Casey’s General Stores (NASDAQ:CASY) Posts Quarterly Earnings Results, Beats Estimates By $1.16 EPS

Casey’s General Stores (NASDAQ:CASY) posted its quarterly earnings data on Tuesday. The company reported $4.52 EPS for the quarter, topping the consensus estimate of $3.36 by $1.16, MarketWatch Earnings reports. Casey’s General Stores had a return on equity of 17.13% and a net margin of 2.96%. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter last year, the company earned $4.09 earnings per share. The business’s revenue for the quarter was down 13.1% compared to the same quarter last year.

Casey’s General Stores Stock Performance

NASDAQ CASY opened at $275.69 on Thursday. The stock has a market capitalization of $10.31 billion, a PE ratio of 23.13 and a beta of 0.83. The business has a 50 day simple moving average of $247.71 and a two-hundred day simple moving average of $231.58. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.99 and a quick ratio of 0.59. Casey’s General Stores has a 1-year low of $197.22 and a 1-year high of $275.84.

Casey’s General Stores Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend is Tuesday, October 31st. Casey’s General Stores’s dividend payout ratio is presently 14.43%.

Hedge Funds Weigh In On Casey’s General Stores

Several institutional investors have recently added to or reduced their stakes in CASY. Money Concepts Capital Corp grew its holdings in Casey’s General Stores by 62.7% during the 4th quarter. Money Concepts Capital Corp now owns 122 shares of the company’s stock valued at $27,000 after buying an additional 47 shares in the last quarter. Fortis Capital Advisors LLC purchased a new position in Casey’s General Stores during the 1st quarter valued at approximately $31,000. Sunbelt Securities Inc. boosted its holdings in shares of Casey’s General Stores by 46.6% in the 2nd quarter. Sunbelt Securities Inc. now owns 129 shares of the company’s stock worth $31,000 after purchasing an additional 41 shares during the period. Milestone Investment Advisors LLC purchased a new position in shares of Casey’s General Stores in the 1st quarter worth approximately $34,000. Finally, ICA Group Wealth Management LLC boosted its holdings in shares of Casey’s General Stores by 138.9% in the 1st quarter. ICA Group Wealth Management LLC now owns 215 shares of the company’s stock worth $47,000 after purchasing an additional 125 shares during the period. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on CASY shares. Stephens reaffirmed an “overweight” rating and issued a $280.00 price objective on shares of Casey’s General Stores in a research note on Tuesday. Deutsche Bank Aktiengesellschaft decreased their price objective on Casey’s General Stores from $294.00 to $278.00 in a research note on Wednesday, June 28th. StockNews.com started coverage on Casey’s General Stores in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Royal Bank of Canada increased their target price on Casey’s General Stores from $275.00 to $284.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Finally, Wells Fargo & Company increased their target price on Casey’s General Stores from $260.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Casey’s General Stores has a consensus rating of “Moderate Buy” and an average price target of $273.11.

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.