Casey’s General Stores (NASDAQ:CASY) Receives Market Perform Rating from BMO Capital Markets

BMO Capital Markets reaffirmed their market perform rating on shares of Casey’s General Stores (NASDAQ:CASY) in a research report sent to investors on Wednesday, Marketbeat.com reports. They currently have a $450.00 price target on the stock, up from their prior price target of $400.00.

Several other analysts also recently issued reports on CASY. Evercore ISI boosted their target price on shares of Casey’s General Stores from $460.00 to $470.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Gordon Haskett assumed coverage on Casey’s General Stores in a research report on Monday, November 4th. They set a “hold” rating and a $400.00 price target on the stock. Wells Fargo & Company increased their price objective on Casey’s General Stores from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Melius Research started coverage on Casey’s General Stores in a research note on Monday, September 23rd. They set a “buy” rating and a $435.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Casey’s General Stores from $451.00 to $454.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $424.00.

Casey’s General Stores Trading Up 0.1 %

CASY traded up $0.25 during trading on Wednesday, reaching $406.41. The company had a trading volume of 30,089 shares, compared to its average volume of 265,275. The firm’s 50-day simple moving average is $407.19 and its 200 day simple moving average is $383.58. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.44 and a current ratio of 0.88. The company has a market cap of $15.09 billion, a price-to-earnings ratio of 28.32 and a beta of 0.80. Casey’s General Stores has a 12-month low of $268.07 and a 12-month high of $439.68.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Monday, December 9th. The company reported $4.85 EPS for the quarter, topping the consensus estimate of $4.29 by $0.56. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same period last year, the company posted $4.24 earnings per share. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. Equities research analysts anticipate that Casey’s General Stores will post 14.28 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 17th. Investors of record on Monday, February 3rd will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Monday, February 3rd. Casey’s General Stores’s payout ratio is presently 13.94%.

Insiders Place Their Bets

In other news, insider Katrina S. Lindsey sold 450 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $427.13, for a total transaction of $192,208.50. Following the transaction, the insider now owns 2,247 shares of the company’s stock, valued at approximately $959,761.11. This represents a 16.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On Casey’s General Stores

Several institutional investors and hedge funds have recently added to or reduced their stakes in CASY. Innealta Capital LLC acquired a new position in Casey’s General Stores during the second quarter valued at approximately $32,000. Venturi Wealth Management LLC boosted its holdings in shares of Casey’s General Stores by 941.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 125 shares of the company’s stock worth $47,000 after buying an additional 113 shares during the period. V Square Quantitative Management LLC grew its stake in Casey’s General Stores by 22.5% in the 3rd quarter. V Square Quantitative Management LLC now owns 158 shares of the company’s stock valued at $59,000 after buying an additional 29 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Casey’s General Stores in the 2nd quarter worth $68,000. Finally, Quarry LP acquired a new position in Casey’s General Stores during the 2nd quarter worth $72,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.

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. 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.