Casey’s General Stores’ (CASY) Sector Perform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of Casey’s General Stores (NASDAQ:CASY) in a research report report published on Monday, Benzinga reports. Royal Bank of Canada currently has a $393.00 price target on the stock.

Several other analysts have also recently issued reports on CASY. Wells Fargo & Company upped their price objective on Casey’s General Stores from $340.00 to $415.00 and gave the stock an overweight rating in a report on Thursday, June 13th. BMO Capital Markets increased their price objective on shares of Casey’s General Stores from $305.00 to $400.00 and gave the company a market perform rating in a research report on Thursday, June 13th. Benchmark restated a buy rating and issued a $410.00 target price on shares of Casey’s General Stores in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Casey’s General Stores from $375.00 to $420.00 and gave the company a buy rating in a report on Thursday, June 13th. Finally, StockNews.com cut Casey’s General Stores from a strong-buy rating to a buy rating in a research note on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $410.22.

Casey’s General Stores Price Performance

Shares of NASDAQ:CASY opened at $383.10 on Monday. The firm has a market cap of $14.22 billion, a price-to-earnings ratio of 28.53, a P/E/G ratio of 2.82 and a beta of 0.80. The firm has a fifty day moving average price of $364.96 and a 200 day moving average price of $326.10. Casey’s General Stores has a fifty-two week low of $238.44 and a fifty-two week high of $401.07. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.87.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Tuesday, June 11th. The company reported $2.34 EPS for the quarter, beating the consensus estimate of $1.70 by $0.64. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.47 billion. Casey’s General Stores had a net margin of 3.38% and a return on equity of 17.25%. The business’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.49 EPS. As a group, sell-side analysts expect that Casey’s General Stores will post 14.12 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.52%. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, August 1st. Casey’s General Stores’s dividend payout ratio is presently 12.81%.

Hedge Funds Weigh In On Casey’s General Stores

Several hedge funds have recently bought and sold shares of CASY. Impax Asset Management Group plc purchased a new stake in shares of Casey’s General Stores during the fourth quarter valued at $2,596,000. Congress Asset Management Co. MA bought a new stake in Casey’s General Stores during the 1st quarter valued at about $112,081,000. Steward Partners Investment Advisory LLC lifted its holdings in Casey’s General Stores by 195.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,488 shares of the company’s stock valued at $958,000 after buying an additional 2,309 shares in the last quarter. Principal Securities Inc. bought a new stake in Casey’s General Stores during the 4th quarter valued at about $666,000. Finally, Kapitalo Investimentos Ltda bought a new stake in Casey’s General Stores during the 4th quarter valued at about $903,000. Institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Company Profile

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.