Casey’s General Stores, Inc. (NASDAQ:CASY) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Casey’s General Stores, Inc. (NASDAQ:CASY) have been assigned an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $312.63.

Several equities analysts have weighed in on the company. Benchmark restated a “buy” rating and set a $312.00 price target on shares of Casey’s General Stores in a report on Wednesday, March 6th. StockNews.com cut Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 21st. Evercore ISI lowered their price objective on Casey’s General Stores from $350.00 to $345.00 and set an “outperform” rating for the company in a research note on Tuesday. BMO Capital Markets raised their price objective on Casey’s General Stores from $290.00 to $305.00 and gave the company a “market perform” rating in a research note on Wednesday, March 13th. Finally, Wells Fargo & Company raised their price objective on Casey’s General Stores from $305.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th.

Institutional Investors Weigh In On Casey’s General Stores

Institutional investors and hedge funds have recently modified their holdings of the business. Money Concepts Capital Corp lifted its stake in shares of Casey’s General Stores by 62.7% during the 4th quarter. Money Concepts Capital Corp now owns 122 shares of the company’s stock worth $27,000 after acquiring an additional 47 shares during the last quarter. Point72 Europe London LLP bought a new stake in shares of Casey’s General Stores during the 4th quarter worth approximately $27,000. BKM Wealth Management LLC bought a new stake in shares of Casey’s General Stores during the 4th quarter worth approximately $29,000. Rise Advisors LLC bought a new stake in shares of Casey’s General Stores during the 1st quarter worth approximately $30,000. Finally, Sunbelt Securities Inc. lifted its stake in shares of Casey’s General Stores by 46.6% during the 2nd quarter. Sunbelt Securities Inc. now owns 129 shares of the company’s stock worth $31,000 after acquiring an additional 41 shares during the last quarter. 85.63% of the stock is owned by institutional investors.

Casey’s General Stores Stock Performance

NASDAQ CASY opened at $309.40 on Friday. The stock has a market capitalization of $11.45 billion, a PE ratio of 24.59, a P/E/G ratio of 2.50 and a beta of 0.83. The business has a 50 day simple moving average of $304.37 and a two-hundred day simple moving average of $285.78. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.89 and a quick ratio of 0.42. Casey’s General Stores has a 1-year low of $212.50 and a 1-year high of $324.40.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Tuesday, March 12th. The company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.13. The business had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.51 billion. Casey’s General Stores had a return on equity of 16.70% and a net margin of 3.23%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the business posted $2.36 EPS. On average, research analysts predict that Casey’s General Stores will post 12.81 EPS for the current fiscal year.

Casey’s General Stores Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend is Tuesday, April 30th. Casey’s General Stores’s payout ratio is 13.67%.

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.