Casey’s General Stores (NASDAQ:CASY) Stock Price Up 2.7% on Analyst Upgrade

Casey’s General Stores Inc (NASDAQ:CASY)’s share price rose 2.7% on Wednesday after Barclays raised their price target on the stock from $123.00 to $140.00. Barclays currently has an equal weight rating on the stock. Casey’s General Stores traded as high as $149.48 and last traded at $150.40. Approximately 24,976 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 324,755 shares. The stock had previously closed at $146.39.

A number of other equities analysts also recently weighed in on the stock. JPMorgan Chase & Co. initiated coverage on shares of Casey’s General Stores in a research note on Thursday, April 25th. They issued a “neutral” rating and a $140.00 target price for the company. BidaskClub raised shares of Casey’s General Stores from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. Gabelli reissued a “buy” rating on shares of Casey’s General Stores in a research note on Wednesday, March 13th. Sidoti set a $138.00 price target on shares of Casey’s General Stores and gave the stock a “hold” rating in a research note on Friday, February 15th. Finally, Zacks Investment Research raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating and set a $148.00 price target for the company in a research note on Tuesday, April 23rd. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Casey’s General Stores currently has an average rating of “Hold” and a consensus target price of $144.40.

In other Casey’s General Stores news, SVP Julia L. Jackowski sold 12,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $125.95, for a total value of $1,574,375.00. Following the completion of the sale, the senior vice president now owns 32,944 shares of the company’s stock, valued at $4,149,296.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP William J. Walljasper sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $126.05, for a total transaction of $378,150.00. Following the completion of the sale, the vice president now directly owns 24,785 shares of the company’s stock, valued at approximately $3,124,149.25. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

A number of large investors have recently modified their holdings of CASY. Enlightenment Research LLC bought a new stake in Casey’s General Stores in the fourth quarter valued at approximately $26,000. Mckinley Capital Management LLC Delaware bought a new stake in Casey’s General Stores in the fourth quarter valued at approximately $29,000. FinTrust Capital Advisors LLC bought a new stake in Casey’s General Stores in the first quarter valued at approximately $29,000. Rockefeller Capital Management L.P. bought a new stake in Casey’s General Stores in the first quarter valued at approximately $32,000. Finally, Valeo Financial Advisors LLC increased its stake in Casey’s General Stores by 2,500.0% in the first quarter. Valeo Financial Advisors LLC now owns 312 shares of the company’s stock valued at $40,000 after purchasing an additional 300 shares in the last quarter. 90.23% of the stock is owned by hedge funds and other institutional investors.

The company has a current ratio of 0.76, a quick ratio of 0.22 and a debt-to-equity ratio of 0.93. The company has a market cap of $5.36 billion, a P/E ratio of 39.34, a P/E/G ratio of 2.45 and a beta of 0.45.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Monday, June 10th. The company reported $0.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.27. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Casey’s General Stores had a net margin of 2.14% and a return on equity of 14.89%. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.51 earnings per share. As a group, equities analysts predict that Casey’s General Stores Inc will post 5.2 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Wednesday, July 31st. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.29. Casey’s General Stores’s dividend payout ratio is 30.45%.

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About Casey’s General Stores (NASDAQ:CASY)

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. The company's stores offer a selection of food, including freshly prepared foods, such as pizza, donuts, and sandwiches; beverage and tobacco products; health and beauty aids; automotive products; school supplies, housewares, and pet supplies; and other nonfood items.

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