Casey’s General Stores (NASDAQ:CASY) Hits New 12-Month High – What’s Next?

Shares of Casey’s General Stores, Inc. (NASDAQ:CASY) hit a new 52-week high on Wednesday . The company traded as high as $705.60 and last traded at $704.1990, with a volume of 84036 shares changing hands. The stock had previously closed at $689.04.

Analyst Ratings Changes

CASY has been the subject of several research reports. Deutsche Bank Aktiengesellschaft set a $688.00 price target on Casey’s General Stores in a research note on Thursday, January 8th. Evercore set a $665.00 target price on shares of Casey’s General Stores and gave the company an “outperform” rating in a report on Tuesday, February 24th. JPMorgan Chase & Co. began coverage on shares of Casey’s General Stores in a research report on Thursday. They set a “neutral” rating and a $719.00 target price for the company. Northcoast Research downgraded shares of Casey’s General Stores from a “buy” rating to a “neutral” rating in a report on Wednesday, January 21st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Casey’s General Stores in a research report on Monday, December 29th. Eight equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $700.09.

Casey’s General Stores Price Performance

The company has a debt-to-equity ratio of 0.61, a current ratio of 1.04 and a quick ratio of 0.64. The firm has a market capitalization of $26.31 billion, a PE ratio of 40.86, a P/E/G ratio of 2.33 and a beta of 0.65. The company has a 50-day moving average price of $659.93 and a 200-day moving average price of $591.28.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Monday, March 9th. The company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $2.94 by $0.55. Casey’s General Stores had a return on equity of 17.56% and a net margin of 3.83%.The firm had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter last year, the business posted $2.33 EPS. The firm’s quarterly revenue was up .3% compared to the same quarter last year. Sell-side analysts forecast that Casey’s General Stores, Inc. will post 13.94 EPS for the current year.

Casey’s General Stores Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 1st will be issued a dividend of $0.57 per share. The ex-dividend date is Friday, May 1st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.3%. Casey’s General Stores’s payout ratio is 13.09%.

Insider Activity

In other news, insider Katrina S. Lindsey sold 200 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $683.04, for a total value of $136,608.00. Following the completion of the transaction, the insider owned 4,039 shares of the company’s stock, valued at $2,758,798.56. The trade was a 4.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mike Spanos acquired 300 shares of Casey’s General Stores stock in a transaction that occurred on Friday, March 13th. The shares were purchased at an average cost of $665.43 per share, for a total transaction of $199,629.00. Following the purchase, the director directly owned 4,499 shares of the company’s stock, valued at approximately $2,993,769.57. This trade represents a 7.14% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CASY. Foster Dykema Cabot & Partners LLC acquired a new stake in shares of Casey’s General Stores during the third quarter worth $25,000. Westside Investment Management Inc. grew its position in shares of Casey’s General Stores by 100.0% in the third quarter. Westside Investment Management Inc. now owns 46 shares of the company’s stock valued at $26,000 after purchasing an additional 23 shares during the period. Central Pacific Bank Trust Division increased its stake in Casey’s General Stores by 52.8% in the fourth quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock valued at $30,000 after purchasing an additional 19 shares during the last quarter. True Wealth Design LLC increased its stake in Casey’s General Stores by 350.0% in the fourth quarter. True Wealth Design LLC now owns 54 shares of the company’s stock valued at $30,000 after purchasing an additional 42 shares during the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new position in Casey’s General Stores during the third quarter worth about $33,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Casey’s General Stores Company Profile

Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.