Casey’s General Stores, Inc. (NASDAQ:CASY) Given Average Rating of “Moderate Buy” by Brokerages

by · The Cerbat Gem

Shares of Casey’s General Stores, Inc. (NASDAQ:CASY – Get Free Report) have been assigned an average rating of “Moderate Buy” from the twelve research firms that are covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $585.6667.

CASY has been the subject of a number of research reports. Stephens lifted their price objective on Casey’s General Stores from $570.00 to $600.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 3rd. BMO Capital Markets raised their target price on shares of Casey’s General Stores from $515.00 to $540.00 and gave the company a “market perform” rating in a research note on Wednesday, September 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Casey’s General Stores in a research note on Monday, December 29th. Evercore ISI increased their price objective on shares of Casey’s General Stores from $585.00 to $610.00 and gave the company an “outperform” rating in a report on Tuesday, December 2nd. Finally, Jefferies Financial Group lifted their target price on shares of Casey’s General Stores from $575.00 to $600.00 and gave the stock a “buy” rating in a report on Tuesday, September 9th.

Get Our Latest Analysis on CASY

Casey’s General Stores Stock Performance

Shares of Casey’s General Stores stock opened at $556.26 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.05 and a quick ratio of 0.65. The firm has a 50 day simple moving average of $549.31 and a 200 day simple moving average of $535.13. Casey’s General Stores has a fifty-two week low of $372.08 and a fifty-two week high of $575.98. The firm has a market cap of $20.62 billion, a P/E ratio of 34.21 and a beta of 0.67.

Casey’s General Stores (NASDAQ:CASY – Get Free Report) last announced its quarterly earnings data on Tuesday, December 9th. The company reported $5.53 EPS for the quarter, beating analysts’ consensus estimates of $4.92 by $0.61. The firm had revenue of $4.51 billion for the quarter, compared to analyst estimates of $4.51 billion. Casey’s General Stores had a return on equity of 16.89% and a net margin of 3.58%.The business’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same period last year, the company earned $4.85 EPS. Sell-side analysts predict that Casey’s General Stores will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Sunday, February 1st will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, January 30th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.4%. Casey’s General Stores’s payout ratio is 14.02%.

Hedge Funds Weigh In On Casey’s General Stores

Several hedge funds have recently added to or reduced their stakes in CASY. Vontobel Holding Ltd. increased its stake in shares of Casey’s General Stores by 129.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 890,884 shares of the company’s stock valued at $503,635,000 after acquiring an additional 502,104 shares during the last quarter. Norges Bank acquired a new position in Casey’s General Stores during the second quarter valued at approximately $210,151,000. Third Point LLC acquired a new position in Casey’s General Stores during the first quarter valued at approximately $130,212,000. Victory Capital Management Inc. increased its stake in Casey’s General Stores by 35.4% in the third quarter. Victory Capital Management Inc. now owns 791,415 shares of the company’s stock valued at $447,403,000 after purchasing an additional 206,777 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Casey’s General Stores by 71.7% in the second quarter. Invesco Ltd. now owns 483,907 shares of the company’s stock valued at $246,923,000 after purchasing an additional 202,033 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Company Profile

(Get Free Report)

Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.

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