Deutsche Bank Aktiengesellschaft Increases Casey’s General Stores (NASDAQ:CASY) Price Target to $444.00

Casey’s General Stores (NASDAQ:CASY) had its price objective raised by Deutsche Bank Aktiengesellschaft from $420.00 to $444.00 in a research report sent to investors on Monday, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Northcoast Research upgraded Casey’s General Stores from a neutral rating to a buy rating and set a $410.00 target price for the company in a report on Thursday, July 11th. Jefferies Financial Group boosted their price objective on Casey’s General Stores from $342.00 to $445.00 and gave the company a buy rating in a report on Wednesday, June 12th. Evercore ISI boosted their price objective on Casey’s General Stores from $405.00 to $410.00 and gave the company an outperform rating in a report on Tuesday, July 16th. StockNews.com downgraded Casey’s General Stores from a strong-buy rating to a buy rating in a report on Wednesday, July 24th. Finally, Royal Bank of Canada restated a sector perform rating and set a $393.00 price objective on shares of Casey’s General Stores in a report on Monday. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Casey’s General Stores presently has an average rating of Moderate Buy and an average price target of $410.22.

Casey’s General Stores Trading Down 1.2 %

Shares of CASY stock opened at $383.10 on Monday. The company has a market cap of $14.22 billion, a P/E ratio of 28.53, a PEG ratio of 2.82 and a beta of 0.80. The stock has a 50 day simple moving average of $364.96 and a two-hundred day simple moving average of $326.10. 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 has a fifty-two week low of $238.44 and a fifty-two week high of $401.07.

Casey’s General Stores (NASDAQ:CASY) last issued its earnings results on Tuesday, June 11th. The company reported $2.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.64. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.47 billion. Casey’s General Stores had a return on equity of 17.25% and a net margin of 3.38%. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.49 earnings per share. Research analysts forecast that Casey’s General Stores will post 14.12 earnings per share for the current year.

Casey’s General Stores Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be given a dividend of $0.50 per share. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, August 1st. This represents a $2.00 annualized dividend and a dividend yield of 0.52%. Casey’s General Stores’s payout ratio is presently 12.81%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Park Place Capital Corp purchased a new position in shares of Casey’s General Stores during the second quarter valued at approximately $31,000. Innealta Capital LLC purchased a new position in shares of Casey’s General Stores during the second quarter valued at approximately $32,000. Rise Advisors LLC purchased a new position in Casey’s General Stores in the first quarter worth $30,000. Advisors Asset Management Inc. purchased a new position in Casey’s General Stores in the first quarter worth $32,000. Finally, Bank & Trust Co purchased a new position in Casey’s General Stores in the second quarter worth $40,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.

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.