Shares of Casey's General Stores Inc (NASDAQ:CASY) have been given a consensus rating of “Hold” by the fourteen analysts that are presently covering the stock, MarketBeat.com reports. Eight analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $124.89.
Several analysts have recently issued reports on CASY shares. Raymond James Financial reissued a “market perform” rating on shares of Casey's General Stores in a research note on Wednesday, December 6th. Zacks Investment Research cut shares of Casey's General Stores from a “hold” rating to a “sell” rating in a research note on Wednesday, December 6th. Royal Bank of Canada reissued a “hold” rating on shares of Casey's General Stores in a research note on Friday, December 8th. Barclays reissued a “hold” rating on shares of Casey's General Stores in a research note on Friday, December 15th. Finally, Stephens set a $119.00 price objective on shares of Casey's General Stores and gave the company a “buy” rating in a research note on Wednesday, January 3rd.
Shares of Casey's General Stores (NASDAQ:CASY) traded up $0.59 during midday trading on Friday, hitting $111.29. 634,885 shares of the stock traded hands, compared to its average volume of 461,900. Casey's General Stores has a one year low of $99.76 and a one year high of $128.51. The stock has a market cap of $4,187.90, a PE ratio of 12.99, a PEG ratio of 2.18 and a beta of 0.58. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.03 and a quick ratio of 0.48.
Casey's General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Wednesday, March 7th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.14). Casey's General Stores had a net margin of 4.03% and a return on equity of 12.70%. The company had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same period in the prior year, the firm earned $0.58 earnings per share. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. sell-side analysts forecast that Casey's General Stores will post 4.07 earnings per share for the current fiscal year.
Casey's General Stores announced that its Board of Directors has authorized a share repurchase program on Wednesday, March 7th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Tuesday, May 1st will be given a dividend of $0.26 per share. The ex-dividend date is Monday, April 30th. This represents a $1.04 dividend on an annualized basis and a yield of 0.93%. Casey's General Stores’s dividend payout ratio (DPR) is 12.12%.
In other Casey's General Stores news, Director Cara Kay Heiden purchased 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 8th. The stock was purchased at an average cost of $109.77 per share, with a total value of $439,080.00. Following the transaction, the director now owns 5,043 shares in the company, valued at $553,570.11. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Terry W. Handley sold 1,342 shares of the company’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $110.65, for a total transaction of $148,492.30. Following the sale, the insider now directly owns 29,331 shares of the company’s stock, valued at $3,245,475.15. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. Carillon Tower Advisers Inc. purchased a new position in Casey's General Stores in the 4th quarter valued at about $48,505,000. Janus Henderson Group PLC boosted its position in Casey's General Stores by 20.4% in the 3rd quarter. Janus Henderson Group PLC now owns 1,825,662 shares of the company’s stock valued at $199,819,000 after buying an additional 309,263 shares during the last quarter. Fiduciary Management Inc. WI boosted its position in Casey's General Stores by 73.4% in the 3rd quarter. Fiduciary Management Inc. WI now owns 460,686 shares of the company’s stock valued at $50,422,000 after buying an additional 194,935 shares during the last quarter. Bain Capital Public Equity Management LLC purchased a new position in Casey's General Stores in the 4th quarter valued at about $21,801,000. Finally, Fondren Management LP boosted its position in Casey's General Stores by 208.8% in the 4th quarter. Fondren Management LP now owns 210,000 shares of the company’s stock valued at $23,507,000 after buying an additional 142,000 shares during the last quarter. 98.04% of the stock is owned by hedge funds and other institutional investors.
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About Casey's General Stores
Casey’s General Stores, Inc and its subsidiaries, operate convenience stores under the name Casey’s General Store in approximately 10 Midwestern states, in Iowa, Missouri, and Illinois. The Company also operates approximately two stores selling primarily tobacco products. The stores carry a range of food, including freshly prepared foods such as pizza, donuts, and sandwiches, beverages, tobacco products, health and beauty aids, automotive products and other nonfood items.
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