Evercore ISI Lowers Casey’s General Stores (NASDAQ:CASY) Price Target to $345.00

Casey’s General Stores (NASDAQ:CASY) had its price objective trimmed by Evercore ISI from $350.00 to $345.00 in a research report report published on Tuesday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

CASY has been the topic of several other reports. BMO Capital Markets increased their target price on shares of Casey’s General Stores from $290.00 to $305.00 and gave the stock a market perform rating in a report on Wednesday, March 13th. Benchmark reiterated a buy rating and set a $312.00 target price on shares of Casey’s General Stores in a report on Wednesday, March 6th. Wells Fargo & Company increased their target price on shares of Casey’s General Stores from $305.00 to $340.00 and gave the stock an overweight rating in a report on Tuesday, March 5th. Finally, StockNews.com cut shares of Casey’s General Stores from a strong-buy rating to a buy rating in a report on Thursday, March 21st. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $312.63.

Casey’s General Stores Stock Performance

Shares of Casey’s General Stores stock opened at $310.41 on Tuesday. The firm has a market cap of $11.49 billion, a P/E ratio of 24.67, a P/E/G ratio of 2.48 and a beta of 0.83. The company has a current ratio of 0.89, a quick ratio of 0.42 and a debt-to-equity ratio of 0.54. Casey’s General Stores has a 12 month low of $212.50 and a 12 month high of $324.40. The stock’s fifty day moving average price is $304.85 and its 200-day moving average price is $286.05.

Casey’s General Stores (NASDAQ:CASY) last issued its earnings results on Tuesday, March 12th. The company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.13. Casey’s General Stores had a net margin of 3.23% and a return on equity of 16.70%. The company had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.51 billion. During the same period in the prior year, the business earned $2.36 EPS. The firm’s quarterly revenue was down .1% on a year-over-year basis. On average, equities research analysts expect that Casey’s General Stores will post 12.81 earnings per share for the current fiscal year.

Casey’s General Stores Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Tuesday, April 30th. Casey’s General Stores’s dividend payout ratio is currently 13.67%.

Hedge Funds Weigh In On Casey’s General Stores

Hedge funds and other institutional investors have recently modified their holdings of the stock. Money Concepts Capital Corp raised its position in shares of Casey’s General Stores by 62.7% in the 4th quarter. Money Concepts Capital Corp now owns 122 shares of the company’s stock valued at $27,000 after purchasing an additional 47 shares during the last quarter. Point72 Europe London LLP purchased a new position in shares of Casey’s General Stores in the 4th quarter valued at approximately $27,000. BKM Wealth Management LLC purchased a new position in shares of Casey’s General Stores in the 4th quarter valued at approximately $29,000. Rise Advisors LLC purchased a new position in shares of Casey’s General Stores in the 1st quarter valued at approximately $30,000. Finally, Fortis Capital Advisors LLC purchased a new position in shares of Casey’s General Stores in the 1st quarter valued at approximately $31,000. 85.63% of the stock is owned by hedge funds and other institutional investors.

About Casey’s General Stores

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.