Casey’s General Stores (NASDAQ:CASY) Price Target Raised to $460.00

Casey’s General Stores (NASDAQ:CASY) had its target price boosted by Evercore ISI from $450.00 to $460.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

CASY has been the topic of several other research reports. Royal Bank of Canada set a $438.00 target price on shares of Casey’s General Stores and gave the stock a “sector perform” rating in a report on Wednesday, March 12th. StockNews.com cut shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Gordon Haskett raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $450.00 target price (up from $400.00) on shares of Casey’s General Stores in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Casey’s General Stores presently has an average rating of “Moderate Buy” and an average target price of $424.00.

Casey’s General Stores Stock Up 1.5 %

NASDAQ CASY opened at $440.63 on Tuesday. Casey’s General Stores has a 1-year low of $306.45 and a 1-year high of $445.17. The company has a market capitalization of $16.36 billion, a price-to-earnings ratio of 30.71, a PEG ratio of 2.40 and a beta of 0.87. The stock’s 50 day moving average is $414.96 and its two-hundred day moving average is $403.98. The company has a current ratio of 0.88, a quick ratio of 0.49 and a debt-to-equity ratio of 0.74.

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

Casey’s General Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.45%. The ex-dividend date is Thursday, May 1st. Casey’s General Stores’s dividend payout ratio (DPR) is presently 13.94%.

Insiders Place Their Bets

In other news, Director Mike Spanos bought 256 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was bought at an average price of $390.54 per share, for a total transaction of $99,978.24. Following the completion of the transaction, the director now directly owns 3,356 shares in the company, valued at $1,310,652.24. The trade was a 8.26 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.56% of the company’s stock.

Institutional Trading of Casey’s General Stores

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. YANKCOM Partnership acquired a new position in Casey’s General Stores during the 4th quarter valued at about $34,000. Endeavor Private Wealth Inc. bought a new stake in shares of Casey’s General Stores during the fourth quarter worth approximately $36,000. MassMutual Private Wealth & Trust FSB lifted its holdings in Casey’s General Stores by 24.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 149 shares of the company’s stock valued at $59,000 after buying an additional 29 shares during the period. Heck Capital Advisors LLC bought a new position in Casey’s General Stores in the fourth quarter valued at approximately $79,000. Finally, V Square Quantitative Management LLC boosted its stake in Casey’s General Stores by 32.9% in the fourth quarter. V Square Quantitative Management LLC now owns 210 shares of the company’s stock valued at $83,000 after acquiring an additional 52 shares during the last quarter. 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.