Casey’s General Stores, Inc. (NASDAQ:CASY) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Casey’s General Stores, Inc. (NASDAQ:CASY) have earned a consensus recommendation of “Moderate Buy” from the nineteen analysts that are covering the firm, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $923.00.

Several brokerages have issued reports on CASY. Jefferies Financial Group upped their target price on Casey’s General Stores from $700.00 to $780.00 and gave the company a “buy” rating in a report on Tuesday, March 10th. William Blair began coverage on Casey’s General Stores in a report on Wednesday, May 20th. They issued an “outperform” rating for the company. BMO Capital Markets upped their target price on Casey’s General Stores from $700.00 to $950.00 and gave the company a “market perform” rating in a report on Thursday, June 11th. Capital One Financial assumed coverage on Casey’s General Stores in a report on Monday. They set an “equal weight” rating and a $896.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $1,000.00 price target on shares of Casey’s General Stores in a report on Monday, June 15th.

Hedge Funds Weigh In On Casey’s General Stores

A number of hedge funds have recently modified their holdings of CASY. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Casey’s General Stores by 179,938.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,659,164 shares of the company’s stock worth $1,469,747,000 after purchasing an additional 2,657,687 shares during the period. Norges Bank purchased a new position in shares of Casey’s General Stores during the 4th quarter worth $265,163,000. Franklin Resources Inc. grew its holdings in shares of Casey’s General Stores by 40.9% during the 4th quarter. Franklin Resources Inc. now owns 1,068,682 shares of the company’s stock worth $590,671,000 after purchasing an additional 310,470 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Casey’s General Stores by 175.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 471,536 shares of the company’s stock worth $260,622,000 after purchasing an additional 300,249 shares during the period. Finally, Corient Private Wealth LLC boosted its holdings in Casey’s General Stores by 115.9% during the 4th quarter. Corient Private Wealth LLC now owns 423,666 shares of the company’s stock valued at $234,164,000 after acquiring an additional 227,403 shares during the period. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Casey’s General Stores Stock Down 1.3%

Shares of NASDAQ:CASY opened at $831.67 on Tuesday. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The business has a fifty day moving average of $813.45 and a two-hundred day moving average of $698.71. The stock has a market cap of $30.74 billion, a P/E ratio of 43.41, a PEG ratio of 2.55 and a beta of 0.61. Casey’s General Stores has a 52-week low of $490.00 and a 52-week high of $927.85.

Casey’s General Stores (NASDAQ:CASY) last issued its earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate 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%.The firm’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.63 EPS. On average, research analysts expect that Casey’s General Stores will post 20.9 earnings per share for the current year.

Casey’s General Stores Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Saturday, August 1st will be issued a dividend of $0.65 per share. The ex-dividend date is Friday, July 31st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.3%. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.57. Casey’s General Stores’s dividend payout ratio (DPR) is currently 11.90%.

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.