Casey's General Stores' (CASY) "Overweight" Rating Reiterated at Stephens

Stephens reaffirmed their overweight rating on shares of Casey's General Stores (NASDAQ:CASY - Free Report) in a research note issued to investors on Tuesday,Benzinga reports. Stephens currently has a $490.00 price target on the stock.

Other analysts have also issued research reports about the company. KeyCorp started coverage on Casey's General Stores in a research report on Friday, April 11th. They set an "overweight" rating and a $500.00 price objective on the stock. Wall Street Zen lowered shares of Casey's General Stores from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Gordon Haskett upgraded Casey's General Stores from a "hold" rating to a "buy" rating in a research report on Thursday, February 13th. Royal Bank of Canada set a $438.00 target price on shares of Casey's General Stores and gave the stock a "sector perform" rating in a research note on Wednesday, March 12th. Finally, Evercore ISI increased their price target on Casey's General Stores from $450.00 to $460.00 and gave the stock an "outperform" rating in a report on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Casey's General Stores currently has a consensus rating of "Moderate Buy" and an average target price of $447.62.

Casey's General Stores Stock Performance

Casey's General Stores stock traded up $11.26 during mid-day trading on Tuesday, hitting $501.46. The company had a trading volume of 228,177 shares, compared to its average volume of 305,263. 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 12-month low of $322.78 and a 12-month high of $509.08. The company's fifty day moving average is $448.42 and its 200-day moving average is $424.74. The company has a market capitalization of $18.61 billion, a price-to-earnings ratio of 34.89, a P/E/G ratio of 2.40 and a beta of 0.65.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its earnings results on Monday, June 9th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.69. The business had revenue of $3.99 billion for the quarter, compared to analysts' expectations of $3.95 billion. Casey's General Stores had a return on equity of 17.17% and a net margin of 3.57%. The business's revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.34 EPS. Equities research analysts predict that Casey's General Stores will post 13.94 EPS for the current year.

Casey's General Stores Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be paid a $0.57 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a $2.28 dividend on an annualized basis and a yield of 0.45%. This is a boost from Casey's General Stores's previous quarterly dividend of $0.50. Casey's General Stores's dividend payout ratio (DPR) is currently 13.94%.

Insiders Place Their Bets

In other Casey's General Stores news, Director Mike Spanos bought 256 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was acquired at an average price of $390.54 per share, with a total value of $99,978.24. Following the completion of the transaction, the director now directly owns 3,356 shares in the company, valued at approximately $1,310,652.24. This represents a 8.26% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Katrina S. Lindsey sold 250 shares of the company's stock in a transaction on Friday, April 4th. The shares were sold at an average price of $437.01, for a total value of $109,252.50. Following the transaction, the insider now directly owns 2,443 shares in the company, valued at $1,067,615.43. The trade was a 9.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.56% of the company's stock.

Institutional Investors Weigh In On Casey's General Stores

A number of institutional investors have recently modified their holdings of the stock. Flagship Harbor Advisors LLC raised its holdings in shares of Casey's General Stores by 4.1% during the first quarter. Flagship Harbor Advisors LLC now owns 590 shares of the company's stock worth $256,000 after acquiring an additional 23 shares in the last quarter. HighPoint Advisor Group LLC increased its position in Casey's General Stores by 1.7% in the 4th quarter. HighPoint Advisor Group LLC now owns 1,468 shares of the company's stock worth $628,000 after purchasing an additional 25 shares during the last quarter. Burns J W & Co. Inc. NY raised its stake in shares of Casey's General Stores by 2.1% during the 1st quarter. Burns J W & Co. Inc. NY now owns 1,204 shares of the company's stock worth $522,000 after purchasing an additional 25 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in shares of Casey's General Stores by 1.4% during the 1st quarter. Sunbelt Securities Inc. now owns 1,870 shares of the company's stock valued at $812,000 after buying an additional 26 shares during the last quarter. Finally, Iron Horse Wealth Management LLC grew its stake in shares of Casey's General Stores by 40.0% in the 1st quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company's stock valued at $40,000 after buying an additional 26 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company's stock.

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.