Analysts Set Casey’s General Stores, Inc. (NASDAQ:CASY) Price Target at $407.64

Shares of Casey’s General Stores, Inc. (NASDAQ:CASY) have been given a consensus rating of “Moderate Buy” by the eleven brokerages that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $407.64.

CASY has been the topic of several research reports. Evercore ISI upped their target price on Casey’s General Stores from $410.00 to $435.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Benchmark restated 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. Wells Fargo & Company raised their price target on Casey’s General Stores from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Friday, September 6th. JPMorgan Chase & Co. cut Casey’s General Stores from a “neutral” rating to an “underweight” rating and lifted their price objective for the stock from $300.00 to $337.00 in a research note on Thursday, September 19th. Finally, Melius Research assumed coverage on Casey’s General Stores in a report on Monday, September 23rd. They issued a “buy” rating and a $435.00 price target on the stock.

Insider Buying and Selling at Casey’s General Stores

In other news, CEO Darren M. Rebelez sold 13,500 shares of the company’s stock in a transaction 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. 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 the SEC website. In other news, Director Mike Spanos purchased 267 shares of Casey’s General Stores stock in a transaction that occurred on Wednesday, September 18th. The stock was bought at an average price of $376.18 per share, with a total value of $100,440.06. Following the completion of the transaction, the director now directly owns 2,594 shares of the company’s stock, valued at approximately $975,810.92. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Darren M. Rebelez sold 13,500 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $374.54, for a total transaction 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 $27,655,284.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

Institutional Trading of Casey’s General Stores

A number of institutional investors and hedge funds have recently bought and sold shares of CASY. Congress Asset Management Co. MA bought a new position in shares of Casey’s General Stores during the 1st quarter worth approximately $112,081,000. Point72 Asset Management L.P. boosted its holdings in Casey’s General Stores by 561.7% during the fourth quarter. Point72 Asset Management L.P. now owns 273,168 shares of the company’s stock worth $75,050,000 after buying an additional 231,887 shares in the last quarter. Millennium Management LLC lifted its holdings in Casey’s General Stores by 3,846.1% during the second quarter. Millennium Management LLC now owns 172,320 shares of the company’s stock valued at $65,750,000 after purchasing an additional 176,920 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Casey’s General Stores by 113.0% in the first quarter. Principal Financial Group Inc. now owns 291,838 shares of the company’s stock valued at $92,936,000 after buying an additional 154,803 shares during the last quarter. Finally, DAVENPORT & Co LLC increased its position in Casey’s General Stores by 11,242.6% during the first quarter. DAVENPORT & Co LLC now owns 107,641 shares of the company’s stock worth $34,284,000 after purchasing an additional 106,692 shares during the last quarter. 85.63% of the stock is currently owned by institutional investors.

Casey’s General Stores Stock Performance

CASY stock opened at $380.74 on Friday. The firm has a market cap of $14.13 billion, a P/E ratio of 28.35 and a beta of 0.80. The stock’s 50 day simple moving average is $372.65 and its 200 day simple moving average is $353.80. The company has a current ratio of 0.84, a quick ratio of 0.44 and a debt-to-equity ratio of 0.44. Casey’s General Stores has a 12-month low of $260.13 and a 12-month high of $401.07.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.54 by $0.29. The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.52 earnings per share. As a group, equities research analysts predict that Casey’s General Stores will post 14.01 EPS for the current year.

Casey’s General Stores Announces Dividend

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 paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $2.00 annualized dividend and a yield of 0.53%. Casey’s General Stores’s payout ratio is 14.89%.

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.