Casey’s General Stores Inc. (CASY) Receives Average Recommendation of “Buy” from Brokerages
Casey’s General Stores Inc. (NASDAQ:CASY) has been assigned an average rating of “Buy” from the eleven ratings firms that are covering the stock. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $136.33.
A number of brokerages recently issued reports on CASY. Jefferies Group set a $137.00 price target on shares of Casey’s General Stores and gave the company a “hold” rating in a research report on Wednesday, September 7th. RBC Capital Markets reissued an “outperform” rating and set a $145.00 price target (up from $139.00) on shares of Casey’s General Stores in a research report on Saturday, September 3rd. Wells Fargo & Co. reissued a “hold” rating on shares of Casey’s General Stores in a research report on Thursday, September 8th. Deutsche Bank AG lowered their price target on shares of Casey’s General Stores from $141.00 to $135.00 and set a “buy” rating for the company in a research report on Monday, September 12th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $118.00 price target (up from $115.00) on shares of Casey’s General Stores in a research report on Saturday, September 10th.
Casey’s General Stores (NASDAQ:CASY) traded down 0.65% on Tuesday, hitting $116.93. 118,587 shares of the stock were exchanged. The company has a 50-day moving average of $123.05 and a 200-day moving average of $121.92. The stock has a market cap of $4.58 billion, a price-to-earnings ratio of 19.95 and a beta of 0.51. Casey’s General Stores has a 12 month low of $98.80 and a 12 month high of $136.22.
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Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Tuesday, September 6th. The company reported $1.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.81 by $0.11. Casey’s General Stores had a return on equity of 21.62% and a net margin of 3.29%. The company earned $1.97 billion during the quarter. During the same period last year, the company posted $1.57 earnings per share. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, equities analysts predict that Casey’s General Stores will post $5.66 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Tuesday, November 1st will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, October 28th. This represents a $0.96 annualized dividend and a yield of 0.82%. Casey’s General Stores’s dividend payout ratio (DPR) is 16.38%.
In other Casey’s General Stores news, Director Richard A. Wilkey bought 340 shares of the business’s stock in a transaction that occurred on Wednesday, September 21st. The stock was bought at an average cost of $117.80 per share, for a total transaction of $40,052.00. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $1,767,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.30% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Canada Pension Plan Investment Board acquired a new stake in shares of Casey’s General Stores during the first quarter valued at about $1,099,000. Credit Agricole S A raised its position in Casey’s General Stores by 11.8% in the first quarter. Credit Agricole S A now owns 14,771 shares of the company’s stock worth $1,674,000 after buying an additional 1,560 shares during the last quarter. M&T Bank Corp raised its position in Casey’s General Stores by 10.7% in the first quarter. M&T Bank Corp now owns 4,660 shares of the company’s stock worth $528,000 after buying an additional 450 shares during the last quarter. Palisade Capital Management LLC NJ purchased a new position in Casey’s General Stores during the first quarter worth $1,891,000. Finally, JPMorgan Chase & Co. raised its position in Casey’s General Stores by 77.4% in the first quarter. JPMorgan Chase & Co. now owns 407,252 shares of the company’s stock worth $46,149,000 after buying an additional 177,624 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.
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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