Casey’s General Stores, Inc. (NASDAQ:CASY) Announces $0.43 Quarterly Dividend

Casey’s General Stores, Inc. (NASDAQ:CASY) declared a quarterly dividend on Thursday, March 7th, Zacks reports. Stockholders of record on Wednesday, May 1st will be paid a dividend of 0.43 per share on Wednesday, May 15th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Tuesday, April 30th.

Casey’s General Stores has raised its dividend payment by an average of 8.2% annually over the last three years and has increased its dividend every year for the last 23 years. Casey’s General Stores has a dividend payout ratio of 11.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Casey’s General Stores to earn $14.15 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 12.2%.

Casey’s General Stores Price Performance

Shares of CASY opened at $320.03 on Monday. The company has a market capitalization of $11.85 billion, a price-to-earnings ratio of 25.44, a P/E/G ratio of 2.56 and a beta of 0.83. Casey’s General Stores has a fifty-two week low of $212.50 and a fifty-two week high of $324.40. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.89 and a quick ratio of 0.42. The business’s 50-day moving average is $307.99 and its 200-day moving average is $287.79.

Casey’s General Stores (NASDAQ:CASY) last issued its earnings results on Tuesday, March 12th. The company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.13. Casey’s General Stores had a return on equity of 16.70% and a net margin of 3.23%. The company had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.51 billion. During the same quarter in the prior year, the company earned $2.36 EPS. The firm’s quarterly revenue was down .1% on a year-over-year basis. Equities research analysts expect that Casey’s General Stores will post 12.81 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on CASY. Wells Fargo & Company increased their price objective on Casey’s General Stores from $305.00 to $340.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. StockNews.com cut Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 21st. BMO Capital Markets upped their target price on Casey’s General Stores from $290.00 to $305.00 and gave the stock a “market perform” rating in a research report on Wednesday, March 13th. Benchmark reaffirmed a “buy” rating and set a $312.00 target price on shares of Casey’s General Stores in a research report on Wednesday, March 6th. Finally, Evercore ISI decreased their target price on Casey’s General Stores from $350.00 to $345.00 and set an “outperform” rating for the company in a research report on Tuesday, April 16th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $312.63.

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.