Casey’s General Stores (NASDAQ:CASY) Research Coverage Started at KeyCorp

KeyCorp assumed coverage on shares of Casey’s General Stores (NASDAQ:CASY) in a report published on Friday, Marketbeat reports. The brokerage issued an overweight rating and a $500.00 price target on the stock.

Several other equities research analysts have also recently weighed in on the company. Stephens raised Casey’s General Stores to a “strong-buy” rating in a research note on Monday, April 7th. BMO Capital Markets reiterated a “market perform” rating and issued a $450.00 price target (up from $400.00) on shares of Casey’s General Stores in a research note on Wednesday, December 18th. StockNews.com cut shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Evercore ISI upped their price objective on shares of Casey’s General Stores from $450.00 to $460.00 and gave the stock an “outperform” rating in a report on Tuesday, April 1st. Finally, Gordon Haskett upgraded shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $430.33.

Casey’s General Stores Stock Up 4.4 %

Shares of NASDAQ CASY opened at $457.25 on Friday. The firm has a fifty day simple moving average of $418.43 and a two-hundred day simple moving average of $407.99. Casey’s General Stores has a 12 month low of $306.69 and a 12 month high of $459.46. The company has a current ratio of 0.88, a quick ratio of 0.49 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $16.97 billion, a PE ratio of 31.86, a price-to-earnings-growth ratio of 2.40 and a beta of 0.74.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Tuesday, March 11th. The company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.76 by $0.57. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The business had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.74 billion. During the same period last year, the business posted $2.33 earnings per share. Casey’s General Stores’s quarterly revenue was up 17.2% compared to the same quarter last year. Equities analysts expect that Casey’s General Stores will post 13.94 earnings per share for the current year.

Casey’s General Stores Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Thursday, May 1st. Casey’s General Stores’s dividend payout ratio is presently 13.94%.

Insiders Place Their Bets

In related news, Director Mike Spanos bought 256 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average cost of $390.54 per share, with a total value of $99,978.24. Following the completion of the purchase, the director now owns 3,356 shares of the company’s stock, valued at approximately $1,310,652.24. The trade was a 8.26 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Katrina S. Lindsey sold 250 shares of the stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $437.01, for a total transaction of $109,252.50. Following the transaction, the insider now directly owns 2,443 shares of the company’s stock, valued at $1,067,615.43. This trade represents a 9.28 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.56% of the company’s stock.

Hedge Funds Weigh In On Casey’s General Stores

Several institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd bought a new position in Casey’s General Stores during the third quarter valued at $397,000. MML Investors Services LLC lifted its holdings in shares of Casey’s General Stores by 14.3% in the 3rd quarter. MML Investors Services LLC now owns 4,176 shares of the company’s stock valued at $1,569,000 after acquiring an additional 522 shares during the last quarter. Barclays PLC grew its position in Casey’s General Stores by 110.5% in the third quarter. Barclays PLC now owns 22,487 shares of the company’s stock worth $8,450,000 after acquiring an additional 11,802 shares in the last quarter. Geode Capital Management LLC increased its stake in Casey’s General Stores by 1.3% during the third quarter. Geode Capital Management LLC now owns 655,488 shares of the company’s stock worth $246,335,000 after acquiring an additional 8,428 shares during the last quarter. Finally, Coldstream Capital Management Inc. raised its position in Casey’s General Stores by 7.4% during the third quarter. Coldstream Capital Management Inc. now owns 1,061 shares of the company’s stock valued at $401,000 after purchasing an additional 73 shares during the period. Hedge funds and other institutional investors own 85.63% of the company’s stock.

About Casey’s General Stores

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.