Casey’s General Stores Inc (CASY) To Go Ex-Dividend on October 31st

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.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Monday, September 9th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.28. Casey’s General Stores had a net margin of 2.34% and a return on equity of 15.84%. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.59 billion. During the same period in the prior year, the company posted $1.90 EPS. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, equities research analysts predict that Casey’s General Stores will post 5.92 EPS for the current fiscal year.

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.

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Dividend History for Casey`s General Stores (NASDAQ:CASY)

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