Casey’s General Stores (NASDAQ:CASY) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Casey’s General Stores (NASDAQ:CASY) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

Several other research analysts have also issued reports on the stock. Royal Bank of Canada raised their target price on shares of Casey’s General Stores from $403.00 to $428.00 and gave the company a “sector perform” rating in a research note on Tuesday, December 10th. Evercore ISI raised their price objective on shares of 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. BMO Capital Markets reiterated 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 report on Wednesday, December 18th. Gordon Haskett upgraded Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $424.00.

Casey’s General Stores Stock Performance

Shares of Casey’s General Stores stock opened at $414.21 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.49. The firm has a 50 day simple moving average of $410.37 and a 200 day simple moving average of $398.39. Casey’s General Stores has a fifty-two week low of $290.00 and a fifty-two week high of $445.17. The firm has a market cap of $15.37 billion, a P/E ratio of 28.86, a P/E/G ratio of 2.40 and a beta of 0.83.

Casey’s General Stores (NASDAQ:CASY) last released 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. The company had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $4.03 billion. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.24 earnings per share. Sell-side analysts predict that Casey’s General Stores will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 17th. Shareholders of record on Monday, February 3rd were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Monday, February 3rd. Casey’s General Stores’s dividend payout ratio (DPR) is currently 13.94%.

Insider Transactions at Casey’s General Stores

In related news, Director Mike Spanos bought 500 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average price of $396.76 per share, for a total transaction of $198,380.00. Following the completion of the acquisition, the director now owns 3,097 shares of the company’s stock, valued at approximately $1,228,765.72. The trade was a 19.25 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Katrina S. Lindsey sold 450 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $427.13, for a total value of $192,208.50. Following the transaction, the insider now directly owns 2,247 shares of the company’s stock, valued at $959,761.11. This trade represents a 16.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On Casey’s General Stores

Institutional investors and hedge funds have recently made changes to their positions in the stock. YANKCOM Partnership bought a new position in shares of Casey’s General Stores in the fourth quarter valued at $34,000. Endeavor Private Wealth Inc. acquired a new stake in Casey’s General Stores in the fourth quarter valued at $36,000. Venturi Wealth Management LLC grew its position in shares of Casey’s General Stores by 941.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 125 shares of the company’s stock valued at $47,000 after acquiring an additional 113 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in shares of Casey’s General Stores by 24.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 149 shares of the company’s stock worth $59,000 after purchasing an additional 29 shares during the last quarter. Finally, Heck Capital Advisors LLC bought a new stake in shares of Casey’s General Stores in the 4th quarter valued at about $79,000. 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.