Casey's General Stores, Inc. (NASDAQ:CASY) Given Average Recommendation of "Moderate Buy" by Brokerages

Shares of Casey's General Stores, Inc. (NASDAQ:CASY - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the eleven research firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $424.00.

A number of equities research analysts have recently commented on CASY shares. Royal Bank of Canada increased their price target on shares of Casey's General Stores from $403.00 to $428.00 and gave the company a "sector perform" rating in a report on Tuesday, December 10th. Evercore ISI lifted their price objective on shares of Casey's General Stores from $460.00 to $470.00 and gave the company an "outperform" rating in a research report on Friday, December 13th. JPMorgan Chase & Co. cut shares of Casey's General Stores from a "neutral" rating to an "underweight" rating and lifted their price objective for the stock from $300.00 to $337.00 in a research note on Thursday, September 19th. BMO Capital Markets reissued a "market perform" rating and issued a $450.00 price objective (up previously from $400.00) on shares of Casey's General Stores in a research note on Wednesday, December 18th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Casey's General Stores from $451.00 to $454.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th.

Casey's General Stores Stock Performance

Shares of CASY traded up $0.53 on Tuesday, reaching $391.51. 265,253 shares of the company's stock traded hands, compared to its average volume of 240,628. The stock has a market cap of $14.53 billion, a PE ratio of 27.28, a PEG ratio of 2.20 and a beta of 0.82. The stock's 50 day simple moving average is $408.92 and its two-hundred day simple moving average is $388.81. The company has a current ratio of 0.88, a quick ratio of 0.49 and a debt-to-equity ratio of 0.74. Casey's General Stores has a 52-week low of $268.07 and a 52-week high of $439.68.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its earnings results on Monday, December 9th. The company reported $4.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.29 by $0.56. The company had revenue of $3.95 billion during the quarter, compared to analyst estimates of $4.03 billion. Casey's General Stores had a net margin of 3.57% and a return on equity of 17.17%. The firm's quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $4.24 earnings per share. On average, analysts forecast that Casey's General Stores will post 13.94 earnings per share for the current fiscal year.

Casey's General Stores Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 17th. Stockholders of record on Monday, February 3rd will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, February 3rd. This represents a $2.00 annualized dividend and a dividend yield of 0.51%. Casey's General Stores's payout ratio is currently 13.94%.

Insider Activity

In other news, insider Katrina S. Lindsey sold 450 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $427.13, for a total value of $192,208.50. Following the completion of the sale, the insider now owns 2,247 shares in the company, valued at $959,761.11. This represents a 16.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mike Spanos purchased 500 shares of Casey's General Stores stock in a transaction dated Monday, December 23rd. The shares were purchased at an average price of $396.76 per share, with a total value of $198,380.00. Following the completion of the acquisition, the director now owns 3,097 shares in the company, valued at $1,228,765.72. The trade was a 19.25 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.56% of the company's stock.

Institutional Trading of Casey's General Stores

A number of hedge funds have recently modified their holdings of the company. Venturi Wealth Management LLC increased its position in Casey's General Stores by 941.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 125 shares of the company's stock valued at $47,000 after acquiring an additional 113 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in Casey's General Stores by 24.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 149 shares of the company's stock worth $59,000 after purchasing an additional 29 shares during the last quarter. V Square Quantitative Management LLC grew its stake in Casey's General Stores by 22.5% in the third quarter. V Square Quantitative Management LLC now owns 158 shares of the company's stock valued at $59,000 after purchasing an additional 29 shares in the last quarter. Quarry LP bought a new stake in shares of Casey's General Stores in the 2nd quarter valued at about $72,000. Finally, Kennebec Savings Bank acquired a new position in shares of Casey's General Stores in the third quarter valued at $76,000. Institutional investors own 85.63% of the company's stock.

Casey's General Stores Company Profile

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.