Wells Fargo & Company Boosts Casey’s General Stores (NASDAQ:CASY) Price Target to $425.00

Casey’s General Stores (NASDAQ:CASY) had its price objective upped by Wells Fargo & Company from $415.00 to $425.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities analysts have also issued research reports about the stock. StockNews.com lowered shares of Casey’s General Stores from a strong-buy rating to a buy rating in a report on Saturday, August 3rd. Deutsche Bank Aktiengesellschaft raised their price target on Casey’s General Stores from $420.00 to $444.00 and gave the company a buy rating in a research report on Monday, July 29th. Royal Bank of Canada upped their price objective on Casey’s General Stores from $393.00 to $403.00 and gave the stock a sector perform rating in a report on Thursday, September 5th. Evercore ISI raised their price objective on Casey’s General Stores from $410.00 to $435.00 and gave the company an outperform rating in a report on Monday, July 29th. Finally, Jefferies Financial Group boosted their target price on Casey’s General Stores from $342.00 to $445.00 and gave the stock a buy rating in a research report on Wednesday, June 12th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $401.20.

Casey’s General Stores Trading Down 1.8 %

Casey’s General Stores stock opened at $366.97 on Friday. The stock has a market cap of $13.62 billion, a P/E ratio of 27.32, a PEG ratio of 2.71 and a beta of 0.80. Casey’s General Stores has a fifty-two week low of $238.44 and a fifty-two week high of $401.07. The firm’s fifty day moving average price is $373.37 and its 200-day moving average price is $343.44. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.44 and a current ratio of 0.84.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share for the quarter, beating the consensus estimate of $4.54 by $0.29. The firm had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.15 billion. Casey’s General Stores had a return on equity of 17.07% and a net margin of 3.40%. The company’s revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the firm posted $4.52 EPS. Equities research analysts forecast that Casey’s General Stores will post 13.45 earnings per share for the current fiscal year.

Casey’s General Stores Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Friday, November 1st. Casey’s General Stores’s dividend payout ratio (DPR) is presently 14.89%.

Institutional Investors Weigh In On Casey’s General Stores

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Private Advisor Group LLC raised its stake in shares of Casey’s General Stores by 37.2% during the fourth quarter. Private Advisor Group LLC now owns 3,309 shares of the company’s stock valued at $909,000 after acquiring an additional 897 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Casey’s General Stores by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 265,915 shares of the company’s stock valued at $73,057,000 after purchasing an additional 6,867 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new stake in Casey’s General Stores in the 4th quarter worth approximately $82,000. Principal Securities Inc. purchased a new stake in Casey’s General Stores in the 4th quarter worth approximately $666,000. Finally, Versor Investments LP bought a new stake in shares of Casey’s General Stores in the 4th quarter worth approximately $495,000. 85.63% of the stock is currently owned by institutional investors.

About Casey’s General Stores

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.