Caseys General Stores, Inc. (CASY) Given Average Recommendation of “Hold” by Brokerages
Caseys General Stores, Inc. (NASDAQ:CASY) has been given a consensus recommendation of “Hold” by the thirteen ratings firms that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $115.29.
A number of research firms recently weighed in on CASY. Zacks Investment Research downgraded Caseys General Stores from a “hold” rating to a “sell” rating in a report on Tuesday. Jefferies Group LLC restated a “buy” rating and issued a $134.00 price objective (down from $139.00) on shares of Caseys General Stores in a report on Thursday, August 31st. Royal Bank of Canada set a $116.00 price objective on Caseys General Stores and gave the company a “hold” rating in a report on Monday, August 28th. Finally, BidaskClub downgraded Caseys General Stores from a “hold” rating to a “sell” rating in a report on Thursday, August 17th.
In other Caseys General Stores news, SVP Brian Joseph Johnson sold 1,000 shares of the stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $108.01, for a total transaction of $108,010.00. Following the completion of the sale, the senior vice president now directly owns 8,229 shares in the company, valued at approximately $888,814.29. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.30% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. Trexquant Investment LP acquired a new stake in Caseys General Stores during the 3rd quarter worth about $267,000. JPMorgan Chase & Co. grew its holdings in Caseys General Stores by 2.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 581,000 shares of the company’s stock worth $64,073,000 after acquiring an additional 16,512 shares during the period. Virginia Retirement Systems ET AL grew its holdings in Caseys General Stores by 60.2% during the 3rd quarter. Virginia Retirement Systems ET AL now owns 16,500 shares of the company’s stock worth $1,806,000 after acquiring an additional 6,200 shares during the period. Legal & General Group Plc grew its holdings in Caseys General Stores by 14.3% during the 3rd quarter. Legal & General Group Plc now owns 53,791 shares of the company’s stock worth $5,887,000 after acquiring an additional 6,710 shares during the period. Finally, Eagle Asset Management Inc. grew its holdings in Caseys General Stores by 3.9% during the 3rd quarter. Eagle Asset Management Inc. now owns 630,978 shares of the company’s stock worth $68,297,000 after acquiring an additional 23,486 shares during the period. Hedge funds and other institutional investors own 99.97% of the company’s stock.
Shares of Caseys General Stores (NASDAQ:CASY) traded up $1.62 during trading hours on Monday, hitting $115.44. 415,600 shares of the stock traded hands, compared to its average volume of 494,917. The firm has a market capitalization of $4,440.00, a P/E ratio of 26.84, a PEG ratio of 2.44 and a beta of 0.45. The company has a quick ratio of 0.48, a current ratio of 0.99 and a debt-to-equity ratio of 0.91. Caseys General Stores has a 52 week low of $99.76 and a 52 week high of $126.49.
Caseys General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Tuesday, September 5th. The company reported $1.46 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.46. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.16 billion. Caseys General Stores had a net margin of 2.19% and a return on equity of 13.99%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.70 earnings per share. sell-side analysts expect that Caseys General Stores will post 4.31 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be issued a dividend of $0.26 per share. The ex-dividend date is Tuesday, October 31st. This represents a $1.04 dividend on an annualized basis and a yield of 0.90%. Caseys General Stores’s payout ratio is currently 24.53%.
Caseys General Stores Company Profile
Casey’s General Stores, Inc and its subsidiaries, operate convenience stores under the name Casey’s General Store in approximately 10 Midwestern states, in Iowa, Missouri, and Illinois. The Company also operates approximately two stores selling primarily tobacco products. The stores carry a range of food, including freshly prepared foods such as pizza, donuts, and sandwiches, beverages, tobacco products, health and beauty aids, automotive products and other nonfood items.
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