Casey’s General Stores, Inc. (NASDAQ:CASY) Plans $0.50 Quarterly Dividend

Casey’s General Stores, Inc. (NASDAQ:CASY) announced a quarterly dividend on Thursday, August 29th, Zacks reports. Stockholders of record on Friday, November 1st will be given a dividend of 0.50 per share on Friday, November 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date is Friday, November 1st.

Casey’s General Stores has raised its dividend payment by an average of 8.2% annually over the last three years and has increased its dividend annually for the last 24 consecutive years. Casey’s General Stores has a payout ratio of 12.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Casey’s General Stores to earn $15.49 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 12.9%.

Casey’s General Stores Trading Down 0.1 %

CASY stock opened at $398.31 on Thursday. The stock has a market capitalization of $14.78 billion, a price-to-earnings ratio of 28.99 and a beta of 0.80. Casey’s General Stores has a twelve month low of $266.56 and a twelve month high of $401.17. The firm’s fifty day simple moving average is $377.61 and its two-hundred day simple moving average is $362.04. The company has a quick ratio of 0.44, a current ratio of 0.84 and a debt-to-equity ratio of 0.44.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, topping the consensus estimate of $4.54 by $0.29. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. The company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter last year, the firm posted $4.52 EPS. The firm’s revenue was up 5.9% compared to the same quarter last year. As a group, analysts anticipate that Casey’s General Stores will post 14.01 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Darren M. Rebelez sold 13,500 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $374.54, for a total value of $5,056,290.00. Following the completion of the transaction, the chief executive officer now owns 73,838 shares of the company’s stock, valued at $27,655,284.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Darren M. Rebelez sold 13,500 shares of Casey’s General Stores stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $374.54, for a total transaction of $5,056,290.00. Following the completion of the transaction, the chief executive officer now directly owns 73,838 shares in the company, valued at approximately $27,655,284.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mike Spanos purchased 267 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was bought at an average cost of $376.18 per share, with a total value of $100,440.06. Following the completion of the acquisition, the director now directly owns 2,594 shares of the company’s stock, valued at $975,810.92. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.56% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on CASY. Wells Fargo & Company boosted their price target on shares of Casey’s General Stores from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Friday, September 6th. StockNews.com cut shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 3rd. Evercore ISI increased their target price on shares of Casey’s General Stores from $435.00 to $440.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Northcoast Research raised Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $410.00 price target on the stock in a research report on Thursday, July 11th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Casey’s General Stores from $420.00 to $444.00 and gave the company a “buy” rating in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $408.09.

Casey’s General Stores Company Profile

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.