Casey’s General Stores (NASDAQ:CASY) Given “Overweight” Rating at Stephens

Stephens reissued their overweight rating on shares of Casey’s General Stores (NASDAQ:CASY) in a research note released on Tuesday,Benzinga reports. The brokerage currently has a $490.00 price objective on the stock.

CASY has been the topic of several other reports. Royal Bank of Canada set a $438.00 price target on shares of Casey’s General Stores and gave the company a “sector perform” rating in a research note on Wednesday, March 12th. Evercore ISI upped their target price on shares of Casey’s General Stores from $450.00 to $460.00 and gave the company an “outperform” rating in a research report on Tuesday, April 1st. Wall Street Zen downgraded shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Gordon Haskett upgraded shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Finally, KeyCorp initiated coverage on shares of Casey’s General Stores in a research note on Friday, April 11th. They issued an “overweight” rating and a $500.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Casey’s General Stores has a consensus rating of “Moderate Buy” and a consensus price target of $434.92.

Casey’s General Stores Price Performance

CASY opened at $490.20 on Tuesday. Casey’s General Stores has a one year low of $322.78 and a one year high of $509.08. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.49. The company’s 50 day simple moving average is $448.42 and its 200-day simple moving average is $424.74. The stock has a market capitalization of $18.20 billion, a P/E ratio of 34.16, a price-to-earnings-growth ratio of 2.40 and a beta of 0.65.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Monday, June 9th. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $1.94 by $0.69. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The business had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.95 billion. During the same period in the prior year, the firm earned $2.34 earnings per share. Casey’s General Stores’s revenue was up 10.9% compared to the same quarter last year. Sell-side analysts anticipate that Casey’s General Stores will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be paid a $0.57 dividend. The ex-dividend date is Friday, August 1st. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.50. This represents a $2.28 dividend on an annualized basis and a yield of 0.47%. Casey’s General Stores’s dividend payout ratio (DPR) is presently 13.94%.

Insider Buying and Selling at Casey’s General Stores

In other Casey’s General Stores news, insider Katrina S. Lindsey sold 250 shares of the stock in a transaction on Friday, April 4th. The shares were sold at an average price of $437.01, for a total value of $109,252.50. Following the sale, the insider now directly owns 2,443 shares in the company, valued at approximately $1,067,615.43. This trade represents a 9.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mike Spanos bought 256 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was purchased at an average price of $390.54 per share, for a total transaction of $99,978.24. Following the completion of the acquisition, the director now owns 3,356 shares of the company’s stock, valued at approximately $1,310,652.24. This trade represents a 8.26% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.56% of the company’s stock.

Institutional Trading of Casey’s General Stores

Large investors have recently bought and sold shares of the business. Natixis increased its stake in Casey’s General Stores by 21.9% during the 4th quarter. Natixis now owns 8,337 shares of the company’s stock worth $3,303,000 after purchasing an additional 1,499 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in shares of Casey’s General Stores by 55.6% during the fourth quarter. Sanctuary Advisors LLC now owns 8,579 shares of the company’s stock worth $3,629,000 after acquiring an additional 3,065 shares during the period. Scholtz & Company LLC acquired a new stake in shares of Casey’s General Stores during the fourth quarter worth $2,375,000. JLB & Associates Inc. raised its holdings in shares of Casey’s General Stores by 1.8% during the fourth quarter. JLB & Associates Inc. now owns 43,029 shares of the company’s stock worth $17,049,000 after acquiring an additional 749 shares during the period. Finally, Segall Bryant & Hamill LLC raised its holdings in shares of Casey’s General Stores by 9.1% during the fourth quarter. Segall Bryant & Hamill LLC now owns 53,330 shares of the company’s stock worth $21,131,000 after acquiring an additional 4,458 shares during the period. 85.63% of the stock is owned by institutional investors.

Casey’s General Stores Company Profile

Casey’s General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.