Casey's General Stores, Inc. (NASDAQ:CASY) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Casey's General Stores has received an average rating of "Moderate Buy" from twelve brokerages, with eight analysts issuing buy ratings and one a sell rating.
• The company recently announced a quarterly dividend increase from $0.50 to $0.57 per share, which will be paid on August 15th.
• Casey’s reported strong quarterly earnings, with an EPS of $2.63, surpassing analyst estimates and reflecting a year-over-year revenue increase of 10.9%.

Casey's General Stores, Inc. (NASDAQ:CASY - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the twelve research firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $467.33.

Several research firms have recently issued reports on CASY. Royal Bank Of Canada increased their price objective on shares of Casey's General Stores from $468.00 to $542.00 and gave the company a "sector perform" rating in a report on Wednesday, July 9th. BMO Capital Markets raised their target price on shares of Casey's General Stores from $450.00 to $515.00 and gave the stock a "market perform" rating in a report on Wednesday, June 11th. Wells Fargo & Company raised their target price on shares of Casey's General Stores from $460.00 to $540.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. The Goldman Sachs Group raised their target price on shares of Casey's General Stores from $385.00 to $450.00 and gave the stock a "neutral" rating in a report on Wednesday, June 11th. Finally, Stephens restated an "overweight" rating and set a $490.00 target price on shares of Casey's General Stores in a report on Tuesday, June 10th.

Casey's General Stores Stock Performance

CASY traded up $2.65 on Friday, hitting $522.78. 199,892 shares of the company's stock were exchanged, compared to its average volume of 274,981. The firm has a market cap of $19.44 billion, a PE ratio of 35.71 and a beta of 0.69. Casey's General Stores has a twelve month low of $350.52 and a twelve month high of $531.24. The stock has a fifty day moving average of $498.60 and a two-hundred day moving average of $452.78. The company has a current ratio of 0.92, a quick ratio of 0.48 and a debt-to-equity ratio of 0.69.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings results on Monday, June 9th. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $1.94 by $0.69. Casey's General Stores had a net margin of 3.43% and a return on equity of 16.28%. The company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.95 billion. During the same quarter last year, the business earned $2.34 earnings per share. Casey's General Stores's revenue was up 10.9% compared to the same quarter last year. On average, research analysts anticipate that Casey's General Stores will post 13.94 earnings per share for the current fiscal year.

Casey's General Stores Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be paid a dividend of $0.57 per share. This is an increase from Casey's General Stores's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, August 1st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.4%. Casey's General Stores's dividend payout ratio (DPR) is 13.66%.

Insider Activity at Casey's General Stores

In other news, insider Katrina S. Lindsey sold 2,000 shares of the firm's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $506.07, for a total transaction of $1,012,140.00. Following the transaction, the insider owned 4,636 shares in the company, valued at approximately $2,346,140.52. This trade represents a 30.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Chad Michael Frazell sold 4,808 shares of the firm's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $503.97, for a total transaction of $2,423,087.76. Following the transaction, the insider owned 11,480 shares in the company, valued at $5,785,575.60. This represents a 29.52% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,646 shares of company stock worth $22,136,614. 0.54% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Versant Capital Management Inc bought a new position in shares of Casey's General Stores during the 1st quarter valued at $25,000. Global Financial Private Client LLC raised its holdings in Casey's General Stores by 325.0% in the 1st quarter. Global Financial Private Client LLC now owns 68 shares of the company's stock worth $30,000 after acquiring an additional 52 shares during the period. Rossby Financial LCC raised its holdings in Casey's General Stores by 580.0% in the 2nd quarter. Rossby Financial LCC now owns 68 shares of the company's stock worth $35,000 after acquiring an additional 58 shares during the period. Summit Securities Group LLC bought a new position in Casey's General Stores in the 1st quarter worth $32,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Casey's General Stores in the 2nd quarter worth $42,000. Institutional investors own 85.63% of the company's stock.

Casey's General Stores Company Profile

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.