Casey’s General Stores, Inc. (CASY) To Go Ex-Dividend on November 1st

Casey’s General Stores, Inc. (NASDAQ:CASY) declared a quarterly dividend on Thursday, August 29th, Zacks reports. Investors of record on Friday, November 1st will be given a dividend of 0.50 per share on Friday, November 15th. This represents a $2.00 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend is Friday, November 1st.

Casey’s General Stores has raised its dividend by an average of 8.2% per year over the last three years and has increased its dividend every year for the last 24 years. Casey’s General Stores has a dividend payout ratio of 12.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Casey’s General Stores to earn $15.49 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 12.9%.

Casey’s General Stores Stock Down 0.5 %

Shares of NASDAQ CASY opened at $398.51 on Wednesday. The company has a current ratio of 0.84, a quick ratio of 0.44 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $14.79 billion, a PE ratio of 29.00 and a beta of 0.80. The firm’s 50-day moving average is $377.21 and its 200-day moving average is $361.79. Casey’s General Stores has a 1 year low of $266.55 and a 1 year high of $401.17.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.54 by $0.29. Casey’s General Stores had a return on equity of 17.07% and a net margin of 3.40%. The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period last year, the company earned $4.52 EPS. The firm’s revenue was up 5.9% on a year-over-year basis. Equities analysts expect that Casey’s General Stores will post 14.01 EPS for the current year.

Analyst Ratings Changes

CASY has been the topic of several recent analyst reports. Benchmark reissued a “buy” rating and set a $410.00 price objective on shares of Casey’s General Stores in a research note on Tuesday, September 10th. StockNews.com downgraded Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 3rd. JPMorgan Chase & Co. cut Casey’s General Stores from a “neutral” rating to an “underweight” rating and boosted their target price for the company from $300.00 to $337.00 in a research note on Thursday, September 19th. Melius Research began coverage on Casey’s General Stores in a report on Monday, September 23rd. They issued a “buy” rating and a $435.00 price target for the company. Finally, Wells Fargo & Company boosted their price objective on Casey’s General Stores from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $408.09.

Insider Activity

In related news, CEO Darren M. Rebelez sold 13,500 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $374.54, for a total transaction of $5,056,290.00. Following the completion of the transaction, the chief executive officer now owns 73,838 shares in the company, valued at approximately $27,655,284.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $380.24, for a total value of $1,140,720.00. Following the completion of the sale, the insider now directly owns 9,044 shares in the company, valued at approximately $3,438,890.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Darren M. Rebelez sold 13,500 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $374.54, for a total transaction of $5,056,290.00. Following the completion of the transaction, the chief executive officer now directly owns 73,838 shares in the company, valued at $27,655,284.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.56% of the stock is owned by corporate insiders.

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.