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

Casey’s General Stores, Inc. (NASDAQ:CASY)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $666.28 and last traded at $658.96, with a volume of 290542 shares traded. The stock had previously closed at $660.90.

Analyst Ratings Changes

Several research analysts have commented on the stock. Bank of America initiated coverage on shares of Casey’s General Stores in a research note on Friday, January 9th. They set a “buy” rating on the stock. Wall Street Zen cut shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Wells Fargo & Company boosted their price target on shares of Casey’s General Stores from $610.00 to $625.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. UBS Group restated a “neutral” rating on shares of Casey’s General Stores in a research report on Thursday, December 11th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $700.00 price objective on shares of Casey’s General Stores in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $615.50.

Casey’s General Stores Stock Performance

The business has a fifty day moving average of $595.21 and a 200-day moving average of $556.63. The company has a market cap of $24.61 billion, a PE ratio of 40.83, a P/E/G ratio of 2.29 and a beta of 0.68. The company has a current ratio of 1.05, a quick ratio of 0.65 and a debt-to-equity ratio of 0.62.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data 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 analysts’ expectations of $4.51 billion. During the same quarter last year, the business posted $4.85 EPS. The business’s revenue was up 14.2% on a year-over-year basis. Equities research analysts anticipate that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Sunday, February 1st will be issued a $0.57 dividend. The ex-dividend date is Friday, January 30th. This represents a $2.28 annualized dividend and a yield of 0.3%. Casey’s General Stores’s payout ratio is 14.02%.

Insider Transactions at Casey’s General Stores

In related 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 cost of $554.66 per share, for a total transaction of $166,398.00. Following the acquisition, the director owned 803 shares of the company’s stock, valued at $445,391.98. This trade represents a 59.64% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Casey’s General Stores

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Foster Dykema Cabot & Partners LLC purchased a new stake in Casey’s General Stores in the third quarter worth about $25,000. Westside Investment Management Inc. lifted its stake in shares of Casey’s General Stores by 100.0% in the 3rd 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 lifted its stake in shares of Casey’s General Stores by 52.8% in the 4th 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 period. True Wealth Design LLC boosted its position in shares of Casey’s General Stores by 350.0% during 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 in the last quarter. Finally, Nvwm LLC purchased a new stake in Casey’s General Stores in the second quarter worth $32,000. 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.