Casey’s General Stores, Inc. (CASY) to Issue Quarterly Dividend of $0.50 on February 17th

Casey’s General Stores, Inc. (NASDAQ:CASY) declared a quarterly dividend on Monday, December 9th,RTT News reports. Shareholders of record on Monday, February 3rd will be paid a dividend of 0.50 per share on Monday, February 17th. This represents a $2.00 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, February 3rd.

Casey’s General Stores has increased its dividend payment by an average of 8.2% annually over the last three years and has increased its dividend every year for the last 24 years. Casey’s General Stores has a payout ratio of 12.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Casey’s General Stores to earn $15.55 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 12.9%.

Casey’s General Stores Trading Down 0.3 %

Shares of CASY stock opened at $416.86 on Wednesday. The business’s fifty day moving average price is $401.61 and its 200 day moving average price is $380.19. The firm has a market capitalization of $15.47 billion, a PE ratio of 30.34 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.84 and a quick ratio of 0.44. Casey’s General Stores has a 1-year low of $266.56 and a 1-year high of $435.60.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Monday, December 9th. The company reported $4.85 EPS for the quarter, topping analysts’ consensus estimates of $4.29 by $0.56. The firm had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $4.03 billion. Casey’s General Stores had a return on equity of 17.07% and a net margin of 3.40%. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $4.24 EPS. As a group, sell-side analysts forecast that Casey’s General Stores will post 14.22 EPS for the current fiscal year.

Insider Activity

In other Casey’s General Stores news, Director Mike Spanos acquired 267 shares of the stock in a transaction dated Wednesday, September 18th. The shares were bought at an average price of $376.18 per share, with a total value of $100,440.06. Following the purchase, the director now directly owns 2,594 shares of the company’s stock, valued at approximately $975,810.92. This trade represents a 11.47 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CASY shares. JPMorgan Chase & Co. downgraded Casey’s General Stores from a “neutral” rating to an “underweight” rating and increased their target price for the stock from $300.00 to $337.00 in a research report on Thursday, September 19th. Melius Research assumed coverage on shares of 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. Evercore ISI lifted their target price on Casey’s General Stores from $435.00 to $440.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Royal Bank of Canada increased their target price on shares of Casey’s General Stores from $403.00 to $428.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Finally, StockNews.com upgraded Casey’s General Stores from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $410.33.

About Casey’s General Stores

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.