Casey’s General Stores (NASDAQ:CASY) Lowered to Hold Rating by StockNews.com

StockNews.com lowered shares of Casey’s General Stores (NASDAQ:CASY) from a buy rating to a hold rating in a research report sent to investors on Thursday.

CASY has been the subject of a number of other research reports. Evercore ISI raised their target price on shares of Casey’s General Stores from $460.00 to $470.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. BMO Capital Markets reiterated a “market perform” rating and set a $450.00 price target (up previously from $400.00) on shares of Casey’s General Stores in a research report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Casey’s General Stores from $451.00 to $454.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Royal Bank of Canada lifted their price target on Casey’s General Stores from $403.00 to $428.00 and gave the company a “sector perform” rating in a research note on Tuesday, December 10th. Finally, Gordon Haskett raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $424.00.

Casey’s General Stores Trading Down 1.7 %

Shares of NASDAQ:CASY opened at $409.09 on Thursday. Casey’s General Stores has a one year low of $290.00 and a one year high of $445.17. The stock has a market capitalization of $15.18 billion, a PE ratio of 28.51, a price-to-earnings-growth ratio of 2.40 and a beta of 0.83. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.49. The company’s 50-day moving average price is $410.14 and its two-hundred day moving average price is $397.87.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Monday, December 9th. The company reported $4.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.29 by $0.56. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $4.03 billion. During the same period in the prior year, the firm posted $4.24 earnings per share. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, equities analysts forecast that Casey’s General Stores will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 17th. Stockholders of record on Monday, February 3rd were given a $0.50 dividend. The ex-dividend date was Monday, February 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.49%. Casey’s General Stores’s dividend payout ratio is currently 13.94%.

Insider Transactions at Casey’s General Stores

In related news, insider Katrina S. Lindsey sold 450 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $427.13, for a total transaction of $192,208.50. Following the completion of the transaction, the insider now owns 2,247 shares in the company, valued at approximately $959,761.11. This represents a 16.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mike Spanos bought 500 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were acquired at an average price of $396.76 per share, with a total value of $198,380.00. Following the transaction, the director now directly owns 3,097 shares of the company’s stock, valued at approximately $1,228,765.72. This trade represents a 19.25 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.56% of the company’s stock.

Institutional Trading of Casey’s General Stores

Several hedge funds and other institutional investors have recently made changes to their positions in CASY. YANKCOM Partnership acquired a new position in Casey’s General Stores during the 4th quarter valued at approximately $34,000. Endeavor Private Wealth Inc. purchased a new stake in shares of Casey’s General Stores in the 4th quarter valued at $36,000. Venturi Wealth Management LLC lifted its position in Casey’s General Stores by 941.7% during the third quarter. Venturi Wealth Management LLC now owns 125 shares of the company’s stock valued at $47,000 after purchasing an additional 113 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Casey’s General Stores by 24.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 149 shares of the company’s stock valued at $59,000 after buying an additional 29 shares during the period. Finally, Kennebec Savings Bank acquired a new stake in Casey’s General Stores during the third quarter worth about $76,000. 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 engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.