Brokerages Set Casey’s General Stores, Inc. (NASDAQ:CASY) Price Target at $698.20

Shares of Casey’s General Stores, Inc. (NASDAQ:CASY) have earned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the firm, Marketbeat reports. Six analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $698.20.

Several research analysts have weighed in on CASY shares. Weiss Ratings restated a “buy (b)” rating on shares of Casey’s General Stores in a research report on Monday, December 29th. Stephens reissued an “overweight” rating and set a $680.00 price target on shares of Casey’s General Stores in a research note on Tuesday, March 10th. Northcoast Research cut Casey’s General Stores from a “buy” rating to a “neutral” rating in a report on Wednesday, January 21st. Royal Bank Of Canada raised their price objective on Casey’s General Stores from $662.00 to $713.00 and gave the company a “sector perform” rating in a research note on Tuesday, March 10th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $700.00 price objective on shares of Casey’s General Stores in a report on Wednesday, March 4th.

Casey’s General Stores Trading Up 2.7%

Shares of CASY stock opened at $691.78 on Friday. The business’s fifty day moving average price is $648.49 and its 200 day moving average price is $583.47. The firm has a market capitalization of $25.57 billion, a PE ratio of 39.71, a P/E/G ratio of 2.22 and a beta of 0.65. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.04 and a quick ratio of 0.64. Casey’s General Stores has a 1-year low of $386.04 and a 1-year high of $696.66.

Casey’s General Stores (NASDAQ:CASY) last issued its earnings results on Monday, March 9th. The company reported $3.49 EPS for the quarter, topping the consensus estimate of $2.94 by $0.55. The company had revenue of $3.92 billion for the quarter, compared to analyst estimates of $4.08 billion. Casey’s General Stores had a net margin of 3.83% and a return on equity of 17.56%. The business’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.33 EPS. As a group, sell-side analysts forecast that Casey’s General Stores will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 1st will be given a $0.57 dividend. The ex-dividend date is Friday, May 1st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.3%. Casey’s General Stores’s dividend payout ratio (DPR) is currently 13.09%.

Insider Activity

In related news, insider Katrina S. Lindsey sold 200 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $683.04, for a total value of $136,608.00. Following the sale, the insider directly owned 4,039 shares in the company, valued at $2,758,798.56. The trade was a 4.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Moats Maria Castanon acquired 300 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was acquired at an average cost of $554.66 per share, for a total transaction of $166,398.00. Following the completion of the purchase, the director owned 803 shares in the company, valued at $445,391.98. The trade was a 59.64% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Casey’s General Stores

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CASY. Foster Dykema Cabot & Partners LLC acquired a new stake in shares of Casey’s General Stores in the third quarter valued at approximately $25,000. Westside Investment Management Inc. raised its position in shares of Casey’s General Stores by 100.0% during 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 during the last quarter. True Wealth Design LLC raised its position 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 worth $30,000 after purchasing an additional 42 shares during 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 valued at $30,000 after buying an additional 19 shares in the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new stake in Casey’s General Stores in the 3rd quarter valued at approximately $33,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

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.