KeyCorp Increases Casey’s General Stores (NASDAQ:CASY) Price Target to $550.00

Casey’s General Stores (NASDAQ:CASY) had its price objective lifted by KeyCorp from $500.00 to $550.00 in a research report report published on Wednesday,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

CASY has been the subject of several other reports. Evercore ISI increased their price objective on Casey’s General Stores from $450.00 to $460.00 and gave the stock an “outperform” rating in a report on Tuesday, April 1st. Wall Street Zen lowered Casey’s General Stores from a “buy” rating to a “hold” rating in a report on Friday, May 30th. Gordon Haskett upgraded Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Wells Fargo & Company increased their price objective on Casey’s General Stores from $460.00 to $540.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Royal Bank of Canada set a $438.00 price objective on Casey’s General Stores and gave the stock a “sector perform” rating in a report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Casey’s General Stores currently has an average rating of “Moderate Buy” and an average target price of $452.43.

Casey’s General Stores Stock Performance

Shares of Casey’s General Stores stock opened at $499.53 on Wednesday. The stock has a market cap of $18.54 billion, a PE ratio of 34.81, a price-to-earnings-growth ratio of 2.40 and a beta of 0.65. The business has a fifty day simple moving average of $450.09 and a 200-day simple moving average of $425.25. The company has a quick ratio of 0.49, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. Casey’s General Stores has a 12 month low of $350.00 and a 12 month high of $509.08.

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

Casey’s General Stores Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be given a $0.57 dividend. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.50. This represents a $2.28 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Friday, August 1st. Casey’s General Stores’s dividend payout ratio (DPR) is currently 13.94%.

Insider Activity at Casey’s General Stores

In related news, insider Katrina S. Lindsey sold 250 shares of the business’s stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $437.01, for a total transaction of $109,252.50. Following the transaction, the insider now directly owns 2,443 shares in the company, valued at $1,067,615.43. The trade was a 9.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.56% of the company’s stock.

Hedge Funds Weigh In On Casey’s General Stores

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Casey’s General Stores by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 3,799,104 shares of the company’s stock valued at $1,505,319,000 after purchasing an additional 44,295 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Casey’s General Stores by 1.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,776,323 shares of the company’s stock valued at $703,833,000 after purchasing an additional 31,131 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Casey’s General Stores by 190.6% during the first quarter. Wellington Management Group LLP now owns 1,244,311 shares of the company’s stock valued at $540,081,000 after purchasing an additional 816,110 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Casey’s General Stores by 42.0% during the first quarter. JPMorgan Chase & Co. now owns 1,036,426 shares of the company’s stock valued at $449,851,000 after purchasing an additional 306,628 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Casey’s General Stores by 29.5% during the fourth quarter. Franklin Resources Inc. now owns 678,778 shares of the company’s stock valued at $268,952,000 after purchasing an additional 154,541 shares in the last quarter. 85.63% of the stock is currently 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.