Goldman Sachs began coverage on shares of Casey’s General Stores (NASDAQ:CASY) in a report issued on Thursday, Marketbeat.com reports. The brokerage issued a neutral rating and a $106.00 price target on the stock.
CASY has been the topic of a number of other reports. BidaskClub cut Casey’s General Stores from a strong-buy rating to a buy rating in a research note on Wednesday, January 24th. Gabelli initiated coverage on Casey’s General Stores in a research note on Friday, February 16th. They issued a buy rating and a $162.00 target price on the stock. Wells Fargo reissued a market perform rating and issued a $116.00 target price (down from $118.00) on shares of Casey’s General Stores in a research note on Thursday, March 8th. BMO Capital Markets cut their target price on Casey’s General Stores from $122.00 to $105.00 and set a market perform rating on the stock in a research note on Friday, March 9th. Finally, Royal Bank of Canada set a $112.00 target price on Casey’s General Stores and gave the stock a hold rating in a research note on Tuesday, February 27th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $122.91.
Shares of CASY stock opened at $107.18 on Thursday. The firm has a market capitalization of $4,023.11, a P/E ratio of 23.92, a PEG ratio of 2.10 and a beta of 0.59. Casey’s General Stores has a twelve month low of $99.76 and a twelve month high of $128.51. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.48 and a current ratio of 1.03.
Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Wednesday, March 7th. The company reported $0.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.14). The firm had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Casey’s General Stores had a return on equity of 12.70% and a net margin of 4.03%. Casey’s General Stores’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.58 earnings per share. equities analysts anticipate 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 has approved a stock repurchase plan on Wednesday, March 7th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed 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 of this dividend is Monday, April 30th. This represents a $1.04 annualized dividend and a dividend yield of 0.97%. Casey’s General Stores’s dividend payout ratio (DPR) is presently 23.21%.
In other Casey’s General Stores news, Director David K. Lenhardt acquired 2,300 shares of the company’s stock in a transaction that occurred on Tuesday, March 13th. The shares were bought at an average cost of $111.24 per share, with a total value of $255,852.00. Following the completion of the transaction, the director now directly owns 2,300 shares of the company’s stock, valued at approximately $255,852. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Cara Kay Heiden acquired 4,000 shares of the company’s stock in a transaction that occurred on Thursday, March 8th. The shares were acquired at an average cost of $109.77 per share, for a total transaction of $439,080.00. Following the completion of the transaction, the director now directly owns 5,043 shares of the company’s stock, valued at $553,570.11. The disclosure for this purchase can be found here. Company insiders own 1.30% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp purchased a new stake in shares of Casey’s General Stores during the fourth quarter valued at $8,396,000. Engine Capital Management LLC boosted its position in shares of Casey’s General Stores by 46.5% during the third quarter. Engine Capital Management LLC now owns 2,930 shares of the company’s stock valued at $321,000 after buying an additional 930 shares during the last quarter. Carillon Tower Advisers Inc. purchased a new stake in shares of Casey’s General Stores during the fourth quarter valued at $48,505,000. BlackRock Inc. boosted its position in shares of Casey’s General Stores by 1.7% during the fourth quarter. BlackRock Inc. now owns 3,040,565 shares of the company’s stock valued at $340,360,000 after buying an additional 52,272 shares during the last quarter. Finally, Financial Counselors Inc. boosted its position in shares of Casey’s General Stores by 705.1% during the fourth quarter. Financial Counselors Inc. now owns 25,289 shares of the company’s stock valued at $2,831,000 after buying an additional 22,148 shares during the last quarter. 98.03% of the stock is currently owned by 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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