Casey's General Stores, Inc. (NASDAQ:CASY) Announces Quarterly Dividend of $0.57

Casey's General Stores, Inc. (NASDAQ:CASY - Get Free Report) announced a quarterly dividend on Monday, June 9th, RTT News reports. Investors of record on Friday, August 1st will be paid a dividend of 0.57 per share on Friday, August 15th. This represents a $2.28 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Friday, August 1st. This is a 14.0% increase from Casey's General Stores's previous quarterly dividend of $0.50.

Casey's General Stores has a dividend payout ratio of 11.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Casey's General Stores to earn $15.78 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 12.7%.

Casey's General Stores Trading Up 1.5%

Shares of Casey's General Stores stock traded up $7.46 during trading on Thursday, hitting $506.99. The company's stock had a trading volume of 603,815 shares, compared to its average volume of 307,429. The stock has a market cap of $18.82 billion, a price-to-earnings ratio of 35.33, a price-to-earnings-growth ratio of 2.40 and a beta of 0.65. Casey's General Stores has a 52 week low of $350.00 and a 52 week high of $509.08. The stock has a 50-day moving average price of $450.09 and a two-hundred day moving average price of $425.25. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.49.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its quarterly earnings results on Monday, June 9th. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.69. Casey's General Stores had a net margin of 3.57% and a return on equity of 17.17%. The firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.95 billion. During the same quarter last year, the business earned $2.34 EPS. The company's revenue was up 10.9% compared to the same quarter last year. Equities research analysts anticipate that Casey's General Stores will post 13.94 EPS for the current fiscal year.

Insider Activity

In related news, insider Katrina S. Lindsey sold 250 shares of the business's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $437.01, for a total transaction of $109,252.50. Following the completion of the sale, the insider now directly owns 2,443 shares in the company, valued at approximately $1,067,615.43. The trade was a 9.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.56% of the company's stock.

Hedge Funds Weigh In On Casey's General Stores

An institutional investor recently raised its position in Casey's General Stores stock. Geneos Wealth Management Inc. grew its position in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 129.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 186 shares of the company's stock after acquiring an additional 105 shares during the quarter. Geneos Wealth Management Inc.'s holdings in Casey's General Stores were worth $81,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 85.63% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CASY has been the subject of several recent research reports. KeyCorp boosted their price objective on Casey's General Stores from $500.00 to $550.00 and gave the company an "overweight" rating in a report on Wednesday. BMO Capital Markets lifted their price target on shares of Casey's General Stores from $450.00 to $515.00 and gave the company a "market perform" rating in a research report on Wednesday. Wall Street Zen downgraded shares of Casey's General Stores from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Stephens reaffirmed an "overweight" rating and issued a $490.00 price objective on shares of Casey's General Stores in a research note on Tuesday. Finally, Gordon Haskett raised shares of Casey's General Stores from a "hold" rating to a "buy" rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, Casey's General Stores has a consensus rating of "Moderate Buy" and an average target price of $452.43.

About Casey's General Stores

Casey's General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.