Analysts Set Casey’s General Stores, Inc. (NASDAQ:CASY) PT at $453.00

Shares of Casey’s General Stores, Inc. (NASDAQ:CASY) have earned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $453.00.

CASY has been the topic of a number of research reports. The Goldman Sachs Group boosted their target price on shares of Casey’s General Stores from $385.00 to $450.00 and gave the stock a “neutral” rating in a report on Wednesday, June 11th. KeyCorp boosted their price objective on shares of Casey’s General Stores from $500.00 to $550.00 and gave the company an “overweight” rating in a research report on Wednesday, June 11th. Stephens reissued an “overweight” rating and issued a $490.00 price objective on shares of Casey’s General Stores in a research report on Tuesday, June 10th. BMO Capital Markets upped their price target on shares of Casey’s General Stores from $450.00 to $515.00 and gave the stock a “market perform” rating in a research report on Wednesday, June 11th. Finally, Wells Fargo & Company boosted their price objective on shares of Casey’s General Stores from $460.00 to $540.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 11th.

Casey’s General Stores Stock Down 0.2%

CASY opened at $506.16 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.49 and a debt-to-equity ratio of 0.74. Casey’s General Stores has a 1-year low of $350.52 and a 1-year high of $512.88. The company has a market capitalization of $18.79 billion, a PE ratio of 35.27, a PEG ratio of 2.40 and a beta of 0.65. The firm’s 50 day simple moving average is $453.67 and its two-hundred day simple moving average is $426.43.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Monday, June 9th. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $1.94 by $0.69. The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.95 billion. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The company’s revenue was up 10.9% on a year-over-year basis. During the same period last year, the firm earned $2.34 EPS. As a group, equities analysts forecast that Casey’s General Stores will post 13.94 EPS for the current year.

Casey’s General Stores Increases Dividend

The business 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 dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 0.45%. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, August 1st. Casey’s General Stores’s dividend payout ratio is 15.57%.

Insiders Place Their Bets

In other news, Director Allison M. Wing sold 1,000 shares of the firm’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $502.16, for a total transaction of $502,160.00. Following the completion of the transaction, the director now owns 3,058 shares in the company, valued at approximately $1,535,605.28. This trade represents a 24.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Katrina S. Lindsey sold 250 shares of the firm’s stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $437.01, for a total transaction of $109,252.50. Following the transaction, the insider now owns 2,443 shares of the company’s stock, valued at approximately $1,067,615.43. This trade represents a 9.28% decrease in their position. The disclosure for this sale can be found here. 0.56% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CASY. Wellington Management Group LLP boosted its holdings in shares of Casey’s General Stores by 190.6% in the first quarter. Wellington Management Group LLP now owns 1,244,311 shares of the company’s stock worth $540,081,000 after buying an additional 816,110 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Casey’s General Stores during the fourth quarter worth approximately $236,500,000. GAMMA Investing LLC boosted its holdings in shares of Casey’s General Stores by 54,448.8% during the first quarter. GAMMA Investing LLC now owns 543,852 shares of the company’s stock worth $236,054,000 after purchasing an additional 542,855 shares during the period. Norges Bank acquired a new stake in shares of Casey’s General Stores during the fourth quarter worth approximately $175,607,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of 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 worth $449,851,000 after purchasing an additional 306,628 shares during the period. 85.63% of the stock is currently owned by institutional investors and hedge funds.

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.