Casey’s General Stores, Inc. (NASDAQ:CASY) Stock Has Consensus Target Price of $840.69

Shares of Casey’s General Stores, Inc. (NASDAQ:CASY) have received a consensus rating of “Moderate Buy” from the twenty-one ratings firms that are covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $840.69.

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. decreased their price objective on Casey’s General Stores from $975.00 to $833.00 and set a “neutral” rating on the stock in a report on Thursday, September 3rd. Wolfe Research restated an “outperform” rating and issued a $1,069.00 target price on shares of Casey’s General Stores in a research note on Thursday, June 11th. Evercore reaffirmed an “outperform” rating and issued a $775.00 target price on shares of Casey’s General Stores in a research report on Friday, September 11th. Morgan Stanley upgraded shares of Casey’s General Stores to a “buy” rating in a research note on Wednesday, June 10th. Finally, BNP Paribas Exane lowered their price target on shares of Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating on the stock in a report on Thursday, June 25th.

Casey’s General Stores Stock Up 2.0%

NASDAQ CASY opened at $633.25 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.61 and a current ratio of 1.02. The firm has a 50-day simple moving average of $729.25 and a 200 day simple moving average of $776.80. Casey’s General Stores has a twelve month low of $497.38 and a twelve month high of $927.85. The stock has a market cap of $23.40 billion, a PE ratio of 30.50, a PEG ratio of 2.02 and a beta of 0.59.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Tuesday, September 8th. The company reported $7.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.78 by $0.59. The firm had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.56 billion. Casey’s General Stores had a return on equity of 19.68% and a net margin of 4.14%.The company’s quarterly revenue was up 24.3% compared to the same quarter last year. During the same period in the previous year, the company posted $5.77 earnings per share. On average, research analysts forecast that Casey’s General Stores will post 21.43 EPS for the current year.

Casey’s General Stores Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Sunday, November 1st will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, October 30th. Casey’s General Stores’s dividend payout ratio (DPR) is presently 12.52%.

Institutional Trading of Casey’s General Stores

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in Casey’s General Stores during the second quarter worth about $2,759,895,000. Franklin Resources Inc. raised its holdings in shares of Casey’s General Stores by 40.9% in the 4th quarter. Franklin Resources Inc. now owns 1,068,682 shares of the company’s stock worth $590,671,000 after buying an additional 310,470 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Casey’s General Stores in the 2nd quarter worth approximately $281,872,000. Bank of New York Mellon Corp acquired a new position in shares of Casey’s General Stores in the 2nd quarter worth approximately $281,011,000. Finally, Norges Bank bought a new position in shares of Casey’s General Stores during the 4th quarter worth approximately $265,163,000. Institutional investors own 85.63% of the company’s stock.

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.