Brokerages Set Casey's General Stores, Inc. (NASDAQ:CASY) PT at $430.33

Casey's General Stores, Inc. (NASDAQ:CASY - Get Free Report) has been assigned an average rating of "Moderate Buy" from the thirteen analysts that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, eight have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $430.33.

A number of research analysts recently commented on the stock. 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. Evercore ISI boosted their price target on shares of Casey's General Stores from $450.00 to $460.00 and gave the company an "outperform" rating in a report on Tuesday, April 1st. KeyCorp started coverage on Casey's General Stores in a report on Friday, April 11th. They set an "overweight" rating and a $500.00 price objective for the company. Stephens upgraded Casey's General Stores to a "strong-buy" rating in a research note on Monday, April 7th. Finally, StockNews.com lowered Casey's General Stores from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th.

Casey's General Stores Stock Down 1.8%

NASDAQ:CASY traded down $8.21 during trading hours on Monday, hitting $450.43. 325,915 shares of the stock traded hands, compared to its average volume of 291,136. The firm has a 50 day moving average price of $439.64 and a 200 day moving average price of $420.73. The firm has a market cap of $16.72 billion, a price-to-earnings ratio of 31.39, a PEG ratio of 2.40 and a beta of 0.70. Casey's General Stores has a fifty-two week low of $313.89 and a fifty-two week high of $474.97. 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 (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings data on Tuesday, March 11th. The company reported $2.33 EPS for the quarter, topping analysts' consensus estimates of $1.76 by $0.57. Casey's General Stores had a return on equity of 17.17% and a net margin of 3.57%. The firm had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.74 billion. During the same period last year, the company posted $2.33 EPS. The business's quarterly revenue was up 17.2% compared to the same quarter last year. Equities research analysts anticipate that Casey's General Stores will post 13.94 earnings per share for the current year.

Casey's General Stores Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, May 1st. This represents a $2.00 annualized dividend and a yield of 0.44%. Casey's General Stores's dividend payout ratio (DPR) is presently 13.94%.

Insiders Place Their Bets

In related news, insider Katrina S. Lindsey sold 250 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was 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 represents a 9.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mike Spanos bought 256 shares of the stock in a transaction on Thursday, March 13th. The stock was acquired at an average cost of $390.54 per share, for a total transaction of $99,978.24. Following the acquisition, the director now directly owns 3,356 shares in the company, valued at approximately $1,310,652.24. The trade was a 8.26% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.56% of the company's stock.

Hedge Funds Weigh In On Casey's General Stores

Several large investors have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its stake in shares of Casey's General Stores by 190.6% in the first quarter. Wellington Management Group LLP now owns 1,244,311 shares of the company's stock valued at $540,081,000 after buying an additional 816,110 shares during the period. Raymond James Financial Inc. acquired a new position in Casey's General Stores in the 4th quarter valued at approximately $236,500,000. GAMMA Investing LLC lifted its position in shares of Casey's General Stores by 54,448.8% in the 1st quarter. GAMMA Investing LLC now owns 543,852 shares of the company's stock worth $236,054,000 after acquiring an additional 542,855 shares during the period. Norges Bank acquired a new stake in shares of Casey's General Stores during the 4th quarter worth approximately $175,607,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Casey's General Stores by 42.0% during the 1st quarter. JPMorgan Chase & Co. now owns 1,036,426 shares of the company's stock worth $449,851,000 after purchasing an additional 306,628 shares in the last quarter. 85.63% of the stock is currently owned by institutional investors and hedge funds.

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.