Casey’s General Stores (NASDAQ:CASY) Research Coverage Started at Gordon Haskett

Gordon Haskett initiated coverage on shares of Casey’s General Stores (NASDAQ:CASY) in a research report sent to investors on Monday, Marketbeat reports. The firm issued a hold rating and a $400.00 price objective on the stock.

A number of other brokerages have also recently issued reports on CASY. Benchmark reiterated a “buy” rating and set a $410.00 target price on shares of Casey’s General Stores in a research report on Tuesday, September 10th. JPMorgan Chase & Co. cut shares of Casey’s General Stores from a “neutral” rating to an “underweight” rating and lifted their target price for the company from $300.00 to $337.00 in a research note on Thursday, September 19th. Northcoast Research raised Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $410.00 target price on the stock in a report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft raised their price target on Casey’s General Stores from $420.00 to $444.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Royal Bank of Canada boosted their price objective on Casey’s General Stores from $393.00 to $403.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $408.25.

Casey’s General Stores Stock Up 3.1 %

Shares of CASY opened at $409.18 on Monday. The company has a quick ratio of 0.44, a current ratio of 0.84 and a debt-to-equity ratio of 0.44. The company has a 50-day moving average price of $379.15 and a two-hundred day moving average price of $364.67. The stock has a market cap of $15.19 billion, a price-to-earnings ratio of 29.87 and a beta of 0.79. Casey’s General Stores has a 12 month low of $266.56 and a 12 month high of $416.13.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, topping the consensus estimate of $4.54 by $0.29. Casey’s General Stores had a return on equity of 17.07% and a net margin of 3.40%. The business had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter last year, the company earned $4.52 EPS. Casey’s General Stores’s revenue was up 5.9% on a year-over-year basis. Equities analysts predict that Casey’s General Stores will post 14.01 EPS for the current fiscal year.

Casey’s General Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a $0.50 dividend. The ex-dividend date is Friday, November 1st. This represents a $2.00 dividend on an annualized basis and a yield of 0.49%. Casey’s General Stores’s payout ratio is 14.56%.

Insiders Place Their Bets

In other Casey’s General Stores news, Director Mike Spanos bought 267 shares of Casey’s General Stores stock in a transaction dated Wednesday, September 18th. The shares were bought at an average price of $376.18 per share, with a total value of $100,440.06. Following the purchase, the director now owns 2,594 shares of the company’s stock, valued at $975,810.92. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Darren M. Rebelez sold 13,500 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $374.54, for a total value of $5,056,290.00. Following the completion of the sale, the chief executive officer now owns 73,838 shares in the company, valued at approximately $27,655,284.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Mike Spanos bought 267 shares of Casey’s General Stores stock in a transaction on Wednesday, September 18th. The shares were bought at an average price of $376.18 per share, for a total transaction of $100,440.06. Following the acquisition, the director now owns 2,594 shares of the company’s stock, valued at approximately $975,810.92. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.56% of the company’s stock.

Institutional Trading of Casey’s General Stores

Institutional investors and hedge funds have recently modified their holdings of the stock. Park Place Capital Corp bought a new stake in Casey’s General Stores in the second quarter valued at approximately $31,000. Innealta Capital LLC acquired a new position in shares of Casey’s General Stores in the 2nd quarter valued at $32,000. Advisors Asset Management Inc. bought a new stake in shares of Casey’s General Stores in the 1st quarter valued at $32,000. Bank & Trust Co acquired a new stake in Casey’s General Stores during the 2nd quarter worth $40,000. Finally, Venturi Wealth Management LLC raised its stake in 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. 85.63% of the stock is owned by institutional investors.

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.