Casey’s General Stores (NASDAQ:CASY) Sets New 1-Year High at $289.97

Casey’s General Stores, Inc. (NASDAQ:CASYGet Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $289.97 and last traded at $289.97, with a volume of 141260 shares trading hands. The stock had previously closed at $287.52.

Wall Street Analyst Weigh In

Several research analysts recently commented on CASY shares. Royal Bank of Canada raised their target price on Casey’s General Stores from $291.00 to $296.00 and gave the stock a “sector perform” rating in a research report on Tuesday, December 12th. BMO Capital Markets lowered shares of Casey’s General Stores from an “outperform” rating to a “market perform” rating and set a $290.00 target price on the stock. in a research report on Friday, December 8th. Benchmark reissued a “buy” rating and issued a $312.00 price target on shares of Casey’s General Stores in a research report on Wednesday. Stephens lifted their price objective on Casey’s General Stores from $305.00 to $340.00 and gave the company an “overweight” rating in a report on Wednesday, December 13th. Finally, StockNews.com cut Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 7th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $285.22.

Read Our Latest Research Report on Casey’s General Stores

Casey’s General Stores Stock Performance

The stock has a market capitalization of $10.65 billion, a price-to-earnings ratio of 22.22, a price-to-earnings-growth ratio of 2.14 and a beta of 0.79. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.06 and a quick ratio of 0.62. The stock has a 50-day moving average of $278.10 and a 200 day moving average of $265.17.

Casey’s General Stores (NASDAQ:CASYGet Free Report) last posted its quarterly earnings results on Tuesday, December 12th. The company reported $4.24 earnings per share for the quarter, beating analysts’ consensus estimates of $3.80 by $0.44. The company had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $4.06 billion. Casey’s General Stores had a return on equity of 17.28% and a net margin of 3.32%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.67 EPS. On average, analysts expect that Casey’s General Stores, Inc. will post 12.64 EPS for the current year.

Casey’s General Stores Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st will be issued a $0.43 dividend. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a $1.72 annualized dividend and a yield of 0.60%. Casey’s General Stores’s dividend payout ratio (DPR) is presently 13.31%.

Insider Transactions at Casey’s General Stores

In related news, insider Thomas P. Brennan, Jr. sold 1,430 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $276.11, for a total value of $394,837.30. Following the completion of the sale, the insider now owns 7,375 shares in the company, valued at approximately $2,036,311.25. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Thomas P. Brennan, Jr. sold 1,430 shares of Casey’s General Stores stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $276.11, for a total transaction of $394,837.30. Following the transaction, the insider now owns 7,375 shares in the company, valued at approximately $2,036,311.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mike Spanos bought 725 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The shares were acquired at an average cost of $275.43 per share, with a total value of $199,686.75. Following the completion of the purchase, the director now owns 1,791 shares in the company, valued at approximately $493,295.13. The disclosure for this purchase can be found here. Insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On Casey’s General Stores

Institutional investors and hedge funds have recently modified their holdings of the stock. Alaska Permanent Fund Corp bought a new stake in shares of Casey’s General Stores during the second quarter worth approximately $25,000. Massmutual Trust Co. FSB ADV boosted its stake in Casey’s General Stores by 100.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 106 shares of the company’s stock valued at $26,000 after purchasing an additional 53 shares during the period. BKM Wealth Management LLC acquired a new position in Casey’s General Stores in the 4th quarter valued at $29,000. Money Concepts Capital Corp increased its position in Casey’s General Stores by 62.7% during the 4th quarter. Money Concepts Capital Corp now owns 122 shares of the company’s stock worth $27,000 after buying an additional 47 shares during the period. Finally, Global Retirement Partners LLC boosted its position in shares of Casey’s General Stores by 49.4% in the second quarter. Global Retirement Partners LLC now owns 124 shares of the company’s stock valued at $30,000 after acquiring an additional 41 shares during the period. 85.43% of the stock is currently owned by institutional investors and hedge funds.

About Casey’s General Stores

(Get Free Report)

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.

Further Reading

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