Casey’s General Stores (NASDAQ:CASY) Hits New 52-Week High – Here’s Why

Casey’s General Stores, Inc. (NASDAQ:CASY) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $748.00 and last traded at $749.7730, with a volume of 151 shares changing hands. The stock had previously closed at $743.42.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. KeyCorp reaffirmed an “overweight” rating and set a $700.00 price target on shares of Casey’s General Stores in a research report on Thursday, February 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of Casey’s General Stores in a research report on Friday, March 27th. Jefferies Financial Group upped their price target on Casey’s General Stores from $700.00 to $780.00 and gave the company a “buy” rating in a research note on Tuesday, March 10th. Wall Street Zen cut Casey’s General Stores from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Finally, Bank of America initiated coverage on Casey’s General Stores in a research report on Friday, January 9th. They set a “buy” rating for the company. Eight research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, Casey’s General Stores currently has an average rating of “Moderate Buy” and a consensus price target of $700.09.

Casey’s General Stores Price Performance

The company’s 50-day moving average price is $671.61 and its 200-day moving average price is $599.54. The company has a quick ratio of 0.64, a current ratio of 1.04 and a debt-to-equity ratio of 0.61. The firm has a market cap of $27.64 billion, a price-to-earnings ratio of 43.07, a PEG ratio of 2.42 and a beta of 0.61.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Monday, March 9th. The company reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $2.94 by $0.55. Casey’s General Stores had a net margin of 3.83% and a return on equity of 17.56%. The firm had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the previous year, the business posted $2.33 earnings per share. The business’s quarterly revenue was up .3% compared to the same quarter last year. On average, equities research analysts forecast 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 announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 1st will be issued a $0.57 dividend. The ex-dividend date is Friday, May 1st. This represents a $2.28 dividend on an annualized basis and a yield of 0.3%. Casey’s General Stores’s dividend payout ratio (DPR) is 13.09%.

Insider Activity

In other Casey’s General Stores news, insider Katrina S. Lindsey sold 200 shares of the company’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $683.04, for a total transaction of $136,608.00. Following the sale, the insider owned 4,039 shares in the company, valued at $2,758,798.56. This represents a 4.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mike Spanos acquired 300 shares of the firm’s stock in a transaction dated Friday, March 13th. The stock was bought at an average price of $665.43 per share, with a total value of $199,629.00. Following the purchase, the director directly owned 4,499 shares in the company, valued at approximately $2,993,769.57. This trade represents a 7.14% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.54% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Casey’s General Stores

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Foster Dykema Cabot & Partners LLC acquired a new position in shares of Casey’s General Stores during the third quarter worth $25,000. Westside Investment Management Inc. raised its stake in 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 buying an additional 23 shares in the last quarter. True Wealth Design LLC raised 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 buying an additional 42 shares in the last quarter. Central Pacific Bank Trust Division lifted its holdings in Casey’s General Stores by 52.8% during the 4th quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock worth $30,000 after buying an additional 19 shares during the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new position in shares of Casey’s General Stores during the 3rd quarter worth about $33,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.

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.