Casey’s General Stores (NASDAQ:CASY) Given New $428.00 Price Target at Royal Bank of Canada

Casey’s General Stores (NASDAQ:CASY) had its target price boosted by Royal Bank of Canada from $403.00 to $428.00 in a research report report published on Tuesday morning,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Several other brokerages have also issued reports on CASY. JPMorgan Chase & Co. lowered shares of Casey’s General Stores from a “neutral” rating to an “underweight” rating and raised their price target for the stock from $300.00 to $337.00 in a research note on Thursday, September 19th. Gordon Haskett began coverage on Casey’s General Stores in a research note on Monday, November 4th. They issued a “hold” rating and a $400.00 target price on the stock. Wells Fargo & Company increased their price target on Casey’s General Stores from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Melius Research began coverage on Casey’s General Stores in a research note on Monday, September 23rd. They issued a “buy” rating and a $435.00 price objective on the stock. Finally, Benchmark reiterated a “buy” rating and set a $410.00 target price on shares of Casey’s General Stores in a research report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Casey’s General Stores currently has a consensus rating of “Moderate Buy” and an average target price of $410.33.

Casey’s General Stores Stock Performance

Shares of CASY opened at $416.86 on Tuesday. The stock has a 50 day moving average of $401.61 and a 200 day moving average of $380.19. The company has a market capitalization of $15.47 billion, a price-to-earnings ratio of 30.34 and a beta of 0.80. Casey’s General Stores has a 12 month low of $266.56 and a 12 month high of $435.60. The company has a current ratio of 0.84, a quick ratio of 0.44 and a debt-to-equity ratio of 0.44.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Monday, December 9th. The company reported $4.85 EPS for the quarter, topping analysts’ consensus estimates of $4.29 by $0.56. The company had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $4.03 billion. Casey’s General Stores had a return on equity of 17.07% and a net margin of 3.40%. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $4.24 EPS. As a group, sell-side analysts forecast that Casey’s General Stores will post 14.22 earnings per share for the current year.

Casey’s General Stores Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 17th. Shareholders of record on Monday, February 3rd will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.48%. The ex-dividend date is Monday, February 3rd. Casey’s General Stores’s dividend payout ratio is presently 14.56%.

Insider Buying and Selling at Casey’s General Stores

In other Casey’s General Stores news, Director Mike Spanos acquired 267 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were bought at an average price of $376.18 per share, for a total transaction of $100,440.06. Following the completion of the transaction, the director now owns 2,594 shares of the company’s stock, valued at approximately $975,810.92. This represents a 11.47 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.56% of the company’s stock.

Hedge Funds Weigh In On Casey’s General Stores

Institutional investors have recently added to or reduced their stakes in the business. Innealta Capital LLC bought a new stake in shares of Casey’s General Stores during the 2nd quarter valued at about $32,000. Venturi Wealth Management LLC lifted its position in Casey’s General Stores by 941.7% during the third quarter. Venturi Wealth Management LLC now owns 125 shares of the company’s stock valued at $47,000 after purchasing an additional 113 shares during the last quarter. V Square Quantitative Management LLC grew its stake in Casey’s General Stores by 22.5% in the 3rd quarter. V Square Quantitative Management LLC now owns 158 shares of the company’s stock worth $59,000 after buying an additional 29 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Casey’s General Stores during the 2nd quarter valued at $68,000. Finally, Quarry LP bought a new stake in shares of Casey’s General Stores during the 2nd quarter worth $72,000. 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.