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

Casey’s General Stores, Inc. (NASDAQ:CASY) has been given a consensus rating of “Moderate Buy” by the eleven brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $407.64.

A number of brokerages recently commented on CASY. Evercore ISI raised their price target on Casey’s General Stores from $410.00 to $435.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. BMO Capital Markets lifted their price target on Casey’s General Stores from $305.00 to $400.00 and gave the company a “market perform” rating in a research note on Thursday, June 13th. Wells Fargo & Company raised 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. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Casey’s General Stores from $420.00 to $444.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Benchmark restated a “buy” rating and issued a $410.00 target price on shares of Casey’s General Stores in a research report on Tuesday, September 10th.

Casey’s General Stores Price Performance

Shares of NASDAQ CASY opened at $370.59 on Friday. The business’s 50 day moving average is $373.10 and its 200-day moving average is $352.39. The firm has a market cap of $13.75 billion, a P/E ratio of 27.59 and a beta of 0.80. Casey’s General Stores has a 1-year low of $260.13 and a 1-year high of $401.07. The company has a current ratio of 0.84, a quick ratio of 0.44 and a debt-to-equity ratio of 0.44.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period last year, the firm earned $4.52 earnings per share. Casey’s General Stores’s revenue for the quarter was up 5.9% compared to the same quarter last year. Equities research analysts predict that Casey’s General Stores will post 14.01 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.54%. The ex-dividend date is Friday, November 1st. Casey’s General Stores’s payout ratio is currently 14.89%.

Insiders Place Their Bets

In related news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the stock in a transaction on 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 completion of the sale, the insider now directly owns 9,044 shares of the company’s stock, valued at approximately $3,438,890.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Darren M. Rebelez sold 13,500 shares of the 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 completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 shares were sold at an average price of $380.24, for a total value of $1,140,720.00. Following the completion of the transaction, the insider now owns 9,044 shares in the company, valued at approximately $3,438,890.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Casey’s General Stores

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new stake in Casey’s General Stores during the 1st quarter worth approximately $30,000. Park Place Capital Corp purchased a new position in Casey’s General Stores in the 2nd quarter worth approximately $31,000. Advisors Asset Management Inc. bought a new position in shares of Casey’s General Stores in the 1st quarter worth $32,000. Innealta Capital LLC bought a new position in Casey’s General Stores in the second quarter valued at $32,000. Finally, V Square Quantitative Management LLC bought a new stake in Casey’s General Stores during the fourth quarter worth about $35,000. 85.63% of the stock is currently owned by institutional investors.

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.