Casey’s General Stores (NASDAQ:CASY) Price Target Raised to $550.00

Casey’s General Stores (NASDAQ:CASY) had its target price lifted by KeyCorp from $500.00 to $550.00 in a report released on Wednesday morning,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Several other analysts also recently commented on CASY. Evercore ISI raised their price objective on shares of Casey’s General Stores from $450.00 to $460.00 and gave the company an “outperform” rating in a research report on Tuesday, April 1st. Wall Street Zen downgraded shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Stephens reiterated an “overweight” rating and issued a $490.00 price target on shares of Casey’s General Stores in a report on Tuesday. Wells Fargo & Company lifted their price target on shares of Casey’s General Stores from $460.00 to $540.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Royal Bank of Canada set a $438.00 price target on shares of Casey’s General Stores and gave the company a “sector perform” rating in a report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $453.00.

Casey’s General Stores Stock Down 0.2%

Shares of CASY stock opened at $506.16 on Wednesday. The company has a market capitalization of $18.79 billion, a price-to-earnings ratio of 35.27, a PEG ratio of 2.40 and a beta of 0.65. Casey’s General Stores has a one year low of $350.52 and a one year high of $512.88. The company’s fifty day moving average price is $453.67 and its 200-day moving average price is $426.36. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.49.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Monday, June 9th. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $1.94 by $0.69. The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.95 billion. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The company’s revenue was up 10.9% on a year-over-year basis. During the same period last year, the firm earned $2.34 EPS. Sell-side analysts expect that Casey’s General Stores will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be paid a $0.57 dividend. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.50. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Friday, August 1st. Casey’s General Stores’s dividend payout ratio (DPR) is presently 13.94%.

Insiders Place Their Bets

In other Casey’s General Stores news, insider Katrina S. Lindsey sold 250 shares of Casey’s General Stores stock in a transaction on Friday, April 4th. The shares were sold at an average price of $437.01, for a total value of $109,252.50. Following the completion of the transaction, the insider now directly owns 2,443 shares of the company’s stock, valued at $1,067,615.43. This trade represents a 9.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Allison M. Wing sold 1,000 shares of Casey’s General Stores stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $502.16, for a total transaction of $502,160.00. Following the completion of the transaction, the director now directly owns 3,058 shares of the company’s stock, valued at $1,535,605.28. The trade was a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.56% of the company’s stock.

Hedge Funds Weigh In On Casey’s General Stores

Institutional investors and hedge funds have recently made changes to their positions in the business. Versant Capital Management Inc purchased a new position in shares of Casey’s General Stores in the 1st quarter worth $25,000. Global Financial Private Client LLC grew its stake in shares of Casey’s General Stores by 325.0% in the 1st quarter. Global Financial Private Client LLC now owns 68 shares of the company’s stock worth $30,000 after buying an additional 52 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of Casey’s General Stores during the 1st quarter worth about $32,000. Iron Horse Wealth Management LLC boosted its stake in shares of Casey’s General Stores by 40.0% during the 1st quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company’s stock worth $40,000 after purchasing an additional 26 shares during the period. Finally, WPG Advisers LLC purchased a new position in shares of Casey’s General Stores during the 1st quarter worth about $47,000. 85.63% of the stock is owned by hedge funds and other institutional investors.

Casey’s General Stores Company Profile

Casey’s General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.