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

Shares of Casey’s General Stores, Inc. (NASDAQ:CASY) have been given an average rating of “Moderate Buy” by the eleven ratings firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $424.00.

A number of analysts recently weighed in on CASY shares. Gordon Haskett upgraded Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft increased their price target on Casey’s General Stores from $451.00 to $454.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Royal Bank of Canada increased their price target on Casey’s General Stores from $403.00 to $428.00 and gave the stock a “sector perform” rating in a report on Tuesday, December 10th. Evercore ISI increased their price target on Casey’s General Stores from $460.00 to $470.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, StockNews.com downgraded Casey’s General Stores from a “buy” rating to a “hold” rating in a report on Thursday, February 27th.

Casey’s General Stores Trading Up 0.0 %

Shares of CASY stock opened at $408.03 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.49 and a debt-to-equity ratio of 0.74. The stock has a market cap of $15.15 billion, a P/E ratio of 28.43, a price-to-earnings-growth ratio of 2.40 and a beta of 0.83. The stock has a 50 day simple moving average of $410.62 and a 200 day simple moving average of $399.02. Casey’s General Stores has a 1 year low of $290.00 and a 1 year high of $445.17.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Monday, December 9th. The company reported $4.85 earnings per share for the quarter, topping the consensus estimate of $4.29 by $0.56. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The firm had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same period in the prior year, the company earned $4.24 earnings per share. The company’s quarterly revenue was down 2.9% on a year-over-year basis. On average, research analysts predict that Casey’s General Stores will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 17th. Shareholders of record on Monday, February 3rd were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.00 annualized dividend and a dividend yield of 0.49%. Casey’s General Stores’s dividend payout ratio is currently 13.94%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CASY. Janney Montgomery Scott LLC grew its stake in Casey’s General Stores by 24.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 7,210 shares of the company’s stock valued at $2,709,000 after buying an additional 1,395 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Casey’s General Stores by 95.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 4,780 shares of the company’s stock valued at $1,796,000 after purchasing an additional 2,333 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Casey’s General Stores by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 21,227 shares of the company’s stock valued at $8,289,000 after purchasing an additional 6,066 shares in the last quarter. QRG Capital Management Inc. purchased a new position in shares of Casey’s General Stores during the 3rd quarter valued at $209,000. Finally, Pittenger & Anderson Inc. grew its position in shares of Casey’s General Stores by 5.7% during the 3rd quarter. Pittenger & Anderson Inc. now owns 1,485 shares of the company’s stock valued at $558,000 after purchasing an additional 80 shares in the last quarter. 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 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.