Casey’s General Stores (NASDAQ:CASY) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Casey’s General Stores (NASDAQ:CASY) from a hold rating to a buy rating in a research note issued to investors on Saturday.

Several other research analysts have also recently weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Casey’s General Stores from $610.00 to $625.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. KeyCorp reaffirmed an “overweight” rating and issued a $700.00 target price on shares of Casey’s General Stores in a report on Thursday. Bank of America began coverage on Casey’s General Stores in a report on Friday, January 9th. They set a “buy” rating for the company. Northcoast Research cut Casey’s General Stores from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 21st. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $662.00 price objective on shares of Casey’s General Stores in a research note on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Casey’s General Stores currently has a consensus rating of “Moderate Buy” and an average target price of $615.50.

Casey’s General Stores Trading Up 0.3%

Shares of NASDAQ:CASY opened at $665.86 on Friday. The stock’s 50-day simple moving average is $599.17 and its two-hundred day simple moving average is $559.11. The stock has a market capitalization of $24.68 billion, a price-to-earnings ratio of 40.95, a PEG ratio of 2.35 and a beta of 0.68. Casey’s General Stores has a 52-week low of $372.08 and a 52-week high of $678.67. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.65 and a current ratio of 1.05.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Tuesday, December 9th. The company reported $5.53 earnings per share for the quarter, topping the consensus estimate of $4.92 by $0.61. The firm had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.51 billion. Casey’s General Stores had a net margin of 3.58% and a return on equity of 16.89%. The business’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.85 EPS. Analysts expect that Casey’s General Stores will post 13.94 EPS for the current year.

Casey’s General Stores Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Sunday, February 1st were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Friday, January 30th. This represents a $2.28 dividend on an annualized basis and a yield of 0.3%. Casey’s General Stores’s dividend payout ratio (DPR) is currently 14.02%.

Insider Buying and Selling at Casey’s General Stores

In other Casey’s General Stores news, Director Moats Maria Castanon acquired 300 shares of the company’s stock in a transaction dated Monday, January 5th. The stock was purchased at an average price of $554.66 per share, with a total value of $166,398.00. Following the completion of the purchase, the director directly owned 803 shares in the company, valued at approximately $445,391.98. The trade was a 59.64% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Casey’s General Stores

A number of institutional investors have recently added to or reduced their stakes in CASY. Foster Dykema Cabot & Partners LLC bought a new position in shares of Casey’s General Stores during the third quarter worth $25,000. Westside Investment Management Inc. lifted its stake in Casey’s General Stores by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 46 shares of the company’s stock worth $26,000 after purchasing an additional 23 shares in the last quarter. Central Pacific Bank Trust Division lifted its stake in Casey’s General Stores by 52.8% in the 4th quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock worth $30,000 after purchasing an additional 19 shares in the last quarter. True Wealth Design LLC boosted its holdings in shares of Casey’s General Stores by 350.0% during the 4th quarter. True Wealth Design LLC now owns 54 shares of the company’s stock valued at $30,000 after purchasing an additional 42 shares during the last quarter. Finally, Nvwm LLC purchased a new position in shares of Casey’s General Stores during the second quarter valued at about $32,000. 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 (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.