Casey’s General Stores (NASDAQ:CASY) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of Casey’s General Stores (NASDAQ:CASY) from a buy rating to a hold rating in a report released on Sunday morning.

Several other research analysts also recently weighed in on the stock. Stephens upped their target price on shares of Casey’s General Stores from $570.00 to $600.00 and gave the stock an “overweight” rating in a report on Wednesday, December 3rd. KeyCorp reaffirmed an “overweight” rating and issued a $700.00 price objective on shares of Casey’s General Stores in a research note on Thursday, February 12th. Deutsche Bank Aktiengesellschaft set a $688.00 target price on Casey’s General Stores in a research note on Thursday, January 8th. Bank of America started coverage on shares of Casey’s General Stores in a report on Friday, January 9th. They set a “buy” rating for the company. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $530.00 price objective on shares of Casey’s General Stores in a research report on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $615.50.

Casey’s General Stores Trading Up 0.6%

Casey’s General Stores stock opened at $667.22 on Friday. Casey’s General Stores has a 12-month low of $372.08 and a 12-month high of $678.67. The firm has a market capitalization of $24.73 billion, a price-to-earnings ratio of 41.03, a P/E/G ratio of 2.36 and a beta of 0.68. The firm has a 50 day moving average of $608.58 and a 200 day moving average of $563.11. The company has a current ratio of 1.05, a quick ratio of 0.65 and a debt-to-equity ratio of 0.62.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Tuesday, December 9th. The company reported $5.53 earnings per share for the quarter, topping analysts’ consensus estimates of $4.92 by $0.61. The business had revenue of $4.51 billion during the quarter, compared to analyst estimates of $4.51 billion. Casey’s General Stores had a net margin of 3.58% and a return on equity of 16.89%. The company’s revenue was up 14.2% on a year-over-year basis. During the same period in the prior year, the business posted $4.85 earnings per share. As a group, research analysts predict that Casey’s General Stores will post 13.94 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Sunday, February 1st were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, January 30th. Casey’s General Stores’s payout ratio is currently 14.02%.

Insider Buying and Selling at Casey’s General Stores

In other Casey’s General Stores news, Director Moats Maria Castanon purchased 300 shares of the stock in a transaction dated Monday, January 5th. The stock was purchased at an average price of $554.66 per share, with a total value of $166,398.00. Following the transaction, the director owned 803 shares of the company’s stock, valued at approximately $445,391.98. This trade represents a 59.64% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Foster Dykema Cabot & Partners LLC purchased a new stake in shares of Casey’s General Stores during the third quarter worth about $25,000. Westside Investment Management Inc. boosted its stake in Casey’s General Stores by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 46 shares of the company’s stock worth $26,000 after purchasing an additional 23 shares in the last quarter. True Wealth Design LLC grew its position in Casey’s General Stores by 350.0% during the 4th quarter. True Wealth Design LLC now owns 54 shares of the company’s stock worth $30,000 after purchasing an additional 42 shares during the last quarter. Central Pacific Bank Trust Division increased its stake in Casey’s General Stores by 52.8% during the 4th quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock valued at $30,000 after purchasing an additional 19 shares in the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new position in Casey’s General Stores during the 3rd quarter valued at approximately $33,000. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Casey’s General Stores Company Profile

Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.