KeyCorp Upgrades Casey’s General Stores (NASDAQ:CASY) to Strong-Buy

KeyCorp upgraded shares of Casey’s General Stores (NASDAQ:CASY) to a strong-buy rating in a research report released on Thursday morning,Zacks.com reports.

Several other analysts have also recently weighed in on the company. Gordon Haskett raised Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Evercore ISI lifted their target price on Casey’s General Stores from $450.00 to $460.00 and gave the stock an “outperform” rating in a report on Tuesday, April 1st. Stephens upgraded shares of Casey’s General Stores to a “strong-buy” rating in a research note on Monday, April 7th. Royal Bank of Canada set a $438.00 price target on shares of Casey’s General Stores and gave the stock a “sector perform” rating in a research report on Wednesday, March 12th. Finally, StockNews.com downgraded shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Casey’s General Stores has a consensus rating of “Moderate Buy” and a consensus target price of $430.33.

Casey’s General Stores Price Performance

Shares of CASY opened at $457.25 on Thursday. The company’s 50-day moving average is $418.43 and its 200-day moving average is $407.75. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.49. The firm has a market capitalization of $16.97 billion, a PE ratio of 31.86, a PEG ratio of 2.40 and a beta of 0.74. Casey’s General Stores has a fifty-two week low of $306.60 and a fifty-two week high of $459.46.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Tuesday, March 11th. The company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.57. The firm had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $3.74 billion. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The business’s revenue was up 17.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.33 EPS. Equities analysts forecast that Casey’s General Stores will post 13.94 EPS for the current year.

Casey’s General Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $2.00 dividend on an annualized basis and a yield of 0.44%. Casey’s General Stores’s dividend payout ratio (DPR) is 13.94%.

Insider Buying and Selling at Casey’s General Stores

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CASY. Sanctuary Advisors LLC raised its stake in shares of Casey’s General Stores by 55.6% during the fourth quarter. Sanctuary Advisors LLC now owns 8,579 shares of the company’s stock valued at $3,629,000 after acquiring an additional 3,065 shares during the last quarter. Scholtz & Company LLC acquired a new stake in Casey’s General Stores during the 4th quarter valued at approximately $2,375,000. JLB & Associates Inc. lifted its position in shares of Casey’s General Stores by 1.8% in the 4th quarter. JLB & Associates Inc. now owns 43,029 shares of the company’s stock worth $17,049,000 after purchasing an additional 749 shares during the period. Segall Bryant & Hamill LLC increased its position in shares of Casey’s General Stores by 9.1% during the fourth quarter. Segall Bryant & Hamill LLC now owns 53,330 shares of the company’s stock worth $21,131,000 after buying an additional 4,458 shares during the period. Finally, South Dakota Investment Council lifted its holdings in Casey’s General Stores by 28.0% in the fourth quarter. South Dakota Investment Council now owns 10,065 shares of the company’s stock valued at $3,988,000 after buying an additional 2,200 shares during the period. 85.63% of the stock is currently owned by institutional investors and hedge funds.

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.