Casey's General Stores (NASDAQ:CASY - Free Report) had its price objective hoisted by Royal Bank Of Canada from $468.00 to $542.00 in a research note released on Wednesday,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the stock.
Several other analysts also recently issued reports on the company. The Goldman Sachs Group boosted their price target on Casey's General Stores from $385.00 to $450.00 and gave the company a "neutral" rating in a research note on Wednesday, June 11th. BMO Capital Markets boosted their price target on Casey's General Stores from $450.00 to $515.00 and gave the company a "market perform" rating in a research note on Wednesday, June 11th. Wells Fargo & Company boosted their price target on Casey's General Stores from $460.00 to $540.00 and gave the company an "overweight" rating in a research note on Wednesday, June 11th. Stephens reaffirmed an "overweight" rating and issued a $490.00 price objective on shares of Casey's General Stores in a report on Tuesday, June 10th. Finally, KeyCorp lifted their price objective on Casey's General Stores from $500.00 to $550.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $461.00.
Check Out Our Latest Analysis on CASY
Casey's General Stores Stock Up 2.0%
Shares of NASDAQ:CASY traded up $10.02 during trading on Wednesday, hitting $522.32. 352,694 shares of the company's stock traded hands, compared to its average volume of 304,235. Casey's General Stores has a 52 week low of $350.52 and a 52 week high of $526.82. The company has a current ratio of 0.92, a quick ratio of 0.48 and a debt-to-equity ratio of 0.69. The company has a market cap of $19.42 billion, a price-to-earnings ratio of 35.68 and a beta of 0.69. The company has a 50-day moving average price of $473.58 and a 200-day moving average price of $437.16.
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 analysts' consensus estimates of $1.94 by $0.69. Casey's General Stores had a net margin of 3.43% and a return on equity of 16.28%. The business had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.95 billion. During the same period in the previous year, the company earned $2.34 earnings per share. The firm's revenue for the quarter was up 10.9% on a year-over-year basis. As a group, research analysts forecast that Casey's General Stores will post 13.94 EPS for the current fiscal year.
Casey's General Stores Increases Dividend
The business 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 is a positive change from Casey's General Stores's previous quarterly dividend of $0.50. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Friday, August 1st. Casey's General Stores's dividend payout ratio (DPR) is presently 13.66%.
Insider Buying and Selling
In other news, CEO Darren M. Rebelez sold 20,000 shares of the business's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $507.83, for a total transaction of $10,156,600.00. Following the completion of the transaction, the chief executive officer owned 89,840 shares of the company's stock, valued at approximately $45,623,447.20. The trade was a 18.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mike Spanos purchased 200 shares of the business's stock in a transaction on Monday, June 30th. The stock was bought at an average cost of $503.18 per share, with a total value of $100,636.00. Following the purchase, the director owned 3,560 shares in the company, valued at approximately $1,791,320.80. This represents a 5.95% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 43,646 shares of company stock valued at $22,136,614 in the last ninety days. 0.56% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of CASY. M&T Bank Corp raised its position in shares of Casey's General Stores by 2.1% in the 4th quarter. M&T Bank Corp now owns 1,802 shares of the company's stock worth $714,000 after acquiring an additional 37 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Casey's General Stores during the 4th quarter valued at $45,224,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Casey's General Stores during the 4th quarter valued at $296,000. PNC Financial Services Group Inc. boosted its stake in shares of Casey's General Stores by 7.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 15,863 shares of the company's stock worth $6,285,000 after acquiring an additional 1,138 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Casey's General Stores by 13.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,426 shares of the company's stock valued at $3,735,000 after buying an additional 1,153 shares during the last quarter. 85.63% of the stock is owned by institutional investors.
Casey's General Stores Company Profile
(
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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.
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