Casey's General Stores (NASDAQ:CASY) Stock Price Expected to Rise, KeyCorp Analyst Says

Casey's General Stores (NASDAQ:CASY - Free Report) had its price objective upped by KeyCorp from $500.00 to $550.00 in a research report sent to investors on Wednesday,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

A number of other equities research analysts have also recently issued reports on CASY. Evercore ISI boosted their target price on shares of Casey's General Stores from $450.00 to $460.00 and gave the company an "outperform" rating in a research report on Tuesday, April 1st. Gordon Haskett upgraded shares of 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 Casey's General Stores and gave the company a "sector perform" rating in a research note on Wednesday, March 12th. Wells Fargo & Company boosted their price objective on Casey's General Stores from $460.00 to $540.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, Stephens reiterated an "overweight" rating and issued a $490.00 target price on shares of Casey's General Stores in a research note on Tuesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Casey's General Stores presently has an average rating of "Moderate Buy" and an average price target of $453.00.

Casey's General Stores Price Performance

CASY traded down $2.36 during midday trading on Wednesday, reaching $504.64. 23,500 shares of the company's stock were exchanged, compared to its average volume of 301,037. The business has a 50-day simple moving average of $451.87 and a two-hundred day simple moving average of $425.81. The company has a quick ratio of 0.49, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $18.73 billion, a price-to-earnings ratio of 35.17, a price-to-earnings-growth ratio of 2.40 and a beta of 0.65. Casey's General Stores has a one year low of $350.52 and a one year high of $511.00.

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

Casey's General Stores Increases Dividend

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

Insider Buying and Selling at Casey's General Stores

In related news, insider Katrina S. Lindsey sold 250 shares of the business's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $437.01, for a total value of $109,252.50. Following the completion of the sale, the insider now owns 2,443 shares in the company, valued at $1,067,615.43. The trade was a 9.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.56% of the company's stock.

Institutional Inflows and Outflows

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