Casey’s General Stores (NASDAQ:CASY) Reaches New 1-Year High – Still a Buy?

Casey’s General Stores, Inc. (NASDAQ:CASY) reached a new 52-week high on Tuesday . The company traded as high as $727.37 and last traded at $722.5360, with a volume of 200438 shares traded. The stock had previously closed at $704.80.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CASY. Wall Street Zen downgraded Casey’s General Stores from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Wells Fargo & Company upped their price objective on shares of Casey’s General Stores from $725.00 to $745.00 and gave the company an “overweight” rating in a report on Tuesday, March 10th. Evercore set a $665.00 price objective on shares of Casey’s General Stores and gave the stock an “outperform” rating in a research report on Tuesday, February 24th. Bank of America assumed coverage on shares of Casey’s General Stores in a report on Friday, January 9th. They issued a “buy” rating on the stock. Finally, Zacks Research cut shares of Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 23rd. Eight analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $700.09.

Casey’s General Stores Stock Up 1.3%

The business has a 50-day moving average of $666.72 and a 200-day moving average of $596.63. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.64 and a current ratio of 1.04. The stock has a market capitalization of $27.25 billion, a price-to-earnings ratio of 42.32, a P/E/G ratio of 2.37 and a beta of 0.60.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Monday, March 9th. The company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $2.94 by $0.55. The company had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $4.08 billion. Casey’s General Stores had a net margin of 3.83% and a return on equity of 17.56%. During the same quarter in the prior year, the company posted $2.33 earnings per share. Casey’s General Stores’s revenue for the quarter was up .3% compared to the same quarter last year. On average, sell-side analysts expect that Casey’s General Stores, Inc. will post 13.94 EPS for the current year.

Casey’s General Stores Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 1st will be given a dividend of $0.57 per share. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is presently 13.09%.

Insider Activity at Casey’s General Stores

In other news, Director Mike Spanos bought 300 shares of the business’s stock in a transaction on Friday, March 13th. The shares were bought at an average price of $665.43 per share, with a total value of $199,629.00. Following the completion of the transaction, the director directly owned 4,499 shares in the company, valued at $2,993,769.57. This trade represents a 7.14% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Katrina S. Lindsey sold 200 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $683.04, for a total value of $136,608.00. Following the transaction, the insider owned 4,039 shares in the company, valued at $2,758,798.56. This trade represents a 4.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.54% of the stock is owned by insiders.

Hedge Funds Weigh In On Casey’s General Stores

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Menard Financial Group LLC boosted its stake in shares of Casey’s General Stores by 1.2% in the fourth quarter. Menard Financial Group LLC now owns 1,267 shares of the company’s stock valued at $700,000 after purchasing an additional 15 shares during the period. Cibc World Market Inc. lifted its holdings in Casey’s General Stores by 0.3% during the 4th quarter. Cibc World Market Inc. now owns 5,136 shares of the company’s stock worth $2,839,000 after buying an additional 16 shares in the last quarter. Steph & Co. lifted its holdings in Casey’s General Stores by 2.2% during the 3rd quarter. Steph & Co. now owns 819 shares of the company’s stock worth $463,000 after buying an additional 18 shares in the last quarter. LifeWealth Investments LLC boosted its position in Casey’s General Stores by 2.1% in the 3rd quarter. LifeWealth Investments LLC now owns 858 shares of the company’s stock valued at $485,000 after buying an additional 18 shares during the period. Finally, FSB Premier Wealth Management Inc. boosted its position in Casey’s General Stores by 0.8% in the 4th quarter. FSB Premier Wealth Management Inc. now owns 2,338 shares of the company’s stock valued at $1,292,000 after buying an additional 18 shares during the period. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

About Casey’s General Stores

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.