Casey’s General Stores (NASDAQ:CASY) Price Target Increased to $440.00 by Analysts at Evercore ISI

Casey’s General Stores (NASDAQ:CASY) had its target price raised by Evercore ISI from $435.00 to $440.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

Other analysts have also recently issued reports about the stock. Northcoast Research upgraded shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $410.00 target price on the stock in a research report on Thursday, July 11th. Wells Fargo & Company upped their price objective on Casey’s General Stores from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Royal Bank of Canada lifted their target price on Casey’s General Stores from $393.00 to $403.00 and gave the stock a “sector perform” rating in a report on Thursday, September 5th. Benchmark restated a “buy” rating and set a $410.00 price target on shares of Casey’s General Stores in a report on Tuesday, September 10th. Finally, StockNews.com lowered shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $408.09.

Casey’s General Stores Stock Performance

NASDAQ CASY opened at $389.72 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.84 and a quick ratio of 0.44. Casey’s General Stores has a 1-year low of $260.13 and a 1-year high of $401.07. The business has a 50 day simple moving average of $374.09 and a two-hundred day simple moving average of $356.47. The stock has a market capitalization of $14.46 billion, a PE ratio of 29.02 and a beta of 0.80.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share for the quarter, beating analysts’ consensus estimates of $4.54 by $0.29. The firm had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.15 billion. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. Casey’s General Stores’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period last year, the firm posted $4.52 earnings per share. On average, research analysts predict that Casey’s General Stores will post 14.01 EPS for the current fiscal year.

Casey’s General Stores Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date is Friday, November 1st. Casey’s General Stores’s dividend payout ratio is currently 14.89%.

Insider Transactions at Casey’s General Stores

In related news, Director Mike Spanos acquired 267 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was bought at an average price of $376.18 per share, for a total transaction of $100,440.06. Following the acquisition, the director now directly owns 2,594 shares of the company’s stock, valued at $975,810.92. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Mike Spanos acquired 267 shares of Casey’s General Stores stock in a transaction on Wednesday, September 18th. The shares were bought at an average cost of $376.18 per share, for a total transaction of $100,440.06. Following the acquisition, the director now directly owns 2,594 shares of the company’s stock, valued at $975,810.92. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Thomas P. Brennan, Jr. sold 3,000 shares of Casey’s General Stores stock in a transaction on Friday, September 6th. The shares were sold at an average price of $380.24, for a total value of $1,140,720.00. Following the sale, the insider now directly owns 9,044 shares of the company’s stock, valued at approximately $3,438,890.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Casey’s General Stores

Several hedge funds have recently modified their holdings of the business. Congress Asset Management Co. MA purchased a new stake in Casey’s General Stores during the first quarter worth $112,081,000. Susquehanna Fundamental Investments LLC bought a new stake in Casey’s General Stores during the first quarter valued at about $794,000. Rheos Capital Works Inc. bought a new stake in Casey’s General Stores during the first quarter valued at about $15,604,000. Nordea Investment Management AB grew its stake in Casey’s General Stores by 2.0% in the first quarter. Nordea Investment Management AB now owns 21,919 shares of the company’s stock valued at $6,976,000 after purchasing an additional 437 shares during the last quarter. Finally, Bailard Inc. bought a new position in Casey’s General Stores in the second quarter worth about $1,021,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.

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.