Casey’s General Stores (NASDAQ:CASY) Now Covered by Melius Research

Stock analysts at Melius Research started coverage on shares of Casey’s General Stores (NASDAQ:CASY) in a research note issued on Monday, Benzinga reports. The brokerage set a “buy” rating and a $435.00 price target on the stock. Melius Research’s price target would indicate a potential upside of 16.98% from the company’s previous close.

CASY has been the topic of a number of other research reports. StockNews.com downgraded Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 3rd. Wells Fargo & Company upped their price objective on Casey’s General Stores from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Royal Bank of Canada raised their target price on Casey’s General Stores from $393.00 to $403.00 and gave the company a “sector perform” rating in a research report on Thursday, September 5th. Northcoast Research upgraded shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $410.00 price target for the company in a research report on Thursday, July 11th. Finally, Jefferies Financial Group lifted their price objective on shares of Casey’s General Stores from $342.00 to $445.00 and gave the stock a “buy” rating in a research report on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Casey’s General Stores has a consensus rating of “Moderate Buy” and a consensus target price of $407.64.

Casey’s General Stores Price Performance

Shares of CASY opened at $371.87 on Monday. The company has a quick ratio of 0.44, a current ratio of 0.84 and a debt-to-equity ratio of 0.44. The business’s fifty day moving average is $374.03 and its 200 day moving average is $349.03. The stock has a market cap of $13.80 billion, a P/E ratio of 27.69, a P/E/G ratio of 2.58 and a beta of 0.80. Casey’s General Stores has a 12-month low of $260.13 and a 12-month high of $401.07.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, beating the consensus estimate of $4.54 by $0.29. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the prior year, the company posted $4.52 earnings per share. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. Sell-side analysts anticipate that Casey’s General Stores will post 14.15 earnings per share for the current fiscal year.

Insider Activity at Casey’s General Stores

In other Casey’s General Stores news, CEO Darren M. Rebelez sold 13,500 shares of Casey’s General Stores stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $374.54, for a total transaction of $5,056,290.00. Following the completion of the sale, the chief executive officer now owns 73,838 shares of the company’s stock, valued at $27,655,284.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Thomas P. Brennan, Jr. sold 3,000 shares of Casey’s General Stores stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $380.24, for a total value of $1,140,720.00. Following the transaction, the insider now owns 9,044 shares in the company, valued at $3,438,890.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Darren M. Rebelez sold 13,500 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $374.54, for a total value of $5,056,290.00. Following the sale, the chief executive officer now owns 73,838 shares of the company’s stock, valued at $27,655,284.52. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. TrinityPoint Wealth LLC increased its position in shares of Casey’s General Stores by 2.3% during the fourth quarter. TrinityPoint Wealth LLC now owns 2,807 shares of the company’s stock valued at $771,000 after buying an additional 63 shares during the period. Coldstream Capital Management Inc. bought a new stake in shares of Casey’s General Stores in the fourth quarter worth $222,000. D.A. Davidson & CO. grew its stake in shares of Casey’s General Stores by 3.6% during the 4th quarter. D.A. Davidson & CO. now owns 1,733 shares of the company’s stock valued at $476,000 after purchasing an additional 61 shares during the period. Franklin Resources Inc. grew its position in Casey’s General Stores by 139.6% during the fourth quarter. Franklin Resources Inc. now owns 39,569 shares of the company’s stock valued at $10,871,000 after buying an additional 23,052 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of Casey’s General Stores by 4.3% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 29,141 shares of the company’s stock worth $8,006,000 after purchasing an additional 1,211 shares in the last quarter. Institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Company Profile

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.