Brokerages Set Casey’s General Stores, Inc. (NASDAQ:CASY) PT at $940.00

Casey’s General Stores, Inc. (NASDAQ:CASY) has been assigned a consensus rating of “Moderate Buy” from the twenty brokerages that are currently covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $940.00.

Several equities research analysts have issued reports on the company. KeyCorp increased their price target on Casey’s General Stores from $950.00 to $970.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. Wolfe Research reissued an “outperform” rating and set a $1,069.00 target price on shares of Casey’s General Stores in a research note on Thursday, June 11th. Weiss Ratings upgraded shares of Casey’s General Stores from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday, July 8th. Morgan Stanley raised shares of Casey’s General Stores to a “buy” rating in a research note on Wednesday, June 10th. Finally, BNP Paribas Exane reduced their price target on shares of Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating for the company in a report on Thursday, June 25th.

Casey’s General Stores Trading Up 0.9%

NASDAQ:CASY opened at $866.46 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. Casey’s General Stores has a 1-year low of $490.00 and a 1-year high of $927.85. The firm has a market capitalization of $32.07 billion, a price-to-earnings ratio of 45.22, a PEG ratio of 2.58 and a beta of 0.62. The business’s 50-day moving average price is $822.35 and its two-hundred day moving average price is $734.95.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, topping the consensus estimate of $3.31 by $1.06. The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.33 billion. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period last year, the business posted $2.63 earnings per share. On average, equities analysts expect that Casey’s General Stores will post 21.14 earnings per share for the current year.

Casey’s General Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Saturday, August 1st will be given a $0.65 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $2.60 annualized dividend and a yield of 0.3%. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.57. Casey’s General Stores’s payout ratio is presently 11.90%.

Insiders Place Their Bets

In other Casey’s General Stores news, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $838.16, for a total transaction of $4,777,512.00. Following the completion of the transaction, the chief financial officer owned 29,677 shares in the company, valued at approximately $24,874,074.32. This represents a 16.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Katrina S. Lindsey sold 2,000 shares of Casey’s General Stores stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $800.00, for a total value of $1,600,000.00. Following the completion of the sale, the insider directly owned 6,668 shares in the company, valued at $5,334,400. This represents a 23.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 30,243 shares of company stock worth $24,421,877 in the last ninety days. 0.54% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CASY. Tema ETFs LLC acquired a new stake in Casey’s General Stores in the 2nd quarter valued at approximately $316,000. Redhawk Wealth Advisors Inc. acquired a new position in Casey’s General Stores during the 2nd quarter worth approximately $1,780,000. First Bank & Trust boosted its position in Casey’s General Stores by 6.0% during the 2nd quarter. First Bank & Trust now owns 1,476 shares of the company’s stock worth $1,173,000 after acquiring an additional 83 shares during the last quarter. Contravisory Investment Management Inc. grew its stake in shares of Casey’s General Stores by 2,431.2% during the 2nd quarter. Contravisory Investment Management Inc. now owns 1,215 shares of the company’s stock worth $966,000 after acquiring an additional 1,167 shares in the last quarter. Finally, Everhart Financial Group Inc. grew its stake in shares of Casey’s General Stores by 14.0% during the 2nd quarter. Everhart Financial Group Inc. now owns 366 shares of the company’s stock worth $291,000 after acquiring an additional 45 shares in the last quarter. 85.63% of the stock is currently owned by 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.