Evercore ISI Trims Casey's General Stores (NASDAQ:CASY) Target Price to $350.00

Casey's General Stores (NASDAQ:CASY - Free Report) had its price target reduced by Evercore ISI from $355.00 to $350.00 in a report issued on Tuesday, Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts also recently commented on CASY. Benchmark reissued a buy rating and set a $312.00 target price on shares of Casey's General Stores in a research report on Wednesday, March 6th. StockNews.com cut shares of Casey's General Stores from a strong-buy rating to a buy rating in a research note on Thursday, March 21st. Stephens raised their price objective on shares of Casey's General Stores from $305.00 to $340.00 and gave the company an overweight rating in a research report on Wednesday, December 13th. Royal Bank of Canada increased their target price on shares of Casey's General Stores from $291.00 to $296.00 and gave the company a sector perform rating in a report on Tuesday, December 12th. Finally, BMO Capital Markets raised their price target on shares of Casey's General Stores from $290.00 to $305.00 and gave the stock a market perform rating in a report on Wednesday, March 13th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $308.44.

Casey's General Stores Price Performance

Shares of NASDAQ CASY traded down $2.87 during midday trading on Tuesday, reaching $312.50. 315,672 shares of the company were exchanged, compared to its average volume of 275,333. The stock's 50-day moving average price is $295.34 and its 200-day moving average price is $282.72. The stock has a market cap of $11.57 billion, a P/E ratio of 24.78, a PEG ratio of 2.54 and a beta of 0.83. Casey's General Stores has a one year low of $212.50 and a one year high of $324.40. The company has a quick ratio of 0.42, a current ratio of 0.89 and a debt-to-equity ratio of 0.54.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its earnings results on Tuesday, March 12th. The company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.13. The business had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.51 billion. Casey's General Stores had a net margin of 3.23% and a return on equity of 16.70%. Casey's General Stores's revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.36 earnings per share. On average, sell-side analysts anticipate that Casey's General Stores will post 12.88 earnings per share for the current fiscal year.

Casey's General Stores Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a $0.43 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.55%. Casey's General Stores's dividend payout ratio is presently 13.67%.

Insider Activity at Casey's General Stores

In other Casey's General Stores news, Director Mike Spanos bought 725 shares of the business's stock in a transaction that occurred on Wednesday, January 3rd. The stock was bought at an average cost of $275.43 per share, for a total transaction of $199,686.75. Following the completion of the transaction, the director now owns 1,791 shares of the company's stock, valued at approximately $493,295.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Casey's General Stores

Hedge funds have recently modified their holdings of the company. Comerica Bank bought a new position in shares of Casey's General Stores in the third quarter worth approximately $5,834,000. Quantbot Technologies LP bought a new position in shares of Casey's General Stores in the third quarter worth approximately $1,336,000. Lord Abbett & CO. LLC purchased a new position in shares of Casey's General Stores in the third quarter worth $21,993,000. Zions Bancorporation N.A. lifted its holdings in shares of Casey's General Stores by 2.7% in the third quarter. Zions Bancorporation N.A. now owns 6,184 shares of the company's stock worth $1,679,000 after buying an additional 161 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of Casey's General Stores by 41.8% in the third quarter. DekaBank Deutsche Girozentrale now owns 3,677 shares of the company's stock worth $1,005,000 after buying an additional 1,084 shares in the last quarter. 85.63% of the stock is currently owned by institutional investors.

About Casey's General Stores

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.