Casey’s General Stores (NASDAQ:CASY) Upgraded at StockNews.com

StockNews.com upgraded shares of Casey’s General Stores (NASDAQ:CASY) from a hold rating to a buy rating in a research report report published on Tuesday.

A number of other brokerages have also recently issued reports on CASY. Royal Bank of Canada lifted their target price on shares of Casey’s General Stores from $403.00 to $428.00 and gave the stock a “sector perform” rating in a report on Tuesday, December 10th. Gordon Haskett upgraded Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft raised their target price on Casey’s General Stores from $451.00 to $454.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. BMO Capital Markets reiterated a “market perform” rating and issued a $450.00 price target (up from $400.00) on shares of Casey’s General Stores in a research report on Wednesday, December 18th. Finally, Evercore ISI boosted 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 report on Friday, December 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $424.00.

Casey’s General Stores Stock Performance

CASY stock opened at $420.54 on Tuesday. The company has a 50 day moving average price of $410.51 and a 200 day moving average price of $396.45. Casey’s General Stores has a fifty-two week low of $287.77 and a fifty-two week high of $445.17. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.49. The stock has a market capitalization of $15.61 billion, a PE ratio of 29.31, a price-to-earnings-growth ratio of 2.43 and a beta of 0.83.

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

Casey’s General Stores Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 17th. Stockholders of record on Monday, February 3rd were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.48%. Casey’s General Stores’s dividend payout ratio (DPR) is 13.94%.

Insider Activity at Casey’s General Stores

In other news, Director Mike Spanos bought 500 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average cost of $396.76 per share, for a total transaction of $198,380.00. Following the purchase, the director now owns 3,097 shares of the company’s stock, valued at approximately $1,228,765.72. This trade represents a 19.25 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Katrina S. Lindsey sold 450 shares of Casey’s General Stores stock in a transaction that occurred 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 transaction, the insider now owns 2,247 shares of the company’s stock, valued at $959,761.11. This represents a 16.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.56% of the stock is owned by insiders.

Institutional Investors Weigh In On Casey’s General Stores

A number of large investors have recently added to or reduced their stakes in the business. HighPoint Advisor Group LLC raised its stake in Casey’s General Stores by 1.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 1,468 shares of the company’s stock valued at $628,000 after purchasing an additional 25 shares in the last quarter. Private Trust Co. NA grew its stake in Casey’s General Stores by 1.3% during the third quarter. Private Trust Co. NA now owns 2,072 shares of the company’s stock worth $778,000 after buying an additional 27 shares in the last quarter. Dark Forest Capital Management LP increased its holdings in Casey’s General Stores by 3.2% in the 4th quarter. Dark Forest Capital Management LP now owns 902 shares of the company’s stock valued at $357,000 after buying an additional 28 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in shares of Casey’s General Stores by 24.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 149 shares of the company’s stock valued at $59,000 after buying an additional 29 shares in the last quarter. Finally, Verus Capital Partners LLC raised its position in shares of Casey’s General Stores by 3.1% in the 3rd quarter. Verus Capital Partners LLC now owns 991 shares of the company’s stock valued at $372,000 after buying an additional 30 shares in the last quarter. 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.