Casey’s General Stores Inc (NASDAQ:CASY) announced a quarterly dividend on Monday, September 9th, Zacks reports. Stockholders of record on Friday, November 1st will be paid a dividend of 0.32 per share on Friday, November 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Thursday, October 31st.
Casey’s General Stores has increased its dividend by an average of 9.4% per year over the last three years and has increased its dividend every year for the last 16 years. Casey’s General Stores has a payout ratio of 27.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Casey’s General Stores to earn $6.27 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 20.4%.
Shares of NASDAQ:CASY traded down $3.38 during trading on Wednesday, hitting $166.58. 566,820 shares of the stock traded hands, compared to its average volume of 338,597. The company has a quick ratio of 0.23, a current ratio of 0.69 and a debt-to-equity ratio of 0.91. The company has a market cap of $6.15 billion, a price-to-earnings ratio of 30.23, a P/E/G ratio of 3.20 and a beta of 0.55. The company has a fifty day moving average price of $167.00 and a two-hundred day moving average price of $145.54. Casey’s General Stores has a 52-week low of $116.23 and a 52-week high of $173.31.
In related news, SVP Brian Joseph Johnson sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $156.48, for a total value of $625,920.00. Following the transaction, the senior vice president now directly owns 14,817 shares in the company, valued at $2,318,564.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director H Lynn Horak sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $154.55, for a total value of $463,650.00. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.
A number of research analysts recently weighed in on CASY shares. Zacks Investment Research lowered shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. Wells Fargo & Co reiterated a “market perform” rating and issued a $165.00 price objective (up previously from $145.00) on shares of Casey’s General Stores in a report on Wednesday. Barclays raised their target price on shares of Casey’s General Stores from $140.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Sidoti boosted their target price on Casey’s General Stores from $147.00 to $166.00 and gave the stock a “neutral” rating in a report on Tuesday, September 3rd. Finally, G.Research lowered Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $170.30.
Casey’s General Stores Company Profile
Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. The company's stores offer a selection of food, including freshly prepared foods, such as pizza, donuts, and sandwiches; beverage and tobacco products; health and beauty aids; automotive products; school supplies, housewares, and pet supplies; and other nonfood items.
Read More: What is Blockchain?
Receive News & Ratings for Casey's General Stores Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Casey's General Stores and related companies with MarketBeat.com's FREE daily email newsletter.