Casey's General Stores (NASDAQ:CASY) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Casey's General Stores (NASDAQ:CASY - Free Report) had its target price boosted by Royal Bank Of Canada from $468.00 to $542.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a sector perform rating on the stock.

Other equities analysts also recently issued research reports about the stock. The Goldman Sachs Group boosted their target price on shares of Casey's General Stores from $385.00 to $450.00 and gave the stock a "neutral" rating in a report on Wednesday, June 11th. Evercore ISI upped their price objective 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. Stephens reissued an "overweight" rating and issued a $490.00 target price on shares of Casey's General Stores in a report on Tuesday, June 10th. BMO Capital Markets boosted their price target on shares of Casey's General Stores from $450.00 to $515.00 and gave the stock a "market perform" rating in a research report on Wednesday, June 11th. Finally, KeyCorp increased their price objective on shares of Casey's General Stores from $500.00 to $550.00 and gave the company an "overweight" rating in a research report on Wednesday, June 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Casey's General Stores currently has an average rating of "Moderate Buy" and an average target price of $461.00.

Casey's General Stores Stock Performance

Casey's General Stores stock traded up $2.34 during midday trading on Wednesday, hitting $524.66. The stock had a trading volume of 104,742 shares, compared to its average volume of 303,824. Casey's General Stores has a 52-week low of $350.52 and a 52-week high of $526.82. The company has a market capitalization of $19.51 billion, a PE ratio of 35.84 and a beta of 0.69. The firm's fifty day moving average is $474.77 and its two-hundred day moving average is $437.75. The company has a current ratio of 0.92, a quick ratio of 0.48 and a debt-to-equity ratio of 0.69.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings data on Monday, June 9th. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.94 by $0.69. The firm had revenue of $3.99 billion during the quarter, compared to analysts' expectations of $3.95 billion. Casey's General Stores had a net margin of 3.43% and a return on equity of 16.28%. The company's revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.34 earnings per share. On average, research analysts forecast 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 paid a dividend of $0.57 per share. The ex-dividend date is Friday, August 1st. This represents a $2.28 annualized dividend and a dividend yield of 0.43%. This is a positive change from Casey's General Stores's previous quarterly dividend of $0.50. Casey's General Stores's dividend payout ratio (DPR) is currently 13.66%.

Insider Buying and Selling at Casey's General Stores

In related news, CFO Stephen P. Bramlage, Jr. sold 8,478 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $509.21, for a total value of $4,317,082.38. Following the completion of the transaction, the chief financial officer owned 26,754 shares of the company's stock, valued at $13,623,404.34. The trade was a 24.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Chad Michael Frazell sold 4,808 shares of Casey's General Stores stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $503.97, for a total value of $2,423,087.76. Following the completion of the transaction, the insider owned 11,480 shares in the company, valued at $5,785,575.60. This trade represents a 29.52% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,646 shares of company stock worth $22,136,614. 0.56% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Casey's General Stores

Institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its holdings in shares of Casey's General Stores by 190.6% in the first quarter. Wellington Management Group LLP now owns 1,244,311 shares of the company's stock worth $540,081,000 after buying an additional 816,110 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Casey's General Stores by 54,448.8% during the first quarter. GAMMA Investing LLC now owns 543,852 shares of the company's stock worth $236,054,000 after purchasing an additional 542,855 shares during the period. Norges Bank acquired a new position in Casey's General Stores in the 4th quarter worth approximately $175,607,000. JPMorgan Chase & Co. boosted its holdings in shares of Casey's General Stores by 42.0% in the 1st quarter. JPMorgan Chase & Co. now owns 1,036,426 shares of the company's stock valued at $449,851,000 after acquiring an additional 306,628 shares during the last quarter. Finally, Third Point LLC acquired a new stake in shares of Casey's General Stores in the first quarter worth $130,212,000. 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.