Royal Bank of Canada Increases Casey’s General Stores (NASDAQ:CASY) Price Target to $428.00

Casey’s General Stores (NASDAQ:CASY) had its price target lifted by Royal Bank of Canada from $403.00 to $428.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

CASY has been the topic of a number of other research reports. Wells Fargo & Company raised their price objective on shares of Casey’s General Stores from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Deutsche Bank Aktiengesellschaft lifted their price target 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. Gordon Haskett began coverage on shares of Casey’s General Stores in a research report on Monday, November 4th. They issued a “hold” rating and a $400.00 price target for the company. Melius Research started coverage on Casey’s General Stores in a report on Monday, September 23rd. They set a “buy” rating and a $435.00 price objective on the stock. Finally, StockNews.com upgraded Casey’s General Stores from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $410.33.

Casey’s General Stores Stock Performance

NASDAQ:CASY opened at $425.70 on Tuesday. Casey’s General Stores has a 12 month low of $266.58 and a 12 month high of $439.68. 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 capitalization of $15.80 billion, a PE ratio of 30.98 and a beta of 0.80. The business’s fifty day moving average price is $403.94 and its 200 day moving average price is $380.83.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Monday, December 9th. The company reported $4.85 EPS for the quarter, beating analysts’ consensus estimates of $4.29 by $0.56. The business had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $4.03 billion. Casey’s General Stores had a return on equity of 17.07% and a net margin of 3.40%. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.24 EPS. On average, sell-side analysts anticipate that Casey’s General Stores will post 14.22 earnings per share for the current fiscal year.

Casey’s General Stores Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 17th. Investors of record on Monday, February 3rd will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, February 3rd. Casey’s General Stores’s dividend payout ratio is currently 14.56%.

Insider Buying and Selling at Casey’s General Stores

In related news, Director Mike Spanos bought 267 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were acquired at an average price of $376.18 per share, with a total value of $100,440.06. Following the completion of the acquisition, the director now owns 2,594 shares in the company, valued at approximately $975,810.92. This trade represents a 11.47 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.56% of the stock is owned by company insiders.

Institutional Investors Weigh In On Casey’s General Stores

Several hedge funds have recently modified their holdings of CASY. SG Americas Securities LLC acquired a new stake in shares of Casey’s General Stores in the 2nd quarter worth $2,183,000. Sequoia Financial Advisors LLC lifted its position in Casey’s General Stores by 19.5% in the second quarter. Sequoia Financial Advisors LLC now owns 2,215 shares of the company’s stock valued at $845,000 after purchasing an additional 362 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in Casey’s General Stores by 80.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 2,800 shares of the company’s stock valued at $1,068,000 after purchasing an additional 1,245 shares in the last quarter. Oak Ridge Investments LLC acquired a new position in Casey’s General Stores during the 2nd quarter worth approximately $658,000. Finally, AdvisorNet Financial Inc raised its stake in shares of Casey’s General Stores by 10.1% during the 2nd quarter. AdvisorNet Financial Inc now owns 317 shares of the company’s stock worth $121,000 after buying an additional 29 shares in the last quarter. 85.63% of the stock is owned by institutional investors and hedge funds.

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.