Casey’s General Stores, Inc. (NASDAQ:CASY) Given Average Recommendation of “Moderate Buy” by Analysts

Casey’s General Stores, Inc. (NASDAQ:CASY) has earned an average rating of “Moderate Buy” from the twenty ratings firms that are covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $939.2857.

A number of equities analysts recently issued reports on CASY shares. Stephens set a $975.00 price target on shares of Casey’s General Stores and gave the stock an “overweight” rating in a research note on Friday, June 12th. Zacks Research downgraded shares of Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. Jefferies Financial Group upped their price objective on shares of Casey’s General Stores from $700.00 to $780.00 and gave the stock a “buy” rating in a report on Tuesday, March 10th. Weiss Ratings restated a “buy (b)” rating on shares of Casey’s General Stores in a report on Wednesday, June 24th. Finally, Wolfe Research restated an “outperform” rating and issued a $1,069.00 price objective on shares of Casey’s General Stores in a report on Thursday, June 11th.

Insiders Place Their Bets

In other Casey’s General Stores news, Director Mike Spanos acquired 256 shares of the business’s stock in a transaction on Friday, June 26th. The shares were acquired at an average price of $778.81 per share, for a total transaction of $199,375.36. Following the completion of the acquisition, the director owned 4,758 shares in the company, valued at $3,705,577.98. This trade represents a 5.69% 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 hyperlink. Company insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Casey’s General Stores

Hedge funds and other institutional investors have recently bought and sold shares of the business. Foster Dykema Cabot & Partners LLC purchased a new stake in Casey’s General Stores in the third quarter worth about $25,000. Whipplewood Advisors LLC purchased a new stake in Casey’s General Stores in the first quarter worth about $33,000. True Wealth Design LLC grew its holdings in shares of Casey’s General Stores by 350.0% during the fourth quarter. True Wealth Design LLC now owns 54 shares of the company’s stock valued at $30,000 after buying an additional 42 shares during the last quarter. Central Pacific Bank Trust Division grew its holdings in shares of Casey’s General Stores by 52.8% during the fourth quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock valued at $30,000 after buying an additional 19 shares during the last quarter. Finally, RMG Wealth Management LLC grew its holdings in shares of Casey’s General Stores by 250.0% during the first quarter. RMG Wealth Management LLC now owns 56 shares of the company’s stock valued at $41,000 after buying an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Trending Headlines about Casey’s General Stores

Here are the key news stories impacting Casey’s General Stores this week:

• Positive Sentiment: Director Mike Spanos purchased 256 shares of Casey’s General Stores at $778.81 per share, a disclosure that can signal insider confidence in the company’s outlook. Insider Buying: Casey’s General Stores (NASDAQ:CASY) Director Purchases 256 Shares of Stock
• Positive Sentiment: BMO Capital Markets upgraded Casey’s General Stores to outperform and lifted its price target to $950, reinforcing the view that the stock still has upside from current levels. This Caseys Analyst Turns Bullish; Here Are Top 3 Upgrades For Monday
• Positive Sentiment: The company increased its quarterly dividend to $0.65 per share from $0.57, which may appeal to income-focused investors and suggests confidence in cash generation. Dividend Increases: From Over 10% Yields to Over 10% Dividend Growth
• Neutral Sentiment: Casey’s also got mentions in stock-picking and dividend-screening articles, which may add some attention but do not appear to be material catalysts on their own. Is Casey’s General Stores, Inc. (CASY) A Good Stock To Buy Now?
• Negative Sentiment: Some analysts remain cautious: Zacks Research downgraded the stock to hold, and RBC’s rating is only sector perform, which tempers the bullish case. Casey’s General Stores stock and analyst coverage

Casey’s General Stores Price Performance

CASY stock opened at $780.24 on Tuesday. Casey’s General Stores has a 1 year low of $490.00 and a 1 year high of $927.85. The company has a market cap of $28.87 billion, a P/E ratio of 40.72, a PEG ratio of 2.34 and a beta of 0.61. The firm has a 50-day moving average of $819.20 and a 200 day moving average of $706.89. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.31 by $1.06. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The company had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same period in the prior year, the firm earned $2.63 earnings per share. Casey’s General Stores’s revenue was up 14.5% on a year-over-year basis. On average, sell-side analysts forecast that Casey’s General Stores will post 21.05 EPS for the current year.

Casey’s General Stores Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Saturday, August 1st will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.3%. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, July 31st. Casey’s General Stores’s dividend payout ratio is currently 13.57%.

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.