Casey's General Stores, Inc. (NASDAQ:CASY) Stock Has Average Price Target of $835.38 According to Brokerages

Key Points

• Analysts maintain a moderately bullish outlook: Casey’s General Stores has a consensus “Moderate Buy” rating from 21 brokerages, with 16 buys and five holds. The average 12-month price target is $835.38.
• Quarterly results exceeded expectations: The company reported $7.37 in EPS versus the $6.78 consensus estimate, while revenue rose 24.3% year over year to $5.68 billion.
• Casey’s declared a quarterly dividend of $0.65 per share, equivalent to $2.60 annually and a 0.4% yield. Institutional investors own approximately 85.6% of the company’s stock.

Shares of Casey's General Stores, Inc. (NASDAQ:CASY - Get Free Report) have received an average recommendation of "Moderate Buy" from the twenty-one brokerages that are covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $835.38.

A number of research firms recently issued reports on CASY. William Blair reiterated an "outperform" rating on shares of Casey's General Stores in a research report on Wednesday, September 16th. Royal Bank Of Canada upgraded shares of Casey's General Stores from a "sector perform" rating to an "outperform" rating and dropped their price objective for the company from $910.00 to $825.00 in a report on Thursday, October 15th. KeyCorp cut their price target on Casey's General Stores from $970.00 to $780.00 and set an "overweight" rating for the company in a research note on Thursday, September 10th. Wells Fargo & Company lowered their target price on shares of Casey's General Stores from $960.00 to $750.00 and set an "overweight" rating for the company in a report on Wednesday, September 9th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $933.00 price objective on shares of Casey's General Stores in a research note on Thursday, September 10th.

Casey's General Stores Stock Performance

NASDAQ:CASY opened at $699.26 on Monday. The company has a market cap of $25.84 billion, a price-to-earnings ratio of 33.68, a PEG ratio of 2.26 and a beta of 0.59. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.61 and a current ratio of 1.02. Casey's General Stores has a fifty-two week low of $497.38 and a fifty-two week high of $927.85. The stock has a fifty day moving average price of $686.97 and a 200-day moving average price of $773.34.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings data on Tuesday, September 8th. The company reported $7.37 EPS for the quarter, beating the consensus estimate of $6.78 by $0.59. Casey's General Stores had a net margin of 4.14% and a return on equity of 19.68%. The business had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.56 billion. During the same period in the previous year, the business earned $5.77 earnings per share. The company's revenue was up 24.3% on a year-over-year basis. As a group, equities analysts anticipate that Casey's General Stores will post 21.61 EPS for the current fiscal year.

Casey's General Stores Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Sunday, November 1st will be paid a $0.65 dividend. The ex-dividend date is Friday, October 30th. This represents a $2.60 annualized dividend and a yield of 0.4%. Casey's General Stores's dividend payout ratio is currently 12.52%.

Institutional Trading of Casey's General Stores

A number of large investors have recently modified their holdings of the business. Kathmere Capital Management LLC raised its stake in shares of Casey's General Stores by 3.5% during the first quarter. Kathmere Capital Management LLC now owns 387 shares of the company's stock valued at $282,000 after acquiring an additional 13 shares during the last quarter. Pinnacle Bancorp Inc. grew its stake in shares of Casey's General Stores by 4.8% in the first quarter. Pinnacle Bancorp Inc. now owns 303 shares of the company's stock worth $221,000 after purchasing an additional 14 shares during the last quarter. Lincoln Capital LLC grew its stake in shares of Casey's General Stores by 4.0% in the second quarter. Lincoln Capital LLC now owns 366 shares of the company's stock worth $291,000 after purchasing an additional 14 shares during the last quarter. Jag Capital Management LLC grew its stake in shares of Casey's General Stores by 1.0% in the first quarter. Jag Capital Management LLC now owns 1,753 shares of the company's stock worth $1,276,000 after purchasing an additional 18 shares during the last quarter. Finally, Anchor Investment Management LLC grew its stake in shares of Casey's General Stores by 72.0% in the second quarter. Anchor Investment Management LLC now owns 43 shares of the company's stock worth $34,000 after purchasing an additional 18 shares during the last quarter. Institutional investors own 85.63% of the company's stock.

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.

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