Analysts Set Casey’s General Stores, Inc. (NASDAQ:CASY) Target Price at $410.22

Casey’s General Stores, Inc. (NASDAQ:CASY) has received an average rating of “Moderate Buy” from the nine brokerages that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $410.22.

A number of brokerages have weighed in on CASY. Deutsche Bank Aktiengesellschaft increased their price target on Casey’s General Stores from $420.00 to $444.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Northcoast Research upgraded Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $410.00 price target for the company in a report on Thursday, July 11th. Royal Bank of Canada reiterated a “sector perform” rating and set a $393.00 price target on shares of Casey’s General Stores in a report on Monday, July 29th. Wells Fargo & Company raised their target price on Casey’s General Stores from $340.00 to $415.00 and gave the company an “overweight” rating in a research note on Thursday, June 13th. Finally, Benchmark restated a “buy” rating and issued a $410.00 target price on shares of Casey’s General Stores in a research note on Wednesday, July 24th.

Hedge Funds Weigh In On Casey’s General Stores

Large investors have recently added to or reduced their stakes in the business. Park Place Capital Corp bought a new position in Casey’s General Stores in the 2nd quarter valued at about $31,000. Innealta Capital LLC bought a new position in Casey’s General Stores in the 2nd quarter valued at about $32,000. Rise Advisors LLC bought a new position in Casey’s General Stores in the 1st quarter valued at about $30,000. Advisors Asset Management Inc. bought a new position in Casey’s General Stores in the 1st quarter valued at about $32,000. Finally, Bank & Trust Co bought a new position in shares of Casey’s General Stores during the 2nd quarter worth approximately $40,000. Institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Stock Performance

NASDAQ CASY opened at $369.40 on Friday. The company has a market capitalization of $13.71 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 2.81 and a beta of 0.80. Casey’s General Stores has a twelve month low of $238.44 and a twelve month high of $401.07. The stock has a fifty day simple moving average of $375.93 and a 200 day simple moving average of $335.74. The company has a quick ratio of 0.42, a current ratio of 0.87 and a debt-to-equity ratio of 0.52.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly 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. Casey’s General Stores had a return on equity of 17.25% and a net margin of 3.38%. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same period last year, the business posted $1.49 EPS. The business’s revenue was up 8.2% compared to the same quarter last year. Sell-side analysts expect that Casey’s General Stores will post 14 EPS for the current year.

Casey’s General Stores Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were given a $0.50 dividend. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $2.00 annualized dividend and a yield of 0.54%. Casey’s General Stores’s dividend payout ratio (DPR) is presently 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.