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

Key Points

• Analysts maintain a “Moderate Buy” consensus on Casey’s General Stores, with 14 buy ratings and six holds among 20 firms. The average 12-month price target is $944.20, above the reported $829.91 share price.
• Casey’s exceeded quarterly expectations, reporting $4.37 in EPS versus the $3.31 consensus and $4.57 billion in revenue, up 14.5% year over year. The company also raised its quarterly dividend to $0.65 per share.
• Insiders sold 30,243 shares worth approximately $24.4 million over the past 90 days, while hedge funds and other institutions own 85.63% of the stock.

Casey's General Stores, Inc. (NASDAQ:CASY - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the twenty ratings firms that are presently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $944.20.

Several equities analysts recently issued reports on the company. Northcoast Research raised Casey's General Stores from a "neutral" rating to a "buy" rating and set a $950.00 target price on the stock in a research note on Monday, July 13th. JPMorgan Chase & Co. lifted their target price on Casey's General Stores from $719.00 to $975.00 and gave the company a "neutral" rating in a research report on Friday, June 12th. Evercore reaffirmed an "outperform" rating and issued a $990.00 target price on shares of Casey's General Stores in a research report on Friday, June 12th. Stephens set a $975.00 price target on shares of Casey's General Stores and gave the stock an "overweight" rating in a research note on Friday, June 12th. Finally, Wall Street Zen raised shares of Casey's General Stores from a "hold" rating to a "buy" rating in a research report on Saturday, June 13th.

Insider Activity at Casey's General Stores

In other Casey's General Stores news, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the business's stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $838.16, for a total value of $4,777,512.00. Following the completion of the transaction, the chief financial officer owned 29,677 shares in the company, valued at $24,874,074.32. The trade was a 16.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Chad Michael Frazell sold 3,013 shares of the business's stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $787.49, for a total transaction of $2,372,707.37. Following the completion of the transaction, the insider owned 9,823 shares of the company's stock, valued at approximately $7,735,514.27. This trade represents a 23.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 30,243 shares of company stock worth $24,421,877 over the last 90 days. 0.67% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Whipplewood Advisors LLC purchased a new stake in Casey's General Stores during the 1st quarter worth about $33,000. Bell Investment Advisors Inc acquired a new stake in Casey's General Stores in the 2nd quarter valued at about $33,000. Larson Financial Group LLC boosted its stake in shares of Casey's General Stores by 252.4% in the 4th quarter. Larson Financial Group LLC now owns 74 shares of the company's stock valued at $41,000 after buying an additional 53 shares during the period. RMG Wealth Management LLC boosted its stake in shares of Casey's General Stores by 250.0% in the 1st quarter. RMG Wealth Management LLC now owns 56 shares of the company's stock valued at $41,000 after buying an additional 40 shares during the period. Finally, Elyxium Wealth LLC purchased a new position in shares of Casey's General Stores in the 4th quarter valued at about $43,000. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Casey's General Stores Stock Down 2.9%

Shares of NASDAQ CASY opened at $829.91 on Wednesday. The firm has a market cap of $30.71 billion, a price-to-earnings ratio of 43.31, a PEG ratio of 2.56 and a beta of 0.61. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. Casey's General Stores has a 52-week low of $490.00 and a 52-week high of $927.85. The business's 50 day moving average is $832.74 and its two-hundred day moving average is $764.06.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, topping the consensus estimate of $3.31 by $1.06. Casey's General Stores had a return on equity of 18.73% and a net margin of 4.07%.The business had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same period last year, the business posted $2.63 earnings per share. The company's quarterly revenue was up 14.5% on a year-over-year basis. Research analysts predict that Casey's General Stores will post 21.14 EPS 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 14th. Investors of record on Saturday, August 1st will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Friday, July 31st. This is an increase from Casey's General Stores's previous quarterly dividend of $0.57. Casey's General Stores's payout ratio is currently 13.57%.

About Casey's General Stores

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.

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