Casey’s General Stores (NASDAQ:CASY) Cut to Hold at StockNews.com

StockNews.com lowered shares of Casey’s General Stores (NASDAQ:CASY) from a buy rating to a hold rating in a research note issued to investors on Monday.

Other analysts also recently issued reports about the company. Evercore ISI increased their price objective on Casey’s General Stores from $460.00 to $470.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Royal Bank of Canada increased their price target on Casey’s General Stores from $403.00 to $428.00 and gave the company a “sector perform” rating in a research report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Casey’s General Stores from $451.00 to $454.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Gordon Haskett started coverage on shares of Casey’s General Stores in a research note on Monday, November 4th. They issued a “hold” rating and a $400.00 target price for the company. Finally, BMO Capital Markets reissued a “market perform” rating and set a $450.00 price target (up from $400.00) on shares of Casey’s General Stores in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Casey’s General Stores has a consensus rating of “Moderate Buy” and an average price target of $424.00.

Casey’s General Stores Stock Performance

Shares of CASY stock opened at $435.35 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.49 and a debt-to-equity ratio of 0.74. The firm has a fifty day simple moving average of $409.54 and a two-hundred day simple moving average of $394.60. Casey’s General Stores has a 12 month low of $279.99 and a 12 month high of $439.68. The firm has a market capitalization of $16.16 billion, a PE ratio of 30.34, a price-to-earnings-growth ratio of 2.48 and a beta of 0.83.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Monday, December 9th. The company reported $4.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.29 by $0.56. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The firm had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same period last year, the company earned $4.24 earnings per share. The business’s revenue was down 2.9% on a year-over-year basis. Analysts forecast that Casey’s General Stores will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 17th. Shareholders of record on Monday, February 3rd will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Monday, February 3rd. Casey’s General Stores’s payout ratio is 13.94%.

Insider Transactions at Casey’s General Stores

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 transaction of $192,208.50. Following the completion of the transaction, the insider now owns 2,247 shares in the company, valued at approximately $959,761.11. This represents a 16.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mike Spanos acquired 500 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average price of $396.76 per share, for a total transaction of $198,380.00. Following the completion of the purchase, the director now directly owns 3,097 shares in the company, valued at $1,228,765.72. This trade represents a 19.25 % increase in their position. The disclosure for this purchase can be found here. 0.56% of the stock is currently owned by company insiders.

Institutional Trading of Casey’s General Stores

A number of institutional investors have recently modified their holdings of the business. YANKCOM Partnership bought a new stake in Casey’s General Stores during the 4th quarter valued at $34,000. Endeavor Private Wealth Inc. purchased a new position in shares of Casey’s General Stores in the fourth quarter valued at $36,000. Venturi Wealth Management LLC grew its position in shares of Casey’s General Stores by 941.7% in the third quarter. Venturi Wealth Management LLC now owns 125 shares of the company’s stock valued at $47,000 after purchasing an additional 113 shares in the last quarter. V Square Quantitative Management LLC raised its stake in shares of Casey’s General Stores by 22.5% during the 3rd 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 during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in Casey’s General Stores by 24.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 149 shares of the company’s stock worth $59,000 after purchasing an additional 29 shares in the last quarter. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

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.