Casey’s General Stores (NASDAQ:CASY) Earns “Buy” Rating from Benchmark

Benchmark reiterated their buy rating on shares of Casey’s General Stores (NASDAQ:CASY) in a research report report published on Tuesday morning, Benzinga reports. They currently have a $410.00 price objective on the stock.

A number of other research firms have also weighed in on CASY. Wells Fargo & Company raised their price target on shares of Casey’s General Stores from $415.00 to $425.00 and gave the company an overweight rating in a report on Friday, September 6th. Deutsche Bank Aktiengesellschaft lifted their target price on Casey’s General Stores from $420.00 to $444.00 and gave the stock a buy rating in a research report on Monday, July 29th. Northcoast Research raised Casey’s General Stores from a neutral rating to a buy rating and set a $410.00 price target for the company in a report on Thursday, July 11th. BMO Capital Markets lifted their price objective on Casey’s General Stores from $305.00 to $400.00 and gave the stock a market perform rating in a report on Thursday, June 13th. Finally, Royal Bank of Canada increased their target price on Casey’s General Stores from $393.00 to $403.00 and gave the company a sector perform rating in a research note on Thursday, September 5th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $401.20.

Casey’s General Stores Trading Up 2.3 %

NASDAQ:CASY opened at $382.07 on Tuesday. The business’s 50-day moving average is $373.69 and its two-hundred day moving average is $344.44. The firm has a market capitalization of $14.18 billion, a PE ratio of 28.45, a price-to-earnings-growth ratio of 2.71 and a beta of 0.80. Casey’s General Stores has a 12 month low of $260.13 and a 12 month high of $401.07. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.84 and a quick ratio of 0.44.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, beating the consensus estimate of $4.54 by $0.29. The business had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.15 billion. Casey’s General Stores had a return on equity of 17.07% and a net margin of 3.40%. The company’s revenue was up 5.9% on a year-over-year basis. During the same period last year, the business posted $4.52 EPS. Research analysts predict that Casey’s General Stores will post 13.45 earnings per share for the current fiscal year.

Casey’s General Stores Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $2.00 annualized dividend and a yield of 0.52%. Casey’s General Stores’s payout ratio is 14.89%.

Insiders Place Their Bets

In other news, CEO Darren M. Rebelez sold 13,500 shares of Casey’s General Stores stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $374.54, for a total value of $5,056,290.00. Following the completion of the transaction, the chief executive officer now directly owns 73,838 shares of the company’s stock, valued at approximately $27,655,284.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $380.24, for a total value of $1,140,720.00. Following the sale, the insider now owns 9,044 shares of the company’s stock, valued at approximately $3,438,890.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Darren M. Rebelez sold 13,500 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $374.54, for a total value of $5,056,290.00. Following the transaction, the chief executive officer now owns 73,838 shares of the company’s stock, valued at approximately $27,655,284.52. The disclosure for this sale can be found here. 0.47% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Casey’s General Stores

A number of hedge funds have recently added to or reduced their stakes in CASY. AdvisorNet Financial Inc increased its holdings in shares of Casey’s General Stores by 10.1% in the 2nd quarter. AdvisorNet Financial Inc now owns 317 shares of the company’s stock worth $121,000 after acquiring an additional 29 shares during the period. Oppenheimer & Co. Inc. grew its position in Casey’s General Stores by 0.3% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 12,769 shares of the company’s stock worth $4,872,000 after purchasing an additional 37 shares during the last quarter. AdvisorShares Investments LLC increased its stake in shares of Casey’s General Stores by 9.3% in the fourth quarter. AdvisorShares Investments LLC now owns 469 shares of the company’s stock valued at $129,000 after purchasing an additional 40 shares during the period. GAMMA Investing LLC raised its holdings in shares of Casey’s General Stores by 12.8% during the first quarter. GAMMA Investing LLC now owns 353 shares of the company’s stock valued at $112,000 after buying an additional 40 shares during the last quarter. Finally, Prairie Wealth Advisors Inc. boosted its position in shares of Casey’s General Stores by 0.9% during the second quarter. Prairie Wealth Advisors Inc. now owns 4,535 shares of the company’s stock worth $1,730,000 after buying an additional 40 shares during the period. 85.63% of the stock is currently owned by institutional investors.

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.