Casey’s General Stores, Inc. (NASDAQ:CASY) Receives Average Rating of “Moderate Buy” from Brokerages

Casey’s General Stores, Inc. (NASDAQ:CASY) has earned a consensus rating of “Moderate Buy” from the seventeen research firms that are currently covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $621.3636.

Several brokerages recently issued reports on CASY. Deutsche Bank Aktiengesellschaft set a $688.00 price target on shares of Casey’s General Stores in a research note on Thursday, January 8th. Weiss Ratings restated a “buy (b)” rating on shares of Casey’s General Stores in a research report on Monday, December 29th. UBS Group restated a “neutral” rating on shares of Casey’s General Stores in a research report on Thursday, December 11th. BNP Paribas Exane initiated coverage on shares of Casey’s General Stores in a research report on Tuesday. They set an “outperform” rating and a $730.00 target price on the stock. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $530.00 price objective on shares of Casey’s General Stores in a research report on Wednesday, December 10th.

Casey’s General Stores Stock Performance

NASDAQ:CASY opened at $623.33 on Friday. The business’s fifty day moving average is $573.31 and its 200 day moving average is $545.22. The firm has a market cap of $23.11 billion, a price-to-earnings ratio of 38.34, a PEG ratio of 2.19 and a beta of 0.67. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.65 and a current ratio of 1.05. Casey’s General Stores has a 52-week low of $372.08 and a 52-week high of $647.99.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Tuesday, December 9th. The company reported $5.53 earnings per share for the quarter, beating analysts’ consensus estimates of $4.92 by $0.61. The business had revenue of $4.51 billion for the quarter, compared to the consensus estimate of $4.51 billion. Casey’s General Stores had a net margin of 3.58% and a return on equity of 16.89%. Casey’s General Stores’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period last year, the firm posted $4.85 earnings per share. Research analysts predict that Casey’s General Stores will post 13.94 EPS for the current year.

Casey’s General Stores Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Sunday, February 1st will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, January 30th. This represents a $2.28 dividend on an annualized basis and a yield of 0.4%. Casey’s General Stores’s dividend payout ratio is 14.02%.

Insider Buying and Selling at Casey’s General Stores

In other Casey’s General Stores news, Director Moats Maria Castanon acquired 300 shares of the business’s stock in a transaction on Monday, January 5th. The stock was bought at an average price of $554.66 per share, for a total transaction of $166,398.00. Following the acquisition, the director owned 803 shares in the company, valued at approximately $445,391.98. The trade was a 59.64% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.54% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vontobel Holding Ltd. lifted its holdings in Casey’s General Stores by 129.1% in the third quarter. Vontobel Holding Ltd. now owns 890,884 shares of the company’s stock valued at $503,635,000 after acquiring an additional 502,104 shares during the period. Norges Bank purchased a new stake in shares of Casey’s General Stores during the second quarter valued at approximately $210,151,000. Victory Capital Management Inc. boosted its stake in shares of Casey’s General Stores by 35.4% during the 3rd quarter. Victory Capital Management Inc. now owns 791,415 shares of the company’s stock valued at $447,403,000 after buying an additional 206,777 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Casey’s General Stores by 71.7% in the 2nd quarter. Invesco Ltd. now owns 483,907 shares of the company’s stock valued at $246,923,000 after acquiring an additional 202,033 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of Casey’s General Stores by 4,224.4% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 174,705 shares of the company’s stock worth $89,147,000 after purchasing an additional 170,665 shares during the period. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

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.