Casey’s General Stores, Inc. (NASDAQ:CASY) Receives $401.20 Average Target Price from Analysts

Casey’s General Stores, Inc. (NASDAQ:CASY) has been given an average recommendation of “Moderate Buy” by the ten brokerages that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $401.20.

A number of research firms recently weighed in on CASY. Deutsche Bank Aktiengesellschaft upped their price target on Casey’s General Stores from $420.00 to $444.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Wells Fargo & Company increased their target price on Casey’s General Stores from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. BMO Capital Markets boosted their price target on shares of Casey’s General Stores from $305.00 to $400.00 and gave the stock a “market perform” rating in a report on Thursday, June 13th. Royal Bank of Canada increased their price objective on shares of Casey’s General Stores from $393.00 to $403.00 and gave the company a “sector perform” rating in a report on Thursday, September 5th. Finally, Evercore ISI boosted their target price on shares of Casey’s General Stores from $410.00 to $435.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th.

Insider Buying and Selling at Casey’s General Stores

In other news, CEO Darren M. Rebelez sold 13,500 shares of Casey’s General Stores stock in a transaction on Friday, September 6th. The stock was sold at an average price of $374.54, for a total transaction of $5,056,290.00. Following the transaction, the chief executive officer now owns 73,838 shares in the company, valued at approximately $27,655,284.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Darren M. Rebelez sold 13,500 shares of the firm’s 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 sale, the chief executive officer now owns 73,838 shares in the company, valued at approximately $27,655,284.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 $3,438,890.56. The disclosure for this sale can be found here. 0.47% of the stock is owned by company insiders.

Institutional Trading of Casey’s General Stores

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in Casey’s General Stores during the second quarter worth about $252,000. Sanctuary Advisors LLC purchased a new position in shares of Casey’s General Stores during the 2nd quarter worth approximately $1,904,000. Maven Securities LTD acquired a new stake in Casey’s General Stores in the 2nd quarter valued at approximately $382,000. Kestra Investment Management LLC purchased a new stake in Casey’s General Stores in the second quarter valued at approximately $704,000. Finally, Cetera Investment Advisers lifted its stake in Casey’s General Stores by 7.1% during the second quarter. Cetera Investment Advisers now owns 9,955 shares of the company’s stock worth $3,798,000 after purchasing an additional 664 shares in the last quarter. 85.63% of the stock is owned by institutional investors and hedge funds.

Casey’s General Stores Trading Down 1.4 %

Shares of NASDAQ:CASY opened at $375.31 on Wednesday. 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 has a 12-month low of $260.13 and a 12-month high of $401.07. The business has a 50 day moving average of $374.20 and a two-hundred day moving average of $346.15. The company has a market capitalization of $13.93 billion, a PE ratio of 27.95, a PEG ratio of 2.58 and a beta of 0.80.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.54 by $0.29. The firm had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.15 billion. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.52 earnings per share. As a group, analysts forecast that Casey’s General Stores will post 14.15 EPS for the current year.

Casey’s General Stores Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $2.00 dividend on an annualized basis and a yield of 0.53%. Casey’s General Stores’s payout ratio is 14.89%.

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.