Casey’s General Stores (CASY) Now Covered by Goldman Sachs

Goldman Sachs began coverage on shares of Casey’s General Stores (NASDAQ:CASY) in a report published on Thursday morning, MarketBeat.com reports. The brokerage issued a neutral rating and a $106.00 price target on the stock.

CASY has been the topic of a number of other research reports. BidaskClub raised Casey’s General Stores from a buy rating to a strong-buy rating in a research note on Saturday, January 6th. 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 research note on Tuesday, February 20th. Stephens set a $150.00 price target on Casey’s General Stores and gave the stock a buy rating in a research note on Friday, January 12th. Royal Bank of Canada reissued a sector perform rating and set a $118.00 price target (up previously from $112.00) on shares of Casey’s General Stores in a research note on Thursday, March 8th. Finally, Wells Fargo restated a market perform rating and set a $116.00 price objective (down from $118.00) on shares of Casey’s General Stores in a report on Thursday, March 8th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $122.91.

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Shares of Casey’s General Stores stock opened at $107.18 on Thursday. Casey’s General Stores has a fifty-two week low of $99.76 and a fifty-two week high of $128.51. The firm has a market cap of $4,023.12, a price-to-earnings ratio of 26.93, a price-to-earnings-growth ratio of 2.10 and a beta of 0.59. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.48 and a current ratio of 1.03.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Wednesday, March 7th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.14). Casey’s General Stores had a return on equity of 12.70% and a net margin of 4.03%. The business had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same period in the prior year, the company earned $0.58 EPS. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. analysts expect that Casey’s General Stores will post 4.07 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Tuesday, May 1st will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, April 30th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.97%. Casey’s General Stores’s payout ratio is 23.21%.

Casey’s General Stores announced that its board has approved a share repurchase program on Wednesday, March 7th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

In related news, VP William J. Walljasper sold 1,000 shares of the stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $108.85, for a total value of $108,850.00. Following the completion of the sale, the vice president now directly owns 21,452 shares in the company, valued at approximately $2,335,050.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Cara Kay Heiden purchased 4,000 shares of the stock in a transaction that occurred on Thursday, March 8th. The stock was bought at an average price 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 in the company, valued at approximately $553,570.11. The disclosure for this purchase can be found here. Corporate insiders own 1.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in CASY. Ameriprise Financial Inc. increased its holdings in Casey’s General Stores by 3.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 170,909 shares of the company’s stock valued at $18,706,000 after purchasing an additional 6,070 shares in the last quarter. Nordea Investment Management AB increased its holdings in Casey’s General Stores by 17.0% in the 3rd quarter. Nordea Investment Management AB now owns 19,781 shares of the company’s stock valued at $2,165,000 after purchasing an additional 2,868 shares in the last quarter. Legal & General Group Plc increased its holdings in Casey’s General Stores by 14.3% in the 3rd quarter. Legal & General Group Plc now owns 53,791 shares of the company’s stock valued at $5,887,000 after purchasing an additional 6,710 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Casey’s General Stores by 2.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 581,000 shares of the company’s stock valued at $64,073,000 after purchasing an additional 16,512 shares in the last quarter. Finally, Trexquant Investment LP acquired a new stake in Casey’s General Stores in the 3rd quarter valued at $267,000. Hedge funds and other institutional investors own 98.03% of the company’s stock.

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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.

Analyst Recommendations for Casey`s General Stores (NASDAQ:CASY)

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