Casey’s General Stores (NASDAQ:CASY) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Casey’s General Stores (NASDAQ:CASY) from a buy rating to a hold rating in a research note issued to investors on Monday morning.

CASY has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft raised their target price on shares of Casey’s General Stores from $451.00 to $454.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. BMO Capital Markets restated a “market perform” rating and set a $450.00 price objective (up previously from $400.00) on shares of Casey’s General Stores in a research report on Wednesday, December 18th. Royal Bank of Canada upped their target price on shares of Casey’s General Stores from $403.00 to $428.00 and gave the stock a “sector perform” rating in a research report on Tuesday, December 10th. Gordon Haskett began coverage on Casey’s General Stores in a research report on Monday, November 4th. They set a “hold” rating and a $400.00 price target on the stock. Finally, Evercore ISI upped their price objective on Casey’s General Stores from $460.00 to $470.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $424.00.

Casey’s General Stores Stock Up 1.8 %

CASY opened at $435.35 on Monday. The firm has a market capitalization of $16.16 billion, a P/E ratio of 30.34, a price-to-earnings-growth ratio of 2.48 and a beta of 0.83. Casey’s General Stores has a one year low of $279.99 and a one year high of $439.68. The company has a fifty day moving average price of $409.54 and a 200-day moving average price of $394.60. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.49.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Monday, December 9th. The company reported $4.85 earnings per share for the quarter, topping analysts’ consensus estimates of $4.29 by $0.56. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The business had revenue of $3.95 billion for the quarter, compared to analyst estimates of $4.03 billion. During the same period in the prior year, the company earned $4.24 EPS. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. Equities research analysts expect that Casey’s General Stores will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, February 3rd. Casey’s General Stores’s dividend payout ratio is presently 13.94%.

Insiders Place Their Bets

In other news, Director Mike Spanos acquired 500 shares of the stock in a transaction dated Monday, December 23rd. The stock was purchased at an average cost of $396.76 per share, with a total value of $198,380.00. Following the completion of the purchase, the director now owns 3,097 shares in the company, valued at approximately $1,228,765.72. The trade was a 19.25 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Katrina S. Lindsey sold 450 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $427.13, for a total value of $192,208.50. Following the completion of the sale, the insider now directly owns 2,247 shares in the company, valued at $959,761.11. The trade was a 16.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Atomi Financial Group Inc. increased its stake in shares of Casey’s General Stores by 10.0% during the third quarter. Atomi Financial Group Inc. now owns 582 shares of the company’s stock valued at $219,000 after buying an additional 53 shares during the period. Ritholtz Wealth Management increased its position in Casey’s General Stores by 4.9% during the 3rd quarter. Ritholtz Wealth Management now owns 1,636 shares of the company’s stock valued at $615,000 after purchasing an additional 77 shares during the period. CHICAGO TRUST Co NA bought a new position in Casey’s General Stores in the 3rd quarter worth $253,000. Koshinski Asset Management Inc. lifted its position in shares of Casey’s General Stores by 237.4% in the 3rd quarter. Koshinski Asset Management Inc. now owns 2,463 shares of the company’s stock worth $925,000 after purchasing an additional 1,733 shares during the period. Finally, Wedge Capital Management L L P NC lifted its position in shares of Casey’s General Stores by 7.7% in the 3rd quarter. Wedge Capital Management L L P NC now owns 129,480 shares of the company’s stock worth $48,647,000 after purchasing an additional 9,302 shares during the period. Institutional investors own 85.63% of the company’s stock.

About Casey’s General Stores

Casey’s General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.