Other equities analysts have also issued research reports about the company. BidaskClub lowered Casey's General Stores from a strong-buy rating to a buy rating in a research note on Wednesday, January 24th. Zacks Investment Research upgraded Casey's General Stores from a hold rating to a buy rating and set a $131.00 price target on the stock in a research note on Tuesday, February 20th. Gabelli initiated coverage on Casey's General Stores in a research note on Friday, February 16th. They issued a buy rating and a $162.00 price target on the stock. Jefferies Group reiterated a buy rating and issued a $136.00 price target on shares of Casey's General Stores in a research note on Thursday, March 8th. Finally, BMO Capital Markets set a $122.00 price target on Casey's General Stores and gave the company a hold rating in a research note on Wednesday, January 24th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $123.18.
CASY stock opened at $107.27 on Wednesday. Casey's General Stores has a 52 week low of $99.76 and a 52 week high of $128.51. The company has a quick ratio of 0.48, a current ratio of 1.03 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $4,110.58, a price-to-earnings ratio of 12.50, a PEG ratio of 2.14 and a beta of 0.58.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Tuesday, May 1st will be given a dividend of $0.26 per share. The ex-dividend date is Monday, April 30th. This represents a $1.04 dividend on an annualized basis and a yield of 0.97%. Casey's General Stores’s dividend payout ratio is currently 12.12%.
Casey's General Stores announced that its Board of Directors has authorized a share repurchase program on Wednesday, March 7th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
In related news, insider Terry W. Handley sold 1,342 shares of the business’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $110.65, for a total transaction of $148,492.30. Following the sale, the insider now owns 29,331 shares in the company, valued at approximately $3,245,475.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David K. Lenhardt acquired 2,300 shares of Casey's General Stores stock in a transaction that occurred on Tuesday, March 13th. The shares were purchased at an average price of $111.24 per share, for a total transaction of $255,852.00. Following the transaction, the director now directly owns 2,300 shares in the company, valued at $255,852. The disclosure for this purchase can be found here. Insiders own 1.30% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. lifted its holdings in Casey's General Stores by 390.4% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 16,281 shares of the company’s stock worth $1,822,000 after buying an additional 12,961 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Casey's General Stores by 17.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 17,000 shares of the company’s stock worth $1,903,000 after buying an additional 2,487 shares during the period. WealthPLAN Partners LLC lifted its holdings in Casey's General Stores by 316.1% during the 4th quarter. WealthPLAN Partners LLC now owns 12,001 shares of the company’s stock worth $1,343,000 after buying an additional 9,117 shares during the period. MetLife Investment Advisors LLC acquired a new position in Casey's General Stores during the 4th quarter worth about $2,708,000. Finally, Jump Trading LLC acquired a new position in Casey's General Stores during the 4th quarter worth about $386,000. 98.01% of the stock is currently owned by hedge funds and other 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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