Casey’s General Stores (NASDAQ:CASY) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Casey’s General Stores (NASDAQ:CASY) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

Several other research analysts also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Casey’s General Stores from $451.00 to $454.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Evercore ISI raised their target price on Casey’s General Stores from $460.00 to $470.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. BMO Capital Markets reissued a “market perform” rating and issued a $450.00 price objective (up from $400.00) on shares of Casey’s General Stores in a research note on Wednesday, December 18th. Royal Bank of Canada raised their price objective on Casey’s General Stores from $403.00 to $428.00 and gave the company a “sector perform” rating in a report on Tuesday, December 10th. Finally, Gordon Haskett raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Casey’s General Stores has an average rating of “Moderate Buy” and an average target price of $424.00.

Casey’s General Stores Stock Performance

NASDAQ CASY opened at $409.09 on Thursday. The stock has a market capitalization of $15.18 billion, a price-to-earnings ratio of 28.51, a PEG ratio of 2.40 and a beta of 0.83. Casey’s General Stores has a twelve month low of $290.00 and a twelve month high of $445.17. The stock has a 50-day moving average of $410.14 and a 200 day moving average of $397.87. The company has a current ratio of 0.88, a quick ratio of 0.49 and a debt-to-equity ratio of 0.74.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Monday, December 9th. The company reported $4.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.29 by $0.56. The firm had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $4.03 billion. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $4.24 EPS. Sell-side analysts anticipate that Casey’s General Stores will post 13.94 EPS for the current fiscal 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 dividend of $0.50 per share. The ex-dividend date was Monday, February 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.49%. Casey’s General Stores’s dividend payout ratio is currently 13.94%.

Insider Activity at Casey’s General Stores

In related news, insider Katrina S. Lindsey sold 450 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $427.13, for a total transaction of $192,208.50. Following the completion of the sale, the insider now directly owns 2,247 shares of the company’s stock, valued at approximately $959,761.11. This trade represents a 16.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mike Spanos acquired 500 shares of Casey’s General Stores stock in a transaction that occurred on Monday, December 23rd. The stock was bought at an average price of $396.76 per share, for a total transaction of $198,380.00. Following the completion of the acquisition, the director now owns 3,097 shares in the company, valued at $1,228,765.72. This trade represents a 19.25 % increase in their position. The disclosure for this purchase can be found here. 0.56% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Casey’s General Stores

A number of institutional investors have recently modified their holdings of CASY. Raymond James Financial Inc. purchased a new position in Casey’s General Stores during the 4th quarter valued at about $236,500,000. Norges Bank acquired a new position in shares of Casey’s General Stores in the fourth quarter valued at approximately $175,607,000. Wellington Management Group LLP grew its holdings in shares of Casey’s General Stores by 160.1% in the fourth quarter. Wellington Management Group LLP now owns 428,201 shares of the company’s stock valued at $169,666,000 after purchasing an additional 263,545 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Casey’s General Stores by 49.9% during the 3rd quarter. Franklin Resources Inc. now owns 524,237 shares of the company’s stock worth $204,861,000 after buying an additional 174,586 shares in the last quarter. Finally, Benjamin Edwards Inc. boosted its position in Casey’s General Stores by 1,819.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 130,291 shares of the company’s stock valued at $48,959,000 after buying an additional 123,502 shares during the period. 85.63% of the stock is owned by institutional investors and hedge funds.

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.