Royal Bank of Canada reissued their sector perform rating on shares of Casey's General Stores (NASDAQ:CASY) in a report issued on Thursday morning, MarketBeat Ratings reports. Royal Bank of Canada currently has a $118.00 price objective on the stock, up from their prior price objective of $112.00.
CASY has been the topic of a number of other reports. BidaskClub raised Casey's General Stores from a buy rating to a strong-buy rating in a report on Saturday, January 6th. BMO Capital Markets set a $122.00 price target on Casey's General Stores and gave the company a hold rating in a report on Wednesday. Wells Fargo & Co raised their price target on Casey's General Stores from $105.00 to $118.00 and gave the company a market perform rating in a report on Thursday, January 4th. Raymond James Financial cut Casey's General Stores from an outperform rating to a mkt perform rating in a report on Tuesday, December 12th. Finally, Zacks Investment Research raised Casey's General Stores from a hold rating to a buy rating and set a $131.00 price target on the stock in a report on Tuesday, February 20th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Casey's General Stores has a consensus rating of Hold and an average price target of $123.18.
Casey's General Stores (NASDAQ:CASY) traded up $1.72 during trading hours on Thursday, reaching $110.80. The company’s stock had a trading volume of 531,463 shares, compared to its average volume of 434,533. The company has a current ratio of 1.03, a quick ratio of 0.72 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $4,158.99, a PE ratio of 12.91, a PEG ratio of 2.10 and a beta of 0.58. Casey's General Stores has a twelve month low of $99.76 and a twelve month high of $128.51.
Casey's General Stores announced that its Board of Directors has initiated a stock buyback program on Wednesday, March 7th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Tuesday, May 1st will be issued a $0.26 dividend. The ex-dividend date of this dividend is Monday, April 30th. This represents a $1.04 annualized dividend and a dividend yield of 0.94%. Casey's General Stores’s dividend payout ratio (DPR) is 12.12%.
In other news, Director Cara Kay Heiden bought 4,000 shares of Casey's General Stores stock in a transaction dated Thursday, March 8th. The shares were purchased at an average cost of $109.77 per share, with a total value of $439,080.00. Following the completion of the acquisition, the director now owns 5,043 shares of the company’s stock, valued at approximately $553,570.11. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its stake in Casey's General Stores by 1.7% during the fourth quarter. BlackRock Inc. now owns 3,040,565 shares of the company’s stock worth $340,360,000 after acquiring an additional 52,272 shares during the last quarter. Janus Henderson Group PLC increased its stake in Casey's General Stores by 20.4% during the third quarter. Janus Henderson Group PLC now owns 1,825,662 shares of the company’s stock worth $199,819,000 after acquiring an additional 309,263 shares during the last quarter. Clearbridge Investments LLC increased its stake in Casey's General Stores by 0.4% during the fourth quarter. Clearbridge Investments LLC now owns 1,447,933 shares of the company’s stock worth $162,082,000 after acquiring an additional 6,128 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its stake in Casey's General Stores by 5.0% during the third quarter. Thompson Siegel & Walmsley LLC now owns 1,331,457 shares of the company’s stock worth $145,728,000 after acquiring an additional 63,323 shares during the last quarter. Finally, Eagle Asset Management Inc. increased its stake in Casey's General Stores by 3.9% during the third quarter. Eagle Asset Management Inc. now owns 630,978 shares of the company’s stock worth $68,297,000 after acquiring an additional 23,486 shares during the last quarter. 97.33% of the stock is currently owned by institutional investors.
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Casey's General Stores Company Profile
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.
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