Zacks Investment Research upgraded shares of Caseys General Stores, Inc. (NASDAQ:CASY) from a sell rating to a hold rating in a research note issued to investors on Thursday, September 7th.
According to Zacks, “Casey’s General Stores, Inc. operate convenience stores under the name Casey’s General Store in Midwestern states, primarily Iowa, Missouri and Illinois. The stores carry a broad selection of food (including freshly prepared foods such as pizza, donuts and sandwiches), beverages, tobacco products, health and beauty aids, automotive products and other non-food items. In addition, all stores offer gasoline for sale on a self-service basis. “
Other research analysts also recently issued reports about the company. Jefferies Group LLC reaffirmed a buy rating and set a $134.00 price target (down from $139.00) on shares of Caseys General Stores in a research note on Thursday, August 31st. Deutsche Bank AG set a $120.00 price objective on Caseys General Stores and gave the stock a buy rating in a research note on Tuesday, June 6th. BMO Capital Markets set a $116.00 price objective on Caseys General Stores and gave the stock a hold rating in a research note on Wednesday, May 31st. BidaskClub raised Caseys General Stores from a sell rating to a hold rating in a research report on Saturday, August 5th. Finally, Sidoti lowered Caseys General Stores from a buy rating to a neutral rating and reduced their price objective for the company from $130.00 to $118.00 in a report on Tuesday, June 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $115.29.
Caseys General Stores (CASY) opened at 106.75 on Thursday. The company has a market cap of $4.11 billion, a PE ratio of 23.83 and a beta of 0.50. Caseys General Stores has a 12-month low of $99.76 and a 12-month high of $126.49. The company has a 50-day moving average price of $106.04 and a 200 day moving average price of $109.37.
Caseys General Stores (NASDAQ:CASY) last issued its earnings results on Tuesday, September 5th. The company reported $1.46 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.46. Caseys General Stores had a return on equity of 13.99% and a net margin of 2.19%. The business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the firm earned $1.70 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, analysts forecast that Caseys General Stores will post $4.40 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.97%. The ex-dividend date is Tuesday, October 31st. Caseys General Stores’s dividend payout ratio is 24.53%.
In related news, SVP John C. Soupene sold 1,000 shares of Caseys General Stores stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $106.52, for a total transaction of $106,520.00. Following the completion of the sale, the senior vice president now owns 1,253 shares of the company’s stock, valued at $133,469.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC bought a new stake in Caseys General Stores during the 1st quarter valued at approximately $115,000. Clear Perspective Advisors LLC boosted its position in Caseys General Stores by 8.9% during the 2nd quarter. Clear Perspective Advisors LLC now owns 1,225 shares of the company’s stock valued at $131,000 after acquiring an additional 100 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Caseys General Stores by 46.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,779 shares of the company’s stock worth $191,000 after purchasing an additional 566 shares in the last quarter. Engine Capital Management LLC boosted its position in shares of Caseys General Stores by 740.3% in the 1st quarter. Engine Capital Management LLC now owns 2,000 shares of the company’s stock worth $225,000 after purchasing an additional 1,762 shares in the last quarter. Finally, Private Advisor Group LLC bought a new stake in shares of Caseys General Stores in the 1st quarter worth approximately $233,000. Hedge funds and other institutional investors own 99.48% of the company’s stock.
About Caseys 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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