StockNews.com Lowers Casey’s General Stores (NASDAQ:CASY) to Buy

StockNews.com downgraded shares of Casey’s General Stores (NASDAQ:CASYFree Report) from a strong-buy rating to a buy rating in a report published on Thursday.

Other equities research analysts have also issued research reports about the company. Northcoast Research lowered Casey’s General Stores from a buy rating to a neutral rating in a research report on Wednesday, May 15th. Deutsche Bank Aktiengesellschaft upped their target price on Casey’s General Stores from $375.00 to $420.00 and gave the company a buy rating in a research report on Thursday, June 13th. Evercore ISI cut their target price on Casey’s General Stores from $350.00 to $345.00 and set an outperform rating on the stock in a research report on Tuesday, April 16th. Benchmark upped their target price on Casey’s General Stores from $350.00 to $410.00 and gave the company a buy rating in a research report on Thursday, June 13th. Finally, Royal Bank of Canada upped their target price on Casey’s General Stores from $322.00 to $361.00 and gave the company a sector perform rating in a research report on Wednesday, June 12th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $380.11.

Read Our Latest Report on CASY

Casey’s General Stores Price Performance

Casey’s General Stores stock opened at $371.77 on Thursday. The stock has a market capitalization of $13.76 billion, a P/E ratio of 27.68, a price-to-earnings-growth ratio of 2.67 and a beta of 0.83. Casey’s General Stores has a 52 week low of $221.36 and a 52 week high of $389.43. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.87. The stock has a fifty day moving average of $334.17 and a 200-day moving average of $306.10.

Casey’s General Stores (NASDAQ:CASYGet Free Report) last issued its quarterly earnings data on Tuesday, June 11th. The company reported $2.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.64. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.47 billion. Casey’s General Stores had a return on equity of 17.25% and a net margin of 3.38%. Casey’s General Stores’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.49 EPS. On average, sell-side analysts expect that Casey’s General Stores will post 14.18 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.54%. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, August 1st. Casey’s General Stores’s dividend payout ratio (DPR) is presently 12.81%.

Hedge Funds Weigh In On Casey’s General Stores

Several institutional investors and hedge funds have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale grew its holdings in Casey’s General Stores by 321.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 26,862 shares of the company’s stock valued at $8,531,000 after purchasing an additional 20,492 shares during the period. Cetera Advisors LLC boosted its holdings in shares of Casey’s General Stores by 130.0% in the first quarter. Cetera Advisors LLC now owns 5,830 shares of the company’s stock worth $1,857,000 after acquiring an additional 3,295 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Casey’s General Stores by 255.8% in the first quarter. Cetera Investment Advisers now owns 9,291 shares of the company’s stock worth $2,959,000 after acquiring an additional 6,680 shares during the period. Tidal Investments LLC bought a new position in shares of Casey’s General Stores in the first quarter worth $214,000. Finally, Motley Fool Asset Management LLC bought a new position in shares of Casey’s General Stores in the first quarter worth $246,000. 85.63% of the stock is owned by institutional investors.

About Casey’s General Stores

(Get Free Report)

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.

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Analyst Recommendations for Casey's General Stores (NASDAQ:CASY)

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