Deutsche Bank Aktiengesellschaft Increases Casey’s General Stores (NASDAQ:CASY) Price Target to $420.00

Casey’s General Stores (NASDAQ:CASY) had its price target hoisted by Deutsche Bank Aktiengesellschaft from $375.00 to $420.00 in a report published on Thursday, Benzinga reports. The brokerage currently has a buy rating on the stock.

CASY has been the subject of several other reports. BMO Capital Markets increased their target price on Casey’s General Stores from $290.00 to $305.00 and gave the company a market perform rating in a report on Wednesday, March 13th. Jefferies Financial Group lifted their target price on shares of Casey’s General Stores from $342.00 to $445.00 and gave the stock a buy rating in a research note on Wednesday, June 12th. Benchmark reiterated a buy rating and issued a $312.00 target price on shares of Casey’s General Stores in a research report on Wednesday, March 6th. Wells Fargo & Company boosted their price target on shares of Casey’s General Stores from $305.00 to $340.00 and gave the stock an overweight rating in a research report on Tuesday, March 5th. Finally, Royal Bank of Canada upped their price objective 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, June 12th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $380.11.

Casey’s General Stores Stock Down 1.2 %

Casey’s General Stores stock opened at $372.02 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.87 and a quick ratio of 0.42. The stock has a market capitalization of $13.77 billion, a PE ratio of 27.70, a price-to-earnings-growth ratio of 2.70 and a beta of 0.83. The business has a 50 day simple moving average of $327.90 and a 200-day simple moving average of $302.44. Casey’s General Stores has a 12 month low of $216.95 and a 12 month high of $389.43.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Tuesday, June 11th. The company reported $2.34 EPS for the quarter, topping the consensus estimate of $1.70 by $0.64. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.47 billion. Casey’s General Stores had a net margin of 3.38% and a return on equity of 17.25%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.49 EPS. On average, analysts anticipate that Casey’s General Stores will post 14.18 EPS for the current fiscal year.

Casey’s General Stores Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be issued 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 an increase from Casey’s General Stores’s previous quarterly dividend of $0.43. Casey’s General Stores’s dividend payout ratio (DPR) is 12.81%.

Hedge Funds Weigh In On Casey’s General Stores

A number of large investors have recently made changes to their positions in CASY. Impax Asset Management Group plc purchased a new position in Casey’s General Stores in the fourth quarter valued at about $2,596,000. Comerica Bank acquired a new position in shares of Casey’s General Stores during the 3rd quarter worth approximately $5,834,000. Steward Partners Investment Advisory LLC lifted its stake in Casey’s General Stores by 195.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,488 shares of the company’s stock valued at $958,000 after buying an additional 2,309 shares in the last quarter. Principal Securities Inc. acquired a new stake in Casey’s General Stores during the 4th quarter valued at $666,000. Finally, Azimuth Capital Investment Management LLC purchased a new position in Casey’s General Stores during the fourth quarter worth $8,498,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.

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.