Casey’s General Stores (NASDAQ:CASY) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Casey’s General Stores (NASDAQ:CASY) from a hold rating to a buy rating in a report published on Tuesday.

A number of other analysts have also recently weighed in on the stock. BMO Capital Markets reaffirmed a “market perform” rating and set a $450.00 target price (up previously from $400.00) on shares of Casey’s General Stores in a research note on Wednesday, December 18th. Royal Bank of Canada boosted their price objective on 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 raised Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Evercore ISI lifted their price target on Casey’s General Stores from $460.00 to $470.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Casey’s General Stores from $451.00 to $454.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $424.00.

Casey’s General Stores Stock Performance

NASDAQ:CASY opened at $420.54 on Tuesday. Casey’s General Stores has a twelve month low of $287.77 and a twelve month high of $445.17. The company has a quick ratio of 0.49, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. The stock’s 50-day simple moving average is $410.51 and its 200 day simple moving average is $396.45. The firm has a market capitalization of $15.61 billion, a PE ratio of 29.31, a price-to-earnings-growth ratio of 2.43 and a beta of 0.83.

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

Casey’s General Stores Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 17th. Stockholders of record on Monday, February 3rd were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.00 annualized dividend and a dividend yield of 0.48%. Casey’s General Stores’s payout ratio is presently 13.94%.

Insider Activity

In other Casey’s General Stores news, Director Mike Spanos acquired 500 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average cost of $396.76 per share, with a total value of $198,380.00. Following the completion of the transaction, the director now directly owns 3,097 shares of the company’s stock, valued at approximately $1,228,765.72. This represents a 19.25 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 transaction, 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. Corporate insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On Casey’s General Stores

Hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James Financial Inc. bought a new stake in Casey’s General Stores during the fourth quarter valued at approximately $236,500,000. Norges Bank bought a new stake in shares of Casey’s General Stores during the 4th quarter valued at $175,607,000. Wellington Management Group LLP increased its stake in shares of Casey’s General Stores by 160.1% in the 4th quarter. Wellington Management Group LLP now owns 428,201 shares of the company’s stock worth $169,666,000 after purchasing an additional 263,545 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Casey’s General Stores in the 3rd quarter worth $959,880,000. Finally, Franklin Resources Inc. raised its holdings in Casey’s General Stores by 49.9% in the 3rd quarter. Franklin Resources Inc. now owns 524,237 shares of the company’s stock worth $204,861,000 after purchasing an additional 174,586 shares during the period. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Company Profile

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.