Casey’s General Stores (NASDAQ:CASY) Price Target Raised to $540.00

Casey’s General Stores (NASDAQ:CASY) had its price objective hoisted by BMO Capital Markets from $515.00 to $540.00 in a research note issued to investors on Wednesday morning, Marketbeat.com reports. BMO Capital Markets currently has a market perform rating on the stock.

Several other analysts have also commented on the company. The Goldman Sachs Group lifted their price objective on Casey’s General Stores from $385.00 to $450.00 and gave the stock a “neutral” rating in a report on Wednesday, June 11th. Evercore ISI boosted their price target on Casey’s General Stores from $560.00 to $580.00 and gave the company an “outperform” rating in a report on Wednesday. Wall Street Zen raised Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Saturday, June 14th. Stephens reissued an “overweight” rating and set a $530.00 price target on shares of Casey’s General Stores in a report on Tuesday. Finally, Wells Fargo & Company boosted their price target on Casey’s General Stores from $540.00 to $580.00 and gave the company an “overweight” rating in a report on Monday. Eight equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Casey’s General Stores presently has a consensus rating of “Moderate Buy” and a consensus target price of $505.25.

Casey’s General Stores Stock Down 0.0%

Casey’s General Stores stock opened at $553.89 on Wednesday. The firm has a market cap of $20.59 billion, a price-to-earnings ratio of 35.55 and a beta of 0.66. The stock has a fifty day simple moving average of $516.25 and a two-hundred day simple moving average of $472.05. Casey’s General Stores has a 12 month low of $362.42 and a 12 month high of $559.37. The company has a current ratio of 1.03, a quick ratio of 0.48 and a debt-to-equity ratio of 0.65.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Monday, September 8th. The company reported $5.77 EPS for the quarter, topping analysts’ consensus estimates of $5.02 by $0.75. The business had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.47 billion. Casey’s General Stores had a return on equity of 16.73% and a net margin of 3.54%.The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the company earned $4.83 EPS. Equities analysts predict that Casey’s General Stores will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Saturday, November 1st will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Friday, October 31st. Casey’s General Stores’s payout ratio is currently 14.63%.

Insider Buying and Selling at Casey’s General Stores

In other Casey’s General Stores news, CFO Stephen P. Bramlage, Jr. sold 760 shares of the company’s stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $507.56, for a total transaction of $385,745.60. Following the sale, the chief financial officer directly owned 25,994 shares in the company, valued at $13,193,514.64. This represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Mike Spanos acquired 200 shares of the firm’s stock in a transaction on Monday, June 30th. The shares were bought at an average price of $503.18 per share, for a total transaction of $100,636.00. Following the completion of the transaction, the director owned 3,560 shares of the company’s stock, valued at approximately $1,791,320.80. This trade represents a 5.95% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 42,646 shares of company stock valued at $21,634,454. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of Casey’s General Stores

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Samlyn Capital LLC boosted its position in Casey’s General Stores by 42.8% during the 1st quarter. Samlyn Capital LLC now owns 255,659 shares of the company’s stock valued at $110,966,000 after acquiring an additional 76,673 shares in the last quarter. Security National Bank boosted its position in Casey’s General Stores by 9.7% during the 1st quarter. Security National Bank now owns 5,674 shares of the company’s stock valued at $2,463,000 after acquiring an additional 504 shares in the last quarter. Cornerstone Wealth Management LLC bought a new stake in Casey’s General Stores during the 1st quarter valued at $201,000. M&T Bank Corp boosted its position in Casey’s General Stores by 39.6% during the 1st quarter. M&T Bank Corp now owns 2,515 shares of the company’s stock valued at $1,092,000 after acquiring an additional 713 shares in the last quarter. Finally, Ground Swell Capital LLC bought a new stake in Casey’s General Stores during the 1st quarter valued at $338,000. Institutional investors own 85.63% of the company’s stock.

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.