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

Shares of Casey's General Stores, Inc. (NASDAQ:CASY - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the thirteen research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $453.00.

A number of equities analysts have issued reports on CASY shares. Royal Bank of Canada set a $438.00 price target on Casey's General Stores and gave the company a "sector perform" rating in a research note on Wednesday, March 12th. The Goldman Sachs Group raised their target price on Casey's General Stores from $385.00 to $450.00 and gave the company a "neutral" rating in a report on Wednesday. Gordon Haskett raised Casey's General Stores from a "hold" rating to a "buy" rating in a research report on Thursday, February 13th. Wall Street Zen downgraded Casey's General Stores from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Finally, Stephens reissued an "overweight" rating and issued a $490.00 price target on shares of Casey's General Stores in a research report on Tuesday.

Casey's General Stores Stock Down 0.2%

NASDAQ CASY traded down $0.83 during mid-day trading on Friday, hitting $506.16. The company's stock had a trading volume of 457,861 shares, compared to its average volume of 302,706. The firm has a market capitalization of $18.79 billion, a price-to-earnings ratio of 35.27, a PEG ratio of 2.40 and a beta of 0.65. The company's 50 day simple moving average is $451.87 and its 200 day simple moving average is $425.81. The company has a current ratio of 0.88, a quick ratio of 0.49 and a debt-to-equity ratio of 0.74. Casey's General Stores has a twelve month low of $350.52 and a twelve month high of $511.00.

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

Casey's General Stores Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.45%. This is a boost from Casey's General Stores's previous quarterly dividend of $0.50. The ex-dividend date is Friday, August 1st. Casey's General Stores's payout ratio is presently 13.94%.

Insider Buying and Selling

In other news, insider Katrina S. Lindsey sold 250 shares of the firm'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 owns 2,443 shares in the company, valued at $1,067,615.43. This trade represents a 9.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.56% of the stock is owned by insiders.

Hedge Funds Weigh In On Casey's General Stores

Several institutional investors and hedge funds have recently bought and sold shares of the company. Strs Ohio bought a new stake in shares of Casey's General Stores in the first quarter valued at $28,994,000. Advisors Capital Management LLC increased its holdings in Casey's General Stores by 1.1% in the 1st quarter. Advisors Capital Management LLC now owns 45,985 shares of the company's stock worth $19,959,000 after acquiring an additional 488 shares during the last quarter. WBI Investments LLC raised its stake in Casey's General Stores by 39.7% in the 1st quarter. WBI Investments LLC now owns 1,453 shares of the company's stock valued at $631,000 after acquiring an additional 413 shares during the period. Geneos Wealth Management Inc. lifted its holdings in Casey's General Stores by 129.6% during the first quarter. Geneos Wealth Management Inc. now owns 186 shares of the company's stock valued at $81,000 after purchasing an additional 105 shares during the last quarter. Finally, Integrity Alliance LLC. boosted its position in Casey's General Stores by 1,773.7% during the first quarter. Integrity Alliance LLC. now owns 17,894 shares of the company's stock worth $7,767,000 after purchasing an additional 16,939 shares during the period. 85.63% of the stock is owned by institutional investors.

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.