JPMorgan Chase & Co. Boosts Casey’s General Stores (NASDAQ:CASY) Price Target to $300.00

Casey’s General Stores (NASDAQ:CASY) had its price objective lifted by JPMorgan Chase & Co. from $298.00 to $300.00 in a report released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts have also weighed in on CASY. StockNews.com lowered Casey’s General Stores from a strong-buy rating to a buy rating in a research report on Saturday, August 3rd. Benchmark reiterated a buy rating and set a $410.00 target price on shares of Casey’s General Stores in a report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Casey’s General Stores from $420.00 to $444.00 and gave the company a buy rating in a report on Monday, July 29th. Royal Bank of Canada reiterated a sector perform rating and set a $393.00 price objective on shares of Casey’s General Stores in a research note on Monday, July 29th. Finally, Northcoast Research raised shares of Casey’s General Stores from a neutral rating to a buy rating and set a $410.00 price target for the company in a research report on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Casey’s General Stores currently has a consensus rating of Moderate Buy and an average target price of $401.20.

Casey’s General Stores Stock Down 1.8 %

Shares of NASDAQ:CASY opened at $373.82 on Wednesday. The company has a current ratio of 0.87, a quick ratio of 0.42 and a debt-to-equity ratio of 0.52. The firm has a market cap of $13.87 billion, a price-to-earnings ratio of 27.83, a PEG ratio of 2.52 and a beta of 0.80. The stock’s 50-day moving average price is $373.57 and its two-hundred day moving average price is $342.55. Casey’s General Stores has a 12-month low of $238.44 and a 12-month high of $401.07.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.54 by $0.29. The firm had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.15 billion. Casey’s General Stores had a net margin of 3.38% and a return on equity of 17.25%. Casey’s General Stores’s revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.52 earnings per share. On average, research analysts forecast that Casey’s General Stores will post 14.06 EPS for the current year.

Casey’s General Stores Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.54%. The ex-dividend date is Friday, November 1st. Casey’s General Stores’s dividend payout ratio (DPR) is 14.89%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC boosted its stake in Casey’s General Stores by 1.4% during the 1st quarter. Janus Henderson Group PLC now owns 768,060 shares of the company’s stock valued at $244,592,000 after acquiring an additional 10,841 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Casey’s General Stores by 3.2% during the second quarter. Dimensional Fund Advisors LP now owns 468,650 shares of the company’s stock worth $178,822,000 after purchasing an additional 14,750 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in Casey’s General Stores by 20.4% in the second quarter. Envestnet Asset Management Inc. now owns 458,044 shares of the company’s stock worth $174,771,000 after purchasing an additional 77,515 shares in the last quarter. Norges Bank bought a new stake in Casey’s General Stores in the fourth quarter valued at about $115,799,000. Finally, Congress Asset Management Co. MA acquired a new stake in Casey’s General Stores during the first quarter valued at approximately $112,081,000. 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.