Casey’s General Stores, Inc. (NASDAQ:CASY) Plans Quarterly Dividend of $0.43

Casey’s General Stores, Inc. (NASDAQ:CASY) declared a quarterly dividend on Thursday, March 7th, Zacks reports. Stockholders of record on Wednesday, May 1st will be given a dividend of 0.43 per share on Wednesday, May 15th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Tuesday, April 30th.

Casey’s General Stores has raised its dividend payment by an average of 8.2% annually over the last three years and has raised its dividend annually for the last 23 consecutive years. Casey’s General Stores has a payout ratio of 11.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Casey’s General Stores to earn $14.15 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 12.2%.

Casey’s General Stores Price Performance

CASY stock opened at $320.03 on Friday. The firm has a 50 day moving average of $307.99 and a 200-day moving average of $287.68. The company has a current ratio of 0.89, a quick ratio of 0.42 and a debt-to-equity ratio of 0.54. Casey’s General Stores has a 12 month low of $212.50 and a 12 month high of $324.40. The firm has a market capitalization of $11.85 billion, a P/E ratio of 25.44, a price-to-earnings-growth ratio of 2.55 and a beta of 0.83.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Tuesday, March 12th. The company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.13. Casey’s General Stores had a net margin of 3.23% and a return on equity of 16.70%. The company had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same period last year, the business earned $2.36 earnings per share. Casey’s General Stores’s revenue was down .1% compared to the same quarter last year. As a group, sell-side analysts predict that Casey’s General Stores will post 12.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CASY has been the subject of several research analyst reports. Wells Fargo & Company lifted their target price on shares of Casey’s General Stores from $305.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Benchmark reiterated a “buy” rating and set a $312.00 target price on shares of Casey’s General Stores in a research report on Wednesday, March 6th. BMO Capital Markets lifted their target price on shares of Casey’s General Stores from $290.00 to $305.00 and gave the company a “market perform” rating in a research report on Wednesday, March 13th. StockNews.com lowered shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 21st. Finally, Evercore ISI dropped their target price on shares of Casey’s General Stores from $350.00 to $345.00 and set an “outperform” rating for the company in a research report on Tuesday, April 16th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $312.63.

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.