Evercore ISI Cuts Casey’s General Stores (NASDAQ:CASY) Price Target to $345.00

Casey’s General Stores (NASDAQ:CASY) had its target price decreased by Evercore ISI from $350.00 to $345.00 in a research note published on Tuesday, Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

Several other brokerages have also recently issued reports on CASY. BMO Capital Markets raised their price objective on Casey’s General Stores from $290.00 to $305.00 and gave the stock a market perform rating in a research note on Wednesday, March 13th. Wells Fargo & Company increased their target price on Casey’s General Stores from $305.00 to $340.00 and gave the stock an overweight rating in a research report on Tuesday, March 5th. Benchmark reaffirmed a buy rating and issued a $312.00 target price on shares of Casey’s General Stores in a research report on Wednesday, March 6th. Finally, StockNews.com lowered Casey’s General Stores from a strong-buy rating to a buy rating in a research report on Thursday, March 21st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $312.63.

Casey’s General Stores Stock Performance

Shares of CASY opened at $309.40 on Tuesday. The business’s fifty day moving average price is $304.37 and its 200 day moving average price is $285.78. Casey’s General Stores has a 12-month low of $212.50 and a 12-month high of $324.40. The stock has a market capitalization of $11.45 billion, a PE ratio of 24.59, a price-to-earnings-growth ratio of 2.50 and a beta of 0.83. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.89 and a quick ratio of 0.42.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Tuesday, March 12th. The company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.13. Casey’s General Stores had a return on equity of 16.70% and a net margin of 3.23%. The firm had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.51 billion. During the same period last year, the business posted $2.36 earnings per share. The firm’s revenue for the quarter was down .1% on a year-over-year basis. Equities research analysts forecast that Casey’s General Stores will post 12.81 EPS for the current year.

Casey’s General Stores Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Tuesday, April 30th. Casey’s General Stores’s dividend payout ratio (DPR) is 13.67%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CASY. Cetera Advisor Networks LLC grew its holdings in Casey’s General Stores by 1.2% during the fourth quarter. Cetera Advisor Networks LLC now owns 3,014 shares of the company’s stock worth $828,000 after acquiring an additional 37 shares during the period. LexAurum Advisors LLC grew its holdings in Casey’s General Stores by 3.1% during the fourth quarter. LexAurum Advisors LLC now owns 1,317 shares of the company’s stock worth $362,000 after acquiring an additional 40 shares during the period. AdvisorShares Investments LLC grew its holdings in Casey’s General Stores by 9.3% during the fourth quarter. AdvisorShares Investments LLC now owns 469 shares of the company’s stock worth $129,000 after acquiring an additional 40 shares during the period. GAMMA Investing LLC grew its holdings in Casey’s General Stores by 12.8% during the first quarter. GAMMA Investing LLC now owns 353 shares of the company’s stock worth $112,000 after acquiring an additional 40 shares during the period. Finally, Sunbelt Securities Inc. grew its holdings in Casey’s General Stores by 46.6% during the second quarter. Sunbelt Securities Inc. now owns 129 shares of the company’s stock worth $31,000 after acquiring an additional 41 shares during the period. 85.63% of the stock is owned by institutional investors and hedge funds.

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.