Casey's General Stores Inc (NASDAQ:CASY) has been assigned a consensus rating of “Hold” from the fourteen research firms that are covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $125.50.
CASY has been the subject of several recent analyst reports. BidaskClub downgraded Casey's General Stores from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 24th. 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 objective for the company. Wells Fargo & Co restated a “market perform” rating and set a $116.00 price objective (down from $118.00) on shares of Casey's General Stores in a research report on Thursday. BMO Capital Markets dropped their price objective on Casey's General Stores from $122.00 to $105.00 and set a “market perform” rating for the company in a research report on Friday. Finally, Royal Bank of Canada set a $112.00 price objective on Casey's General Stores and gave the stock a “hold” rating in a research report on Tuesday, February 27th.
Casey's General Stores (NASDAQ:CASY) traded up $1.72 on Friday, hitting $110.80. The stock had a trading volume of 531,463 shares, compared to its average volume of 434,533. The firm has a market cap of $4,158.99, a price-to-earnings ratio of 12.91, a P/E/G ratio of 2.10 and a beta of 0.58. Casey's General Stores has a 12 month low of $99.76 and a 12 month high of $128.51. The company has a current ratio of 1.03, a quick ratio of 0.72 and a debt-to-equity ratio of 0.98.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Tuesday, May 1st will be given a $0.26 dividend. The ex-dividend date of this dividend is Monday, April 30th. This represents a $1.04 annualized dividend and a yield of 0.94%. Casey's General Stores’s dividend payout ratio is presently 12.12%.
Casey's General Stores declared that its board has approved a stock repurchase plan on Wednesday, March 7th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.
In other news, Director Cara Kay Heiden bought 4,000 shares of the company’s stock in a transaction on Thursday, March 8th. The stock was purchased 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 owns 5,043 shares of the company’s stock, valued at $553,570.11. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 1.30% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of CASY. Carillon Tower Advisers Inc. bought a new position in Casey's General Stores in the fourth quarter valued at about $48,505,000. Janus Henderson Group PLC raised its position in Casey's General Stores by 20.4% in the third quarter. Janus Henderson Group PLC now owns 1,825,662 shares of the company’s stock valued at $199,819,000 after purchasing an additional 309,263 shares during the last quarter. Fiduciary Management Inc. WI raised its position in Casey's General Stores by 73.4% in the third quarter. Fiduciary Management Inc. WI now owns 460,686 shares of the company’s stock valued at $50,422,000 after purchasing an additional 194,935 shares during the last quarter. Bain Capital Public Equity Management LLC bought a new position in Casey's General Stores in the fourth quarter valued at about $21,801,000. Finally, Fondren Management LP raised its position in Casey's General Stores by 208.8% in the fourth quarter. Fondren Management LP now owns 210,000 shares of the company’s stock valued at $23,507,000 after purchasing an additional 142,000 shares during the last quarter. Hedge funds and other institutional investors own 97.33% of the company’s stock.
Casey's General Stores Company Profile
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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