Casey’s General Stores (NASDAQ:CASY) Stock Price Expected to Rise, Deutsche Bank Aktiengesellschaft Analyst Says

Casey’s General Stores (NASDAQ:CASY) had its price target increased by Deutsche Bank Aktiengesellschaft from $451.00 to $454.00 in a research report sent to investors on Wednesday,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

A number of other research analysts also recently issued reports on CASY. JPMorgan Chase & Co. downgraded shares of Casey’s General Stores from a “neutral” rating to an “underweight” rating and boosted their target price for the company from $300.00 to $337.00 in a research report on Thursday, September 19th. Royal Bank of Canada lifted their price objective on shares of Casey’s General Stores from $393.00 to $403.00 and gave the company a “sector perform” rating in a report on Thursday, September 5th. Melius Research started coverage on shares of Casey’s General Stores in a report on Monday, September 23rd. They issued a “buy” rating and a $435.00 price objective for the company. Northcoast Research raised shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $410.00 price objective for the company in a report on Thursday, July 11th. Finally, StockNews.com cut shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $408.25.

Casey’s General Stores Price Performance

Shares of CASY opened at $412.85 on Wednesday. The company has a market cap of $15.32 billion, a price-to-earnings ratio of 30.05 and a beta of 0.79. Casey’s General Stores has a twelve month low of $266.56 and a twelve month high of $420.27. 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 company has a 50 day moving average of $382.08 and a two-hundred day moving average of $366.37.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share 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 period last year, the firm earned $4.52 earnings per share. Casey’s General Stores’s revenue was up 5.9% compared to the same quarter last year. As a group, analysts predict that Casey’s General Stores will post 14.24 earnings per share for the current fiscal year.

Casey’s General Stores Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $2.00 annualized dividend and a yield of 0.48%. Casey’s General Stores’s payout ratio is 14.56%.

Insider Buying and Selling at Casey’s General Stores

In other news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $380.24, for a total value of $1,140,720.00. Following the transaction, the insider now directly owns 9,044 shares in the company, valued at approximately $3,438,890.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Darren M. Rebelez sold 13,500 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $374.54, for a total transaction of $5,056,290.00. Following the sale, the chief executive officer now directly owns 73,838 shares of the company’s stock, valued at $27,655,284.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas P. Brennan, Jr. sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $380.24, for a total transaction of $1,140,720.00. Following the sale, the insider now directly owns 9,044 shares in the company, valued at approximately $3,438,890.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Casey’s General Stores

Several large investors have recently added to or reduced their stakes in the business. AdvisorNet Financial Inc increased its position in shares of Casey’s General Stores by 10.1% in the 2nd quarter. AdvisorNet Financial Inc now owns 317 shares of the company’s stock valued at $121,000 after purchasing an additional 29 shares during the last quarter. V Square Quantitative Management LLC increased its position in shares of Casey’s General Stores by 22.5% in the 3rd quarter. V Square Quantitative Management LLC now owns 158 shares of the company’s stock valued at $59,000 after purchasing an additional 29 shares during the last quarter. Verus Capital Partners LLC increased its position in shares of Casey’s General Stores by 3.1% in the 3rd quarter. Verus Capital Partners LLC now owns 991 shares of the company’s stock valued at $372,000 after purchasing an additional 30 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Casey’s General Stores by 3.3% in the 3rd quarter. CIBC Asset Management Inc now owns 1,078 shares of the company’s stock valued at $405,000 after purchasing an additional 34 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in shares of Casey’s General Stores by 0.3% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 12,769 shares of the company’s stock valued at $4,872,000 after purchasing an additional 37 shares during the last quarter. 85.63% of the stock is owned by hedge funds and other institutional investors.

About Casey’s General Stores

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.