Wells Fargo & Company Boosts Casey’s General Stores (NASDAQ:CASY) Price Target to $415.00

Casey’s General Stores (NASDAQ:CASY) had its price objective boosted by Wells Fargo & Company from $340.00 to $415.00 in a research report report published on Thursday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other equities research analysts also recently weighed in on CASY. Royal Bank of Canada lifted their target price on Casey’s General Stores from $322.00 to $361.00 and gave the stock a sector perform rating in a research report on Wednesday, June 12th. Northcoast Research lowered Casey’s General Stores from a buy rating to a neutral rating in a research note on Wednesday, May 15th. Benchmark upped their price objective on Casey’s General Stores from $350.00 to $410.00 and gave the company a buy rating in a research note on Thursday. StockNews.com upgraded Casey’s General Stores from a buy rating to a strong-buy rating in a research note on Wednesday, June 12th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Casey’s General Stores from $375.00 to $420.00 and gave the company a buy rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $380.11.

Casey’s General Stores Stock Down 1.2 %

CASY stock opened at $372.02 on Thursday. Casey’s General Stores has a twelve month low of $216.95 and a twelve month high of $389.43. The company has a market cap of $13.77 billion, a PE ratio of 27.70, a price-to-earnings-growth ratio of 2.70 and a beta of 0.83. The business’s 50-day simple moving average is $327.90 and its 200 day simple moving average is $302.44. The company has a quick ratio of 0.42, a current ratio of 0.87 and a debt-to-equity ratio of 0.52.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Tuesday, June 11th. The company reported $2.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.64. Casey’s General Stores had a return on equity of 17.25% and a net margin of 3.38%. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same period last year, the business earned $1.49 earnings per share. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, research analysts anticipate that Casey’s General Stores will post 14.18 earnings per share for the current year.

Casey’s General Stores Increases Dividend

The firm also recently announced 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 is an increase from Casey’s General Stores’s previous quarterly dividend of $0.43. This represents a $2.00 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Thursday, August 1st. Casey’s General Stores’s payout ratio is presently 12.81%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CASY. DekaBank Deutsche Girozentrale lifted its holdings in Casey’s General Stores by 321.7% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 26,862 shares of the company’s stock worth $8,531,000 after buying an additional 20,492 shares in the last quarter. Cetera Advisors LLC lifted its holdings in Casey’s General Stores by 130.0% during the 1st quarter. Cetera Advisors LLC now owns 5,830 shares of the company’s stock worth $1,857,000 after buying an additional 3,295 shares in the last quarter. Cetera Investment Advisers lifted its holdings in Casey’s General Stores by 255.8% during the 1st quarter. Cetera Investment Advisers now owns 9,291 shares of the company’s stock worth $2,959,000 after buying an additional 6,680 shares in the last quarter. Tidal Investments LLC acquired a new position in Casey’s General Stores during the 1st quarter worth $214,000. Finally, Motley Fool Asset Management LLC acquired a new position in Casey’s General Stores during the 1st quarter worth $246,000. 85.63% of the stock is owned by institutional investors and hedge funds.

About Casey’s General Stores

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.