BidaskClub lowered shares of Casey’s General Stores (NASDAQ:CASY) from a hold rating to a sell rating in a research report sent to investors on Wednesday.
A number of other brokerages also recently issued reports on CASY. BMO Capital Markets set a $122.00 price target on Casey’s General Stores and gave the stock a hold rating in a research report on Wednesday, January 24th. Zacks Investment Research downgraded Casey’s General Stores from a hold rating to a sell rating in a research report on Tuesday, January 9th. Stephens set a $150.00 price target on Casey’s General Stores and gave the stock a buy rating in a research report on Friday, January 12th. Wells Fargo increased their price target on Casey’s General Stores from $105.00 to $118.00 and gave the stock a market perform rating in a research report on Thursday, January 4th. Finally, Gabelli initiated coverage on Casey’s General Stores in a research report on Friday, February 16th. They set a buy rating and a $162.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $122.91.
Casey’s General Stores stock opened at $101.85 on Wednesday. Casey’s General Stores has a 12 month low of $99.76 and a 12 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. The company has a market capitalization of $3,823.43, a PE ratio of 25.59, a PEG ratio of 2.03 and a beta of 0.59.
Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Wednesday, March 7th. The company reported $0.48 EPS for the quarter, missing the 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 firm had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same period in the previous year, the company posted $0.58 EPS. Casey’s General Stores’s revenue for the quarter was up 16.1% compared to the same quarter last year. analysts anticipate that Casey’s General Stores will post 3.99 EPS for the current year.
Casey’s General Stores announced that its board has authorized a stock 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. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Tuesday, May 1st will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.02%. The ex-dividend date is Monday, April 30th. Casey’s General Stores’s payout ratio is presently 23.21%.
In other Casey’s General Stores news, VP William J. Walljasper sold 1,000 shares of the company’s stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $108.85, for a total transaction of $108,850.00. Following the completion of the sale, the vice president now directly owns 21,452 shares in the company, valued at $2,335,050.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David K. Lenhardt bought 2,300 shares of the business’s stock in a transaction on Tuesday, March 13th. The shares were acquired at an average price of $111.24 per share, with a total value of $255,852.00. Following the completion of the purchase, the director now directly owns 2,300 shares of the company’s stock, valued at $255,852. The disclosure for this purchase can be found here. 1.30% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Prime Capital Investment Advisors LLC bought a new stake in Casey’s General Stores during the fourth quarter worth $105,000. Amundi Pioneer Asset Management Inc. bought a new stake in Casey’s General Stores during the fourth quarter worth $133,000. Aristotle Atlantic Partners LLC bought a new stake in Casey’s General Stores during the fourth quarter worth $204,000. Franklin Resources Inc. bought a new stake in Casey’s General Stores during the fourth quarter worth $222,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Casey’s General Stores by 37.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,450 shares of the company’s stock worth $274,000 after purchasing an additional 671 shares during the last quarter. Hedge funds and other institutional investors own 96.89% of the company’s stock.
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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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