Casey’s General Stores, Inc. (NASDAQ:CASY) Receives $424.00 Consensus PT from Analysts

Shares of Casey’s General Stores, Inc. (NASDAQ:CASY) have been assigned an average rating of “Moderate Buy” from the eleven ratings firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and eight have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $424.00.

Several equities analysts have recently issued reports on CASY shares. Deutsche Bank Aktiengesellschaft lifted their price target on Casey’s General Stores from $451.00 to $454.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Royal Bank of Canada upped their target price on shares of Casey’s General Stores from $403.00 to $428.00 and gave the company a “sector perform” rating in a research note on Tuesday, December 10th. BMO Capital Markets reiterated a “market perform” rating and issued a $450.00 price target (up from $400.00) on shares of Casey’s General Stores in a research note on Wednesday, December 18th. StockNews.com downgraded shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Gordon Haskett raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Thursday.

Casey’s General Stores Stock Down 2.3 %

Shares of Casey’s General Stores stock opened at $432.17 on Friday. Casey’s General Stores has a 1 year low of $284.57 and a 1 year high of $445.17. The firm has a market cap of $16.04 billion, a price-to-earnings ratio of 30.12, a PEG ratio of 2.48 and a beta of 0.83. The company has a 50-day moving average of $410.19 and a 200 day moving average of $395.24. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.49.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Monday, December 9th. The company reported $4.85 earnings per share for the quarter, beating analysts’ consensus estimates of $4.29 by $0.56. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The business had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter last year, the firm earned $4.24 earnings per share. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Casey’s General Stores will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 17th. Shareholders of record on Monday, February 3rd will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, February 3rd. Casey’s General Stores’s dividend payout ratio is currently 13.94%.

Insider Transactions at Casey’s General Stores

In other Casey’s General Stores news, Director Mike Spanos acquired 500 shares of the stock in a transaction dated Monday, December 23rd. The shares were acquired at an average cost of $396.76 per share, for a total transaction of $198,380.00. Following the completion of the transaction, the director now directly owns 3,097 shares of the company’s stock, valued at approximately $1,228,765.72. The trade was a 19.25 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Katrina S. Lindsey sold 450 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $427.13, for a total value of $192,208.50. Following the sale, the insider now owns 2,247 shares of the company’s stock, valued at $959,761.11. This represents a 16.69 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CASY. Raymond James Financial Inc. purchased a new position in shares of Casey’s General Stores in the fourth quarter worth $236,500,000. Norges Bank purchased a new stake in Casey’s General Stores in the 4th quarter worth $175,607,000. Wellington Management Group LLP boosted its holdings in shares of Casey’s General Stores by 160.1% during the 4th quarter. Wellington Management Group LLP now owns 428,201 shares of the company’s stock valued at $169,666,000 after purchasing an additional 263,545 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Casey’s General Stores during the third quarter valued at about $959,880,000. Finally, Franklin Resources Inc. lifted its position in shares of Casey’s General Stores by 49.9% in the third quarter. Franklin Resources Inc. now owns 524,237 shares of the company’s stock worth $204,861,000 after buying an additional 174,586 shares in the last quarter. 85.63% of the stock is currently owned by institutional investors.

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.