a chain of convenience stores. Casey’s operates its own distribution centers, delivering approximately 90% of in-store products as well as approximately 75% of the fuel sold at own stores. “

CASY has been the topic of a number of other reports. BidaskClub raised shares of Casey's General Stores from a buy rating to a strong-buy rating in a report on Saturday. Royal Bank of Canada reaffirmed a hold rating on shares of Casey's General Stores in a report on Friday, December 8th. Raymond James Financial reaffirmed a market perform rating on shares of Casey's General Stores in a report on Wednesday, December 6th. Stephens set a $119.00 price objective on shares of Casey's General Stores and gave the stock a buy rating in a report on Wednesday, January 3rd. Finally, Barclays reaffirmed a hold rating on shares of Casey's General Stores in a report on Friday, December 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $116.00.

Casey's General Stores (CASY) traded down $2.35 on Tuesday, reaching $120.08. 599,855 shares of the company’s stock were exchanged, compared to its average volume of 674,086. The company has a quick ratio of 0.72, a current ratio of 1.23 and a debt-to-equity ratio of 1.13. The stock has a market cap of $4,600.00, a P/E ratio of 29.43, a price-to-earnings-growth ratio of 2.26 and a beta of 0.46. Casey's General Stores has a 1 year low of $99.76 and a 1 year high of $125.35.

Casey's General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Monday, December 11th. The company reported $1.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.40 by ($0.12). The firm had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.17 billion. Casey's General Stores had a return on equity of 13.42% and a net margin of 2.02%. Casey's General Stores’s revenue was up 12.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.44 earnings per share. sell-side analysts forecast that Casey's General Stores will post 4.13 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Wednesday, January 31st. Casey's General Stores’s payout ratio is 25.49%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CASY. Schwab Charles Investment Management Inc. raised its stake in shares of Casey's General Stores by 10.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 136,098 shares of the company’s stock worth $14,578,000 after purchasing an additional 13,414 shares during the period. Prudential Financial Inc. raised its stake in shares of Casey's General Stores by 1.3% during the 2nd quarter. Prudential Financial Inc. now owns 24,793 shares of the company’s stock worth $2,656,000 after purchasing an additional 324 shares during the period. Neuberger Berman Group LLC raised its stake in shares of Casey's General Stores by 0.9% during the 2nd quarter. Neuberger Berman Group LLC now owns 2,474 shares of the company’s stock worth $265,000 after purchasing an additional 23 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Casey's General Stores by 46.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,779 shares of the company’s stock worth $191,000 after purchasing an additional 566 shares during the period. Finally, Cambridge Investment Research Advisors Inc. raised its stake in shares of Casey's General Stores by 7.4% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 2,964 shares of the company’s stock worth $318,000 after purchasing an additional 203 shares during the period. Institutional investors own 97.15% of the company’s stock.

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About Casey's 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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