Casey’s General Stores, Inc. (NASDAQ:CASY) Receives $944.20 Average PT from Brokerages

Shares of Casey’s General Stores, Inc. (NASDAQ:CASY) have been assigned a consensus recommendation of “Moderate Buy” from the twenty analysts that are currently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $944.20.

Several equities analysts have recently weighed in on CASY shares. Wells Fargo & Company increased their price objective on shares of Casey’s General Stores from $910.00 to $960.00 and gave the stock an “overweight” rating in a research note on Thursday, June 11th. BNP Paribas Exane cut their target price on shares of Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating for the company in a research report on Thursday, June 25th. UBS Group upped their target price on shares of Casey’s General Stores from $805.00 to $945.00 and gave the company a “neutral” rating in a report on Thursday, June 11th. Capital One Financial began coverage on shares of Casey’s General Stores in a research report on Monday, June 22nd. They issued an “equal weight” rating and a $896.00 price target on the stock. Finally, Morgan Stanley upgraded shares of Casey’s General Stores to a “buy” rating in a research note on Wednesday, June 10th.

Insiders Place Their Bets

In related news, CEO Darren M. Rebelez sold 19,000 shares of the stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $801.46, for a total value of $15,227,740.00. Following the completion of the sale, the chief executive officer directly owned 89,174 shares of the company’s stock, valued at approximately $71,469,394.04. This represents a 17.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Allison M. Wing sold 530 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $837.58, for a total transaction of $443,917.40. Following the sale, the director owned 3,042 shares in the company, valued at approximately $2,547,918.36. The trade was a 14.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 30,243 shares of company stock valued at $24,421,877. 0.67% of the stock is currently owned by corporate insiders.

Institutional Trading of Casey’s General Stores

Institutional investors and hedge funds have recently modified their holdings of the company. Jupiter Topco LLC bought a new position in Casey’s General Stores in the 2nd quarter worth $246,982,000. Hsbc Holdings PLC bought a new stake in Casey’s General Stores during the second quarter valued at about $48,669,000. EFG International AG purchased a new position in shares of Casey’s General Stores in the second quarter valued at about $52,000. Ancora Advisors LLC purchased a new position in shares of Casey’s General Stores in the second quarter valued at about $641,000. Finally, Primecap Management Co. CA bought a new position in shares of Casey’s General Stores in the second quarter worth about $26,558,000. 85.63% of the stock is currently owned by institutional investors.

Casey’s General Stores Stock Performance

CASY stock opened at $846.45 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60. Casey’s General Stores has a 1 year low of $490.00 and a 1 year high of $927.85. The company has a market cap of $31.33 billion, a P/E ratio of 44.18, a price-to-earnings-growth ratio of 2.56 and a beta of 0.61. The stock’s fifty day moving average price is $837.57 and its 200-day moving average price is $767.79.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $1.06. The company had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.33 billion. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.Casey’s General Stores’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.63 earnings per share. On average, equities analysts forecast that Casey’s General Stores will post 21.14 earnings per share for the current year.

Casey’s General Stores Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Saturday, August 1st were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.3%. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.57. The ex-dividend date was Friday, July 31st. Casey’s General Stores’s dividend payout ratio (DPR) is presently 13.57%.

About Casey’s General Stores

Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.