Casey’s General Stores, Inc. (NASDAQ:CASY) Receives $401.22 Average Price Target from Analysts

Casey’s General Stores, Inc. (NASDAQ:CASY) has been given a consensus rating of “Moderate Buy” by the nine research firms that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $401.22.

Several equities research analysts recently weighed in on CASY shares. Benchmark reiterated a “buy” rating and set a $410.00 price objective on shares of Casey’s General Stores in a research note on Wednesday. Evercore ISI increased their price objective on shares of Casey’s General Stores from $405.00 to $410.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. StockNews.com lowered shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Northcoast Research upgraded shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $410.00 price objective on the stock in a research note on Thursday, July 11th. Finally, Royal Bank of Canada increased their price objective on shares of Casey’s General Stores from $322.00 to $361.00 and gave the stock a “sector perform” rating in a research note on Wednesday, June 12th.

Hedge Funds Weigh In On Casey’s General Stores

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BKM Wealth Management LLC acquired a new position in Casey’s General Stores in the 4th quarter worth approximately $29,000. Rise Advisors LLC acquired a new position in Casey’s General Stores in the 1st quarter worth approximately $30,000. Park Place Capital Corp acquired a new position in Casey’s General Stores in the 2nd quarter worth approximately $31,000. Advisors Asset Management Inc. purchased a new stake in Casey’s General Stores in the 1st quarter worth approximately $32,000. Finally, V Square Quantitative Management LLC purchased a new stake in Casey’s General Stores in the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Stock Performance

Shares of CASY stock opened at $391.16 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.87. Casey’s General Stores has a one year low of $238.44 and a one year high of $401.07. The company’s 50-day simple moving average is $360.95 and its 200-day simple moving average is $323.56. The stock has a market capitalization of $14.52 billion, a price-to-earnings ratio of 29.13, a PEG ratio of 2.69 and a beta of 0.80.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Tuesday, June 11th. The company reported $2.34 EPS for the quarter, topping the consensus estimate of $1.70 by $0.64. Casey’s General Stores had a net margin of 3.38% and a return on equity of 17.25%. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter last year, the company posted $1.49 earnings per share. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. Equities analysts anticipate that Casey’s General Stores will post 14.2 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be paid a $0.50 dividend. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, August 1st. This represents a $2.00 dividend on an annualized basis and a yield of 0.51%. Casey’s General Stores’s dividend payout ratio (DPR) is currently 12.81%.

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.