Analysts Set Casey’s General Stores, Inc. (NASDAQ:CASY) Target Price at $585.67

Casey’s General Stores, Inc. (NASDAQ:CASY) has been assigned a consensus recommendation of “Moderate Buy” from the twelve research firms that are covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $585.6667.

A number of analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Casey’s General Stores in a research report on Monday. UBS Group restated a “neutral” rating on shares of Casey’s General Stores in a report on Thursday, December 11th. Stephens boosted 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. Evercore ISI upped their target price on shares of Casey’s General Stores from $585.00 to $610.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 2nd. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $530.00 price target on shares of Casey’s General Stores in a research note on Wednesday, December 10th.

Casey’s General Stores Stock Down 1.6%

Shares of NASDAQ:CASY opened at $552.71 on Tuesday. The firm has a market capitalization of $20.49 billion, a PE ratio of 33.99 and a beta of 0.67. Casey’s General Stores has a 1 year low of $372.08 and a 1 year high of $575.98. 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’s 50-day moving average is $548.81 and its two-hundred day moving average is $534.59.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Tuesday, December 9th. The company reported $5.53 earnings per share for the quarter, topping the consensus estimate of $4.92 by $0.61. The firm had revenue of $4.51 billion for the quarter, compared to the consensus estimate of $4.51 billion. Casey’s General Stores had a net margin of 3.58% and a return on equity of 16.89%. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the prior year, the firm earned $4.85 EPS. Analysts predict that Casey’s General Stores will post 13.94 EPS for the current year.

Casey’s General Stores Dividend Announcement

The company also recently announced 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 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 presently 14.02%.

Institutional Trading of Casey’s General Stores

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Samlyn Capital LLC grew its holdings in Casey’s General Stores by 42.8% in the 1st quarter. Samlyn Capital LLC now owns 255,659 shares of the company’s stock valued at $110,966,000 after buying an additional 76,673 shares during the period. UNIVEST FINANCIAL Corp raised its stake in Casey’s General Stores by 157.2% during the second quarter. UNIVEST FINANCIAL Corp now owns 8,556 shares of the company’s stock worth $4,366,000 after purchasing an additional 5,230 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Casey’s General Stores by 0.3% in the 2nd quarter. Franklin Resources Inc. now owns 708,893 shares of the company’s stock valued at $361,727,000 after purchasing an additional 2,467 shares during the last quarter. West Bancorporation Inc. purchased a new stake in shares of Casey’s General Stores during the 2nd quarter valued at $278,000. Finally, Curi RMB Capital LLC grew its stake in shares of Casey’s General Stores by 15.8% during the 1st quarter. Curi RMB Capital LLC now owns 17,881 shares of the company’s stock valued at $7,761,000 after buying an additional 2,446 shares during the period. 85.63% of the stock is currently owned by institutional investors and hedge funds.

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.