Jefferies Group LLC Reiterates “Buy” Rating for Caseys General Stores, Inc. (CASY)

Caseys General Stores, Inc. (NASDAQ:CASY)‘s stock had its “buy” rating reissued by analysts at Jefferies Group LLC in a note issued to investors on Tuesday. They presently have a $139.00 target price on the stock. Jefferies Group LLC’s price target points to a potential upside of 28.67% from the stock’s current price.

Several other research firms also recently weighed in on CASY. Goldman Sachs Group, Inc. (The) initiated coverage on Caseys General Stores in a research report on Thursday, April 27th. They issued a “neutral” rating and a $109.00 target price for the company. Deutsche Bank AG set a $120.00 target price on Caseys General Stores and gave the company a “buy” rating in a research report on Tuesday, June 6th. Zacks Investment Research raised Caseys General Stores from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 16th. BMO Capital Markets set a $110.00 target price on Caseys General Stores and gave the company a “market perform” rating in a research report on Wednesday, June 7th. Finally, Royal Bank Of Canada dropped their target price on Caseys General Stores from $121.00 to $118.00 and set a “sector perform” rating for the company in a research report on Tuesday, June 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $120.50.

Analyst Recommendations for Caseys General Stores (NASDAQ:CASY)

Caseys General Stores (NASDAQ:CASY) traded down 1.02% on Tuesday, hitting $106.93. 219,489 shares of the stock were exchanged. The firm has a market cap of $4.17 billion, a PE ratio of 23.87 and a beta of 0.48. Caseys General Stores has a 52-week low of $105.50 and a 52-week high of $136.22. The stock’s 50 day moving average price is $112.61 and its 200 day moving average price is $114.89.

Caseys General Stores (NASDAQ:CASY) last released its earnings results on Monday, June 5th. The company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.85 by $0.09. The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.88 billion. Caseys General Stores had a net margin of 2.36% and a return on equity of 14.93%. The business’s revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.19 earnings per share. Equities research analysts forecast that Caseys General Stores will post $4.57 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st will be given a dividend of $0.26 per share. The ex-dividend date is Friday, July 28th. This is an increase from Caseys General Stores’s previous quarterly dividend of $0.24. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.96%. Caseys General Stores’s payout ratio is currently 21.43%.

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Several institutional investors have recently made changes to their positions in CASY. Vanguard Group Inc. increased its position in shares of Caseys General Stores by 5.7% in the first quarter. Vanguard Group Inc. now owns 3,440,957 shares of the company’s stock worth $386,247,000 after buying an additional 186,873 shares in the last quarter. BlackRock Inc. increased its position in shares of Caseys General Stores by 14,288.2% in the first quarter. BlackRock Inc. now owns 3,093,329 shares of the company’s stock worth $347,227,000 after buying an additional 3,071,830 shares in the last quarter. Vontobel Asset Management Inc. increased its position in shares of Caseys General Stores by 25.4% in the first quarter. Vontobel Asset Management Inc. now owns 1,498,546 shares of the company’s stock worth $173,215,000 after buying an additional 303,068 shares in the last quarter. Iridian Asset Management LLC CT increased its position in shares of Caseys General Stores by 0.7% in the first quarter. Iridian Asset Management LLC CT now owns 1,422,100 shares of the company’s stock worth $159,631,000 after buying an additional 9,850 shares in the last quarter. Finally, Clearbridge Investments LLC increased its position in shares of Caseys General Stores by 23.6% in the first quarter. Clearbridge Investments LLC now owns 1,373,665 shares of the company’s stock worth $154,194,000 after buying an additional 262,360 shares in the last quarter. 96.76% of the stock is owned by institutional investors and hedge funds.

About Caseys General Stores

Casey’s General Stores, Inc and its subsidiaries, operate convenience stores under the name Casey’s General Store in approximately 10 Midwestern states, in Iowa, Missouri, and Illinois. The Company also operates approximately two stores selling primarily tobacco products. The stores carry a range of food, including freshly prepared foods such as pizza, donuts, and sandwiches, beverages, tobacco products, health and beauty aids, automotive products and other nonfood items.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:CASY”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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