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

Key Points

• Casey's General Stores received a “Moderate Buy” consensus from 16 analysts, with 9 buy ratings, 1 strong buy, and 6 hold ratings. The average 12-month price target is about $752.36.
• Several analysts recently raised their targets, including KeyCorp to $860 and Jefferies to $780, while Goldman Sachs kept a more cautious neutral rating with a $605 target.
• Insiders showed mixed activity: director Mike Spanos bought 300 shares, while insider Katrina S. Lindsey sold 200 shares. The company also paid a quarterly dividend of $0.57 per share, or $2.28 annualized.

Shares of Casey's General Stores, Inc. (NASDAQ:CASY - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the sixteen analysts that are currently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $752.3636.

A number of equities research analysts have recently weighed in on the company. KeyCorp lifted their target price on Casey's General Stores from $830.00 to $860.00 and gave the stock an "overweight" rating in a report on Friday, April 24th. Jefferies Financial Group upped their target price on Casey's General Stores from $700.00 to $780.00 and gave the company a "buy" rating in a research report on Tuesday, March 10th. Weiss Ratings reiterated a "buy (b)" rating on shares of Casey's General Stores in a research report on Friday, March 27th. Stephens reiterated an "overweight" rating and set a $680.00 target price on shares of Casey's General Stores in a research report on Tuesday, March 10th. Finally, The Goldman Sachs Group upped their target price on Casey's General Stores from $530.00 to $605.00 and gave the company a "neutral" rating in a research report on Wednesday, March 11th.

Insiders Place Their Bets

In other Casey's General Stores news, Director Mike Spanos purchased 300 shares of the stock in a transaction dated Friday, March 13th. The stock was bought at an average price of $665.43 per share, with a total value of $199,629.00. Following the acquisition, the director owned 4,499 shares of the company's stock, valued at approximately $2,993,769.57. This represents a 7.14% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Katrina S. Lindsey sold 200 shares of the business's stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $683.04, for a total value of $136,608.00. Following the transaction, the insider directly owned 4,039 shares of the company's stock, valued at $2,758,798.56. This trade represents a 4.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.54% of the company's stock.

Hedge Funds Weigh In On Casey's General Stores

Institutional investors have recently modified their holdings of the business. Foster Dykema Cabot & Partners LLC acquired a new position in shares of Casey's General Stores during the 3rd quarter worth $25,000. Whipplewood Advisors LLC acquired a new position in shares of Casey's General Stores during the 1st quarter worth $33,000. Westside Investment Management Inc. raised its holdings in shares of Casey's General Stores by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 46 shares of the company's stock worth $26,000 after buying an additional 23 shares in the last quarter. True Wealth Design LLC raised its holdings in shares of Casey's General Stores by 350.0% during the 4th quarter. True Wealth Design LLC now owns 54 shares of the company's stock worth $30,000 after buying an additional 42 shares in the last quarter. Finally, Central Pacific Bank Trust Division raised its holdings in shares of Casey's General Stores by 52.8% during the 4th quarter. Central Pacific Bank Trust Division now owns 55 shares of the company's stock worth $30,000 after buying an additional 19 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company's stock.

Casey's General Stores Stock Down 0.4%

CASY opened at $780.97 on Friday. Casey's General Stores has a fifty-two week low of $433.16 and a fifty-two week high of $901.00. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.64 and a current ratio of 1.04. The company has a market capitalization of $28.86 billion, a P/E ratio of 44.83, a P/E/G ratio of 2.17 and a beta of 0.65. The stock has a fifty day moving average of $778.55 and a 200-day moving average of $666.89.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its earnings results on Monday, March 9th. The company reported $3.49 earnings per share for the quarter, topping analysts' consensus estimates of $2.94 by $0.55. Casey's General Stores had a return on equity of 17.56% and a net margin of 3.83%.The company had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter last year, the firm earned $2.33 earnings per share. The company's revenue was up .3% on a year-over-year basis. On average, equities analysts expect that Casey's General Stores will post 18.19 EPS for the current year.

Casey's General Stores Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Friday, May 1st. Casey's General Stores's dividend payout ratio is presently 13.09%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.