Casey’s General Stores (NASDAQ:CASY) Price Target Raised to $425.00 at Wells Fargo & Company

Casey’s General Stores (NASDAQ:CASY) had its price objective lifted by Wells Fargo & Company from $415.00 to $425.00 in a report published on Friday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other equities research analysts have also commented on the stock. Royal Bank of Canada increased their price objective on shares of Casey’s General Stores from $393.00 to $403.00 and gave the company a sector perform rating in a research note on Thursday. Northcoast Research upgraded Casey’s General Stores from a neutral rating to a buy rating and set a $410.00 price objective for the company in a research note on Thursday, July 11th. Benchmark reiterated a buy rating and set a $410.00 target price on shares of Casey’s General Stores in a research note on Tuesday. Jefferies Financial Group increased their price target on shares of Casey’s General Stores from $342.00 to $445.00 and gave the company a buy rating in a research report on Wednesday, June 12th. Finally, StockNews.com downgraded shares of Casey’s General Stores from a strong-buy rating to a buy rating in a research report on Saturday, August 3rd. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $401.20.

Casey’s General Stores Stock Performance

Shares of Casey’s General Stores stock opened at $373.82 on Friday. Casey’s General Stores has a 52 week low of $238.44 and a 52 week high of $401.07. The company has a quick ratio of 0.42, a current ratio of 0.87 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average price of $373.57 and a 200-day moving average price of $342.17. The company has a market cap of $13.87 billion, a PE ratio of 27.83, a price-to-earnings-growth ratio of 2.52 and a beta of 0.80.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Wednesday, September 4th. The company reported $4.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.54 by $0.29. Casey’s General Stores had a net margin of 3.38% and a return on equity of 17.25%. The firm had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same period in the previous year, the firm earned $4.52 EPS. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. Equities analysts anticipate that Casey’s General Stores will post 14.06 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 15th. Shareholders of record on Friday, November 1st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $2.00 annualized dividend and a yield of 0.54%. Casey’s General Stores’s dividend payout ratio is currently 14.89%.

Institutional Investors Weigh In On Casey’s General Stores

Hedge funds and other institutional investors have recently modified their holdings of the stock. Park Place Capital Corp bought a new stake in Casey’s General Stores during the 2nd quarter worth approximately $31,000. Innealta Capital LLC bought a new position in shares of Casey’s General Stores in the second quarter worth $32,000. Rise Advisors LLC purchased a new stake in shares of Casey’s General Stores in the first quarter worth $30,000. Advisors Asset Management Inc. bought a new stake in Casey’s General Stores during the first quarter valued at $32,000. Finally, Bank & Trust Co bought a new position in Casey’s General Stores in the 2nd quarter worth about $40,000. 85.63% of the stock is currently owned by institutional investors.

About Casey’s General Stores

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.