The Casey’s General Stores Inc. (CASY) Receives $136.33 Average Price Target from Analysts

The Casey’s General Stores Inc. (CASY) Receives $136.33 Average Price Target from Analysts

Casey’s General Stores Inc. (NASDAQ:CASY) has been given a consensus recommendation of “Buy” by the eleven research firms that are covering the firm. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $136.33.

Several equities research analysts have commented on CASY shares. RBC Capital Markets reiterated an “outperform” rating and set a $145.00 price objective (up from $139.00) on shares of Casey’s General Stores in a research note on Saturday, September 3rd. Deutsche Bank AG boosted their price objective on Casey’s General Stores from $130.00 to $141.00 and gave the stock a “buy” rating in a research note on Friday, August 19th. Wells Fargo & Co. reiterated a “hold” rating on shares of Casey’s General Stores in a research note on Thursday, September 8th. Barclays PLC started coverage on Casey’s General Stores in a research note on Thursday, September 22nd. They set an “equal weight” rating and a $116.00 price objective for the company. Finally, Jefferies Group set a $137.00 price objective on Casey’s General Stores and gave the stock a “hold” rating in a research note on Wednesday, September 7th.

Shares of Casey’s General Stores (NASDAQ:CASY) opened at 117.15 on Tuesday. The company’s 50 day moving average price is $121.60 and its 200-day moving average price is $121.81. Casey’s General Stores has a 52 week low of $98.80 and a 52 week high of $136.22. The company has a market capitalization of $4.59 billion, a price-to-earnings ratio of 19.99 and a beta of 0.51.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Tuesday, September 6th. The company reported $1.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.81 by $0.11. Casey’s General Stores had a return on equity of 21.62% and a net margin of 3.29%. The firm had revenue of $1.97 billion for the quarter. During the same period in the prior year, the business posted $1.57 EPS. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. Analysts anticipate that Casey’s General Stores will post $5.66 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 1st will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Friday, October 28th. Casey’s General Stores’s dividend payout ratio (DPR) is presently 16.38%.

In related news, Director Richard A. Wilkey acquired 340 shares of the firm’s stock in a transaction dated Wednesday, September 21st. The stock was acquired at an average cost of $117.80 per share, for a total transaction of $40,052.00. Following the completion of the acquisition, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $1,767,000. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.30% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Glenmede Trust Co. NA boosted its position in Casey’s General Stores by 24.2% in the first quarter. Glenmede Trust Co. NA now owns 5,007 shares of the company’s stock valued at $567,000 after buying an additional 974 shares during the period. IFP Advisors Inc boosted its position in Casey’s General Stores by 179.3% in the first quarter. IFP Advisors Inc now owns 1,271 shares of the company’s stock valued at $144,000 after buying an additional 816 shares during the period. CIBC World Markets Inc. boosted its position in Casey’s General Stores by 94.4% in the first quarter. CIBC World Markets Inc. now owns 3,412 shares of the company’s stock valued at $387,000 after buying an additional 1,657 shares during the period. Ngam Advisors L.P. bought a new position in Casey’s General Stores during the first quarter valued at about $1,648,000. Finally, Prudential Financial Inc. boosted its position in Casey’s General Stores by 1.5% in the first quarter. Prudential Financial Inc. now owns 96,198 shares of the company’s stock valued at $10,901,000 after buying an additional 1,400 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

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