Royal Bank of Canada Raises Casey’s General Stores (NASDAQ:CASY) Price Target to $403.00

Casey’s General Stores (NASDAQ:CASY) had its price target hoisted by Royal Bank of Canada from $393.00 to $403.00 in a report published on Thursday, Benzinga reports. The brokerage currently has a sector perform rating on the stock.

A number of other analysts have also issued reports on CASY. StockNews.com cut shares of Casey’s General Stores from a strong-buy rating to a buy rating in a research note on Saturday, August 3rd. Benchmark reiterated a buy rating and set a $410.00 price objective on shares of Casey’s General Stores in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. upped their target price on Casey’s General Stores from $298.00 to $300.00 and gave the company a neutral rating in a report on Wednesday. Northcoast Research upgraded Casey’s General Stores from a neutral rating to a buy rating and set a $410.00 price target on the stock in a report on Thursday, July 11th. Finally, Wells Fargo & Company raised their price objective on Casey’s General Stores from $340.00 to $415.00 and gave the stock an overweight rating in a research report on Thursday, June 13th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $401.20.

Casey’s General Stores Stock Down 1.8 %

Casey’s General Stores stock opened at $373.82 on Thursday. Casey’s General Stores has a 12 month low of $238.44 and a 12 month high of $401.07. The stock has a market capitalization of $13.87 billion, a PE ratio of 27.83, a price-to-earnings-growth ratio of 2.52 and a beta of 0.80. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.87 and a quick ratio of 0.42. The business has a 50 day simple moving average of $373.57 and a 200-day simple moving average of $342.55.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Wednesday, September 4th. The company reported $4.83 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 3.38% and a return on equity of 17.25%. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the prior year, the business posted $4.52 earnings per share. On average, analysts anticipate that Casey’s General Stores will post 14.06 EPS for the current fiscal year.

Casey’s General Stores Dividend Announcement

The business also recently announced 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. This represents a $2.00 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date is Friday, November 1st. Casey’s General Stores’s payout ratio is currently 14.89%.

Institutional Trading of Casey’s General Stores

A number of large investors have recently made changes to their positions in CASY. Norges Bank purchased a new position in shares of Casey’s General Stores during the fourth quarter valued at approximately $115,799,000. Congress Asset Management Co. MA purchased a new position in Casey’s General Stores during the first quarter worth about $112,081,000. Point72 Asset Management L.P. boosted its stake in Casey’s General Stores by 561.7% in the 4th 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 during the last quarter. Millennium Management LLC grew its holdings in Casey’s General Stores by 3,846.1% in the 2nd quarter. Millennium Management LLC now owns 172,320 shares of the company’s stock valued at $65,750,000 after buying an additional 176,920 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Casey’s General Stores by 113.0% during the 1st quarter. Principal Financial Group Inc. now owns 291,838 shares of the company’s stock valued at $92,936,000 after acquiring an additional 154,803 shares during the last quarter. Institutional investors and hedge funds 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.