Casey’s General Stores (NASDAQ:CASY) PT Raised to $410.00

Casey’s General Stores (NASDAQ:CASY) had its target price lifted by Benchmark from $350.00 to $410.00 in a research note published on Thursday, Benzinga reports. Benchmark currently has a buy rating on the stock.

A number of other equities analysts have also weighed in on CASY. Evercore ISI decreased their price objective on Casey’s General Stores from $350.00 to $345.00 and set an outperform rating for the company in a report on Tuesday, April 16th. StockNews.com upgraded Casey’s General Stores from a buy rating to a strong-buy rating in a research report on Wednesday. BMO Capital Markets upped their price objective on Casey’s General Stores from $290.00 to $305.00 and gave the stock a market perform rating in a research report on Wednesday, March 13th. Northcoast Research lowered shares of Casey’s General Stores from a buy rating to a neutral rating in a report on Wednesday, May 15th. Finally, Royal Bank of Canada boosted their target price on shares of Casey’s General Stores from $322.00 to $361.00 and gave the company a sector perform rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $380.11.

Casey’s General Stores Stock Performance

Shares of Casey’s General Stores stock opened at $372.02 on Thursday. The firm has a market capitalization of $13.77 billion, a P/E ratio of 27.70, a PEG ratio of 2.73 and a beta of 0.83. The company has a quick ratio of 0.42, a current ratio of 0.87 and a debt-to-equity ratio of 0.52. The company has a 50 day moving average price of $327.90 and a 200 day moving average price of $302.28. Casey’s General Stores has a 52 week low of $216.95 and a 52 week high of $389.43.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Tuesday, June 11th. The company reported $2.34 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.64. Casey’s General Stores had a return on equity of 17.25% and a net margin of 3.38%. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the previous year, the company posted $1.49 earnings per share. The company’s revenue was up 8.2% compared to the same quarter last year. Sell-side analysts expect that Casey’s General Stores will post 14.13 EPS for the current year.

Casey’s General Stores Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $2.00 dividend on an annualized basis and a yield of 0.54%. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.43. Casey’s General Stores’s dividend payout ratio (DPR) is currently 12.81%.

Hedge Funds Weigh In On Casey’s General Stores

A number of large investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Casey’s General Stores during the fourth quarter worth about $115,799,000. Congress Asset Management Co. MA purchased a new position in Casey’s General Stores in the 1st quarter valued at about $112,081,000. Point72 Asset Management L.P. boosted its holdings in Casey’s General Stores by 561.7% in the 4th quarter. Point72 Asset Management L.P. now owns 273,168 shares of the company’s stock worth $75,050,000 after buying an additional 231,887 shares during the last quarter. Principal Financial Group Inc. increased its stake in Casey’s General Stores by 113.0% during the 1st quarter. Principal Financial Group Inc. now owns 291,838 shares of the company’s stock worth $92,936,000 after buying an additional 154,803 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Casey’s General Stores by 142.8% during the third quarter. Envestnet Asset Management Inc. now owns 242,923 shares of the company’s stock valued at $65,959,000 after acquiring an additional 142,884 shares during the last quarter. 85.63% of the stock is currently owned by institutional investors and hedge funds.

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.