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

Key Points

• Casey's General Stores has received a consensus recommendation of "Moderate Buy" from eleven ratings firms, with an average 12-month price target of $520.55.
• The company reported an earnings per share (EPS) of $5.77 for the last quarter, exceeding analyst estimates of $5.02, alongside an 11.5% revenue growth year-over-year.
• Casey's General Stores declared a quarterly dividend of $0.57 per share, with a yield of 0.4%, to be paid on November 14th.

Shares of Casey's General Stores, Inc. (NASDAQ:CASY - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the eleven ratings firms that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $520.5455.

A number of research firms have recently commented on CASY. Wall Street Zen upgraded Casey's General Stores from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. BMO Capital Markets lifted their target price on Casey's General Stores from $515.00 to $540.00 and gave the stock a "market perform" rating in a research report on Wednesday, September 10th. Evercore ISI lifted their target price on Casey's General Stores from $560.00 to $580.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 10th. Stephens reiterated an "overweight" rating and set a $530.00 target price on shares of Casey's General Stores in a research report on Tuesday, September 9th. Finally, Jefferies Financial Group lifted their target price on Casey's General Stores from $575.00 to $600.00 and gave the stock a "buy" rating in a research report on Tuesday, September 9th.

Casey's General Stores Trading Up 0.6%

NASDAQ:CASY opened at $546.89 on Friday. The firm has a market cap of $20.33 billion, a PE ratio of 35.10 and a beta of 0.66. The stock has a fifty day moving average price of $519.47 and a 200 day moving average price of $477.42. Casey's General Stores has a 12-month low of $362.42 and a 12-month high of $571.57. The company has a current ratio of 1.03, a quick ratio of 0.61 and a debt-to-equity ratio of 0.65.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its earnings results on Monday, September 8th. The company reported $5.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.02 by $0.75. The firm had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.47 billion. Casey's General Stores had a return on equity of 16.73% and a net margin of 3.54%.Casey's General Stores's revenue was up 11.5% compared to the same quarter last year. During the same period last year, the business posted $4.83 earnings per share. Sell-side analysts anticipate that Casey's General Stores will post 13.94 earnings per share for the current fiscal year.

Casey's General Stores Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Saturday, November 1st will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, October 31st. Casey's General Stores's payout ratio is 14.63%.

Insider Activity

In other news, Director Mike Spanos purchased 200 shares of the firm's stock in a transaction dated Monday, June 30th. The shares were acquired at an average price of $503.18 per share, with a total value of $100,636.00. Following the purchase, the director directly owned 3,560 shares of the company's stock, valued at $1,791,320.80. The trade was a 5.95% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Stephen P. Bramlage, Jr. sold 760 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $507.56, for a total value of $385,745.60. Following the completion of the sale, the chief financial officer directly owned 25,994 shares in the company, valued at approximately $13,193,514.64. The trade was a 2.84% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.54% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc acquired a new stake in shares of Casey's General Stores during the 1st quarter worth $25,000. Global Financial Private Client LLC raised its position in Casey's General Stores by 325.0% in the first quarter. Global Financial Private Client LLC now owns 68 shares of the company's stock valued at $30,000 after purchasing an additional 52 shares during the period. Summit Securities Group LLC purchased a new position in Casey's General Stores in the first quarter valued at about $32,000. Nvwm LLC acquired a new stake in shares of Casey's General Stores during the second quarter valued at about $32,000. Finally, Rossby Financial LCC grew its stake in shares of Casey's General Stores by 580.0% during the second quarter. Rossby Financial LCC now owns 68 shares of the company's stock valued at $35,000 after acquiring an additional 58 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.

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