Casey's General Stores (NASDAQ:CASY – Get Rating) released its quarterly earnings data on Wednesday. The company reported $2.36 EPS for the quarter, beating the consensus estimate of $1.83 by $0.53, Briefing.com reports. The company had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.35 billion. Casey's General Stores had a return on equity of 18.02% and a net margin of 2.96%. The firm's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.71 EPS.
Casey's General Stores Stock Performance
NASDAQ CASY opened at $217.77 on Friday. The firm's 50 day simple moving average is $221.61 and its 200 day simple moving average is $222.77. The firm has a market capitalization of $8.11 billion, a price-to-earnings ratio of 18.10 and a beta of 0.82. The company has a current ratio of 1.10, a quick ratio of 0.65 and a debt-to-equity ratio of 0.63. Casey's General Stores has a 1 year low of $174.05 and a 1 year high of $249.90.
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Casey's General Stores Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Monday, May 1st will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Friday, April 28th. Casey's General Stores's dividend payout ratio (DPR) is presently 12.64%.
Institutional Trading of Casey's General Stores
Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Casey's General Stores by 0.7% during the third quarter. Vanguard Group Inc. now owns 3,734,566 shares of the company's stock worth $756,324,000 after acquiring an additional 25,687 shares in the last quarter. State Street Corp increased its position in Casey's General Stores by 4.4% during the 3rd quarter. State Street Corp now owns 1,432,889 shares of the company's stock worth $290,189,000 after purchasing an additional 60,487 shares in the last quarter. Morgan Stanley lifted its stake in Casey's General Stores by 430.5% in the 4th quarter. Morgan Stanley now owns 1,141,475 shares of the company's stock valued at $256,090,000 after purchasing an additional 926,324 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Casey's General Stores by 48.1% in the second quarter. Goldman Sachs Group Inc. now owns 569,116 shares of the company's stock valued at $105,276,000 after buying an additional 184,835 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Casey's General Stores by 7.2% during the first quarter. Dimensional Fund Advisors LP now owns 501,590 shares of the company's stock worth $99,403,000 after buying an additional 33,872 shares during the last quarter. 84.74% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities analysts have recently weighed in on the stock. Northcoast Research lowered shares of Casey's General Stores from a "buy" rating to a "neutral" rating in a research report on Thursday, December 8th. Benchmark restated a "buy" rating and set a $275.00 price objective on shares of Casey's General Stores in a research report on Thursday. Deutsche Bank Aktiengesellschaft upped their target price on Casey's General Stores from $285.00 to $294.00 and gave the company a "buy" rating in a research report on Thursday. JPMorgan Chase & Co. raised Casey's General Stores from an "underweight" rating to a "neutral" rating and lifted their price target for the stock from $173.00 to $211.00 in a report on Friday, March 3rd. Finally, Credit Suisse Group reaffirmed a "neutral" rating and issued a $254.00 price objective on shares of Casey's General Stores in a report on Thursday. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $259.44.
About Casey's General Stores
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Casey's General Stores, Inc engages in the management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.
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