Analysts Set Casey’s General Stores, Inc. (NASDAQ:CASY) Target Price at $698.20

Shares of Casey’s General Stores, Inc. (NASDAQ:CASY) have received an average recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the stock, MarketBeat reports. Six analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $698.20.

CASY has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft set a $688.00 price target on Casey’s General Stores in a report on Thursday, January 8th. Northcoast Research lowered Casey’s General Stores from a “buy” rating to a “neutral” rating in a report on Wednesday, January 21st. Royal Bank Of Canada upped their price objective on Casey’s General Stores from $662.00 to $713.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 10th. The Goldman Sachs Group increased their target price on Casey’s General Stores from $530.00 to $605.00 and gave the company a “neutral” rating in a report on Wednesday, March 11th. Finally, Stephens reissued an “overweight” rating and issued a $680.00 target price on shares of Casey’s General Stores in a research report on Tuesday, March 10th.

Casey’s General Stores Stock Down 0.7%

CASY opened at $665.16 on Friday. The stock has a market capitalization of $24.58 billion, a price-to-earnings ratio of 38.18, a PEG ratio of 2.21 and a beta of 0.65. The firm has a 50 day moving average price of $651.99 and a 200-day moving average price of $584.64. Casey’s General Stores has a twelve month low of $391.55 and a twelve month high of $696.66. The company has a quick ratio of 0.64, a current ratio of 1.04 and a debt-to-equity ratio of 0.61.

Casey’s General Stores (NASDAQ:CASY) last issued its earnings results on Monday, March 9th. The company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.94 by $0.55. Casey’s General Stores had a net margin of 3.83% and a return on equity of 17.56%. The company had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter last year, the company posted $2.33 earnings per share. The firm’s quarterly revenue was up .3% on a year-over-year basis. Equities research analysts forecast that Casey’s General Stores will post 13.94 earnings per share for the current year.

Casey’s General Stores Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 1st will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, May 1st. Casey’s General Stores’s dividend payout ratio is 13.09%.

Insider Buying and Selling

In other Casey’s General Stores news, insider Katrina S. Lindsey sold 200 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $683.04, for a total transaction of $136,608.00. Following the completion of the sale, the insider directly owned 4,039 shares of the company’s stock, valued at approximately $2,758,798.56. This represents a 4.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mike Spanos purchased 300 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was acquired at an average price of $665.43 per share, for a total transaction of $199,629.00. Following the completion of the transaction, the director directly owned 4,499 shares of the company’s stock, valued at approximately $2,993,769.57. This trade represents a 7.14% increase in their position. The SEC filing for this purchase provides additional information. 0.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Casey’s General Stores

Several hedge funds and other institutional investors have recently modified their holdings of CASY. Cannon Global Investment Management LLC purchased a new stake in Casey’s General Stores in the 3rd quarter worth approximately $1,018,000. Advisors Capital Management LLC lifted its holdings in Casey’s General Stores by 4.4% during the third quarter. Advisors Capital Management LLC now owns 48,355 shares of the company’s stock valued at $27,336,000 after purchasing an additional 2,026 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in Casey’s General Stores by 1.0% during the third quarter. Thrivent Financial for Lutherans now owns 191,156 shares of the company’s stock valued at $108,065,000 after purchasing an additional 1,950 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Casey’s General Stores by 0.3% in the second quarter. Franklin Resources Inc. now owns 708,893 shares of the company’s stock worth $361,727,000 after purchasing an additional 2,467 shares during the period. Finally, AE Wealth Management LLC boosted its position in shares of Casey’s General Stores by 82.3% in the third quarter. AE Wealth Management LLC now owns 2,574 shares of the company’s stock worth $1,456,000 after purchasing an additional 1,162 shares during the period. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

About Casey’s General Stores

Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.