Casey’s General Stores Inc (NASDAQ:CASY) announced a quarterly dividend on Monday, September 9th, Zacks reports. Stockholders of record on Friday, November 1st will be paid a dividend of 0.32 per share on Friday, November 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Thursday, October 31st.
Casey’s General Stores has increased its dividend by an average of 9.4% annually over the last three years and has increased its dividend every year for the last 16 years. Casey’s General Stores has a dividend payout ratio of 27.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Casey’s General Stores to earn $6.27 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 20.4%.
CASY traded down $3.38 on Wednesday, hitting $166.58. 566,820 shares of the company traded hands, compared to its average volume of 338,597. Casey’s General Stores has a 12-month low of $116.23 and a 12-month high of $173.31. The company has a quick ratio of 0.23, a current ratio of 0.69 and a debt-to-equity ratio of 0.91. The company has a 50 day moving average of $167.00 and a 200-day moving average of $145.54. The stock has a market capitalization of $6.15 billion, a PE ratio of 30.23, a PEG ratio of 3.20 and a beta of 0.55.
In related news, Director H Lynn Horak sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $154.55, for a total value of $463,650.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Brian Joseph Johnson sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $156.48, for a total transaction of $625,920.00. Following the completion of the sale, the senior vice president now owns 14,817 shares of the company’s stock, valued at $2,318,564.16. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.
CASY has been the topic of several analyst reports. Gabelli downgraded shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Barclays boosted their price target on shares of Casey’s General Stores from $140.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Wells Fargo & Co reissued a “market perform” rating and set a $165.00 price target (up from $145.00) on shares of Casey’s General Stores in a report on Wednesday. G.Research lowered Casey’s General Stores from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, Zacks Investment Research cut Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $170.30.
Casey’s General Stores Company Profile
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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