Casey’s General Stores, Inc. (NASDAQ:CASY) Receives $940.00 Consensus PT from Analysts

Casey’s General Stores, Inc. (NASDAQ:CASY) has earned a consensus rating of “Moderate Buy” from the twenty analysts that are presently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $940.00.

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Casey’s General Stores from $719.00 to $975.00 and gave the stock a “neutral” rating in a report on Friday, June 12th. Evercore reissued an “outperform” rating and issued a $990.00 price objective on shares of Casey’s General Stores in a research note on Friday, June 12th. KeyCorp upped their target price on shares of Casey’s General Stores from $950.00 to $970.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. Stephens set a $975.00 price target on Casey’s General Stores and gave the company an “overweight” rating in a report on Friday, June 12th. Finally, BMO Capital Markets raised shares of Casey’s General Stores from a “market perform” rating to an “outperform” rating and set a $950.00 price objective on the stock in a research note on Monday, June 29th.

Insider Activity

In related news, insider Chad Michael Frazell sold 3,013 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $787.49, for a total transaction of $2,372,707.37. Following the completion of the transaction, the insider directly owned 9,823 shares in the company, valued at approximately $7,735,514.27. This trade represents a 23.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the business’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $838.16, for a total transaction of $4,777,512.00. Following the completion of the sale, the chief financial officer directly owned 29,677 shares in the company, valued at approximately $24,874,074.32. This represents a 16.11% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 30,243 shares of company stock worth $24,421,877. 0.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Casey’s General Stores

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Central Pacific Bank Trust Division increased its position in Casey’s General Stores by 52.8% during the fourth quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock worth $30,000 after buying an additional 19 shares during the last quarter. True Wealth Design LLC grew its holdings in Casey’s General Stores by 350.0% in the 4th quarter. True Wealth Design LLC now owns 54 shares of the company’s stock valued at $30,000 after buying an additional 42 shares in the last quarter. Whipplewood Advisors LLC acquired a new stake in shares of Casey’s General Stores during the first quarter worth $33,000. ORG Partners LLC boosted its holdings in Casey’s General Stores by 47.6% in the 4th quarter. ORG Partners LLC now owns 62 shares of the company’s stock valued at $34,000 after purchasing an additional 20 shares during the period. Finally, Larson Financial Group LLC boosted its stake in shares of Casey’s General Stores by 252.4% in the fourth quarter. Larson Financial Group LLC now owns 74 shares of the company’s stock valued at $41,000 after buying an additional 53 shares during the period. 85.63% of the stock is owned by institutional investors.

Casey’s General Stores Trading Down 0.2%

Casey’s General Stores stock opened at $856.74 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60. The company has a market capitalization of $31.71 billion, a price-to-earnings ratio of 44.72, a PEG ratio of 2.57 and a beta of 0.62. The company’s fifty day moving average price is $821.53 and its two-hundred day moving average price is $739.25. Casey’s General Stores has a one year low of $490.00 and a one year high of $927.85.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $3.31 by $1.06. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The firm had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same quarter in the previous year, the business earned $2.63 EPS. The business’s revenue was up 14.5% on a year-over-year basis. On average, analysts forecast that Casey’s General Stores will post 21.14 earnings per share 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 14th. Investors of record on Saturday, August 1st will be given a $0.65 dividend. The ex-dividend date is Friday, July 31st. This represents a $2.60 annualized dividend and a dividend yield of 0.3%. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.57. Casey’s General Stores’s payout ratio is presently 11.90%.

About Casey’s General Stores

Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.