Casey’s General Stores (NASDAQ:CASY) Reaches New 52-Week High – What’s Next?

Casey’s General Stores, Inc. (NASDAQ:CASY) reached a new 52-week high on Tuesday . The company traded as high as $647.99 and last traded at $643.43, with a volume of 30712 shares changing hands. The stock had previously closed at $640.41.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft set a $688.00 price objective on shares of Casey’s General Stores in a report on Thursday, January 8th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $530.00 price target on shares of Casey’s General Stores in a research note on Wednesday, December 10th. Evercore ISI increased their price target on shares of Casey’s General Stores from $585.00 to $610.00 and gave the company an “outperform” rating in a report on Tuesday, December 2nd. KeyCorp lifted their price objective on Casey’s General Stores from $600.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Royal Bank Of Canada increased their price target on Casey’s General Stores from $570.00 to $591.00 and gave the company a “sector perform” rating in a report on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $624.50.

Casey’s General Stores Price Performance

The firm has a market cap of $23.89 billion, a P/E ratio of 39.63, a PEG ratio of 2.26 and a beta of 0.67. The company has a current ratio of 1.05, a quick ratio of 0.65 and a debt-to-equity ratio of 0.62. The firm has a 50-day simple moving average of $566.17 and a 200-day simple moving average of $542.59.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Tuesday, December 9th. The company reported $5.53 earnings per share for the quarter, topping the consensus estimate of $4.92 by $0.61. Casey’s General Stores had a return on equity of 16.89% and a net margin of 3.58%.The business had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.51 billion. During the same quarter last year, the company earned $4.85 earnings per share. The company’s quarterly revenue was up 14.2% on a year-over-year basis. As a group, analysts forecast that Casey’s General Stores, Inc. will post 13.94 EPS for the current year.

Casey’s General Stores Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Sunday, February 1st will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Friday, January 30th. Casey’s General Stores’s dividend payout ratio (DPR) is 14.02%.

Insider Buying and Selling at Casey’s General Stores

In other news, Director Moats Maria Castanon acquired 300 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was acquired at an average price of $554.66 per share, for a total transaction of $166,398.00. Following the completion of the transaction, the director owned 803 shares in the company, valued at approximately $445,391.98. The trade was a 59.64% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Casey’s General Stores

Several institutional investors and hedge funds have recently modified their holdings of CASY. Perigon Wealth Management LLC purchased a new stake in shares of Casey’s General Stores in the fourth quarter valued at approximately $306,000. YHB Investment Advisors Inc. increased its holdings in Casey’s General Stores by 18.6% in the 4th quarter. YHB Investment Advisors Inc. now owns 3,724 shares of the company’s stock worth $2,058,000 after acquiring an additional 584 shares in the last quarter. Applied Capital LLC FL raised its position in Casey’s General Stores by 151.8% during the fourth quarter. Applied Capital LLC FL now owns 1,654 shares of the company’s stock worth $914,000 after acquiring an additional 997 shares during the period. Linden Thomas Advisory Services LLC lifted its holdings in Casey’s General Stores by 4.0% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 3,084 shares of the company’s stock valued at $1,705,000 after purchasing an additional 120 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of Casey’s General Stores in the fourth quarter valued at about $478,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.

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.