Analysts Set Casey’s General Stores, Inc. (NASDAQ:CASY) Price Target at $380.11

Shares of Casey’s General Stores, Inc. (NASDAQ:CASY) have been given an average rating of “Moderate Buy” by the ten ratings firms that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $380.11.

A number of equities research analysts recently commented on CASY shares. BMO Capital Markets increased their price target on Casey’s General Stores from $305.00 to $400.00 and gave the stock a “market perform” rating in a research report on Thursday, June 13th. Royal Bank of Canada lifted their price target on Casey’s General Stores from $322.00 to $361.00 and gave the company a “sector perform” rating in a report on Wednesday, June 12th. StockNews.com lowered shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 20th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Casey’s General Stores from $375.00 to $420.00 and gave the stock a “buy” rating in a research note on Thursday, June 13th. Finally, Evercore ISI reduced their target price on shares of Casey’s General Stores from $350.00 to $345.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 16th.

Institutional Investors Weigh In On Casey’s General Stores

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BKM Wealth Management LLC acquired a new position in shares of Casey’s General Stores during the 4th quarter worth about $29,000. Rise Advisors LLC acquired a new position in Casey’s General Stores during the first quarter valued at approximately $30,000. Advisors Asset Management Inc. bought a new stake in Casey’s General Stores in the first quarter valued at approximately $32,000. V Square Quantitative Management LLC acquired a new stake in Casey’s General Stores in the fourth quarter worth $35,000. Finally, McGlone Suttner Wealth Management Inc. bought a new position in shares of Casey’s General Stores during the fourth quarter worth $36,000. Institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Trading Down 0.3 %

Shares of CASY stock opened at $381.56 on Friday. The firm has a fifty day moving average of $341.24 and a 200-day moving average of $309.91. The stock has a market cap of $14.16 billion, a price-to-earnings ratio of 28.41, a P/E/G ratio of 2.76 and a beta of 0.83. Casey’s General Stores has a 52-week low of $234.88 and a 52-week high of $389.43. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.87.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Tuesday, June 11th. The company reported $2.34 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.64. Casey’s General Stores had a net margin of 3.38% and a return on equity of 17.25%. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter last year, the company earned $1.49 earnings per share. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities research analysts forecast that Casey’s General Stores will post 14.2 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.52%. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.43. Casey’s General Stores’s dividend payout ratio is 12.81%.

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.