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

Casey’s General Stores, Inc. (NASDAQ:CASY) announced a quarterly dividend on Thursday, March 7th, Zacks reports. Stockholders of record on Wednesday, May 1st will be given 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 increased 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% indicating that 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

NASDAQ:CASY opened at $320.03 on Monday. The stock has a market capitalization of $11.85 billion, a PE ratio of 25.44, a price-to-earnings-growth ratio of 2.56 and a beta of 0.83. Casey’s General Stores has a 52 week low of $212.50 and a 52 week high of $324.40. The stock’s 50-day moving average price is $307.99 and its 200-day moving average price is $287.79. The company has a quick ratio of 0.42, a current ratio of 0.89 and a debt-to-equity ratio of 0.54.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Tuesday, March 12th. The company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.13. Casey’s General Stores had a net margin of 3.23% and a return on equity of 16.70%. The business had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.51 billion. During the same period last year, the company posted $2.36 EPS. The business’s revenue was down .1% on a year-over-year basis. As a group, equities analysts expect that Casey’s General Stores will post 12.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Casey’s General Stores Company Profile

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.