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

Shares of Casey’s General Stores, Inc. (NASDAQ:CASY) have received an average rating of “Moderate Buy” from the twelve ratings firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $408.25.

A number of analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Casey’s General Stores from $451.00 to $454.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. StockNews.com lowered Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 3rd. Gordon Haskett began coverage on Casey’s General Stores in a report on Monday, November 4th. They issued a “hold” rating and a $400.00 target price on the stock. Evercore ISI upped their price target on Casey’s General Stores from $435.00 to $440.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Royal Bank of Canada raised their price objective on shares of Casey’s General Stores from $393.00 to $403.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 5th.

Casey’s General Stores Stock Performance

Shares of CASY stock opened at $427.88 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.84 and a quick ratio of 0.44. The firm has a market cap of $15.88 billion, a P/E ratio of 31.14 and a beta of 0.79. The stock’s 50-day moving average is $390.34 and its two-hundred day moving average is $373.12. Casey’s General Stores has a fifty-two week low of $266.56 and a fifty-two week high of $428.61.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, beating analysts’ consensus estimates of $4.54 by $0.29. Casey’s General Stores had a return on equity of 17.07% and a net margin of 3.40%. The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same quarter in the prior year, the firm posted $4.52 EPS. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. Analysts predict that Casey’s General Stores will post 14.24 earnings per share for the current fiscal year.

Casey’s General Stores Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Friday, November 1st. Casey’s General Stores’s payout ratio is presently 14.56%.

Insider Buying and Selling at Casey’s General Stores

In other Casey’s General Stores news, Director Mike Spanos acquired 267 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was acquired at an average cost of $376.18 per share, for a total transaction of $100,440.06. Following the transaction, the director now owns 2,594 shares of the company’s stock, valued at $975,810.92. This trade represents a 11.47 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Darren M. Rebelez sold 13,500 shares of Casey’s General Stores 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 completion of the sale, the chief executive officer now directly owns 73,838 shares in the company, valued at $27,655,284.52. This represents a 15.46 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On Casey’s General Stores

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. CreativeOne Wealth LLC acquired a new position in Casey’s General Stores during the first quarter valued at approximately $253,000. Advisors Asset Management Inc. acquired a new position in Casey’s General Stores during the first quarter worth $32,000. Price T Rowe Associates Inc. MD raised its position in Casey’s General Stores by 9.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 174,421 shares of the company’s stock worth $55,546,000 after acquiring an additional 15,535 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Casey’s General Stores by 1.4% in the first quarter. Janus Henderson Group PLC now owns 768,060 shares of the company’s stock valued at $244,592,000 after acquiring an additional 10,841 shares during the last quarter. Finally, Dynasty Wealth Management LLC bought a new position in shares of Casey’s General Stores in the 1st quarter valued at about $609,000. 85.63% of the stock is owned by 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.