Casey’s General Stores, Inc. (NASDAQ:CASY) Stock Has Consensus Target Price of $840.69

Casey’s General Stores, Inc. (NASDAQ:CASY) has been given a consensus rating of “Moderate Buy” by the twenty-one brokerages that are covering the company, Marketbeat reports. Six analysts have rated the stock with a hold recommendation and fifteen have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $840.69.

A number of equities analysts have commented on the stock. Weiss Ratings downgraded shares of Casey’s General Stores from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, July 21st. William Blair reissued an “outperform” rating on shares of Casey’s General Stores in a report on Wednesday, September 16th. Wolfe Research restated an “outperform” rating and issued a $1,069.00 price target on shares of Casey’s General Stores in a research report on Thursday, June 11th. Capital One Financial started coverage on shares of Casey’s General Stores in a report on Monday, June 22nd. They issued an “equal weight” rating and a $896.00 price target for the company. Finally, Royal Bank Of Canada lowered their price objective on shares of Casey’s General Stores from $913.00 to $910.00 and set a “sector perform” rating for the company in a research report on Wednesday, September 9th.

Insider Activity at Casey’s General Stores

In related news, Director Allison M. Wing sold 530 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $837.58, for a total value of $443,917.40. Following the sale, the director owned 3,042 shares of the company’s stock, valued at approximately $2,547,918.36. This trade represents a 14.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the company’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $838.16, for a total value of $4,777,512.00. Following the transaction, the chief financial officer owned 29,677 shares of the company’s stock, valued at approximately $24,874,074.32. The trade was a 16.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.67% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Casey’s General Stores

A number of hedge funds have recently added to or reduced their stakes in CASY. BlackRock Inc. bought a new position in shares of Casey’s General Stores during the second quarter worth about $2,759,895,000. Franklin Resources Inc. lifted its position in Casey’s General Stores by 40.9% in the 4th quarter. Franklin Resources Inc. now owns 1,068,682 shares of the company’s stock valued at $590,671,000 after purchasing an additional 310,470 shares during the last quarter. Bank of America Corp DE acquired a new position in Casey’s General Stores during the 2nd quarter valued at about $281,872,000. Bank of New York Mellon Corp bought a new position in Casey’s General Stores in the 2nd quarter worth about $281,011,000. Finally, Norges Bank bought a new position in Casey’s General Stores in the 4th quarter worth about $265,163,000. 85.63% of the stock is currently owned by institutional investors.

Casey’s General Stores Stock Down 0.1%

Shares of Casey’s General Stores stock opened at $617.33 on Thursday. The business has a 50-day moving average price of $738.65 and a 200 day moving average price of $777.37. Casey’s General Stores has a fifty-two week low of $497.38 and a fifty-two week high of $927.85. The firm has a market cap of $22.82 billion, a P/E ratio of 29.74, a P/E/G ratio of 2.01 and a beta of 0.59. The company has a quick ratio of 0.61, a current ratio of 1.02 and a debt-to-equity ratio of 0.57.

Casey’s General Stores (NASDAQ:CASY) last issued its earnings results on Tuesday, September 8th. The company reported $7.37 EPS for the quarter, topping the consensus estimate of $6.78 by $0.59. The company had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.56 billion. Casey’s General Stores had a return on equity of 19.68% and a net margin of 4.14%.The business’s revenue was up 24.3% on a year-over-year basis. During the same quarter last year, the firm earned $5.77 EPS. On average, sell-side analysts forecast that Casey’s General Stores will post 21.43 earnings per share for the current fiscal year.

Casey’s General Stores Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Sunday, November 1st will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Friday, October 30th. Casey’s General Stores’s payout ratio is presently 12.52%.

About Casey’s General Stores

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.