Casey’s General Stores (NASDAQ:CASY) Hits New 12-Month High – Here’s What Happened

Casey’s General Stores, Inc. (NASDAQ:CASY)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $836.71 and last traded at $833.3390, with a volume of 377410 shares trading hands. The stock had previously closed at $835.92.

Analysts Set New Price Targets

CASY has been the subject of a number of recent research reports. Royal Bank Of Canada boosted their target price on shares of Casey’s General Stores from $662.00 to $713.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 10th. Northcoast Research cut shares of Casey’s General Stores from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 21st. Stephens reissued an “overweight” rating and issued a $680.00 target price on shares of Casey’s General Stores in a research report on Tuesday, March 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Casey’s General Stores in a research report on Friday, March 27th. Finally, Wall Street Zen downgraded Casey’s General Stores from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Casey’s General Stores currently has a consensus rating of “Moderate Buy” and a consensus target price of $725.09.

Casey’s General Stores Stock Performance

The firm has a market cap of $31.87 billion, a price-to-earnings ratio of 49.50, a P/E/G ratio of 2.50 and a beta of 0.65. The stock has a 50 day moving average of $722.13 and a 200 day moving average of $629.96. The company has a quick ratio of 0.64, a current ratio of 1.04 and a debt-to-equity ratio of 0.61.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly 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 business had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $4.08 billion. Casey’s General Stores had a return on equity of 17.56% and a net margin of 3.83%.Casey’s General Stores’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.33 earnings per share. As a group, analysts anticipate that Casey’s General Stores, Inc. will post 18.16 EPS 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, May 15th. Investors of record on Friday, May 1st will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, May 1st. Casey’s General Stores’s payout ratio is 13.09%.

Insider Transactions at Casey’s General Stores

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC bought a new position in Casey’s General Stores in the first quarter valued at about $270,000. Westover Capital Advisors LLC grew its position in Casey’s General Stores by 2.7% in the first quarter. Westover Capital Advisors LLC now owns 3,857 shares of the company’s stock valued at $2,807,000 after acquiring an additional 101 shares during the last quarter. D.A. Davidson & CO. grew its position in Casey’s General Stores by 5.0% in the first quarter. D.A. Davidson & CO. now owns 6,681 shares of the company’s stock valued at $4,863,000 after acquiring an additional 316 shares during the last quarter. Illinois Municipal Retirement Fund grew its position in Casey’s General Stores by 11.9% in the first quarter. Illinois Municipal Retirement Fund now owns 20,519 shares of the company’s stock valued at $14,935,000 after acquiring an additional 2,183 shares during the last quarter. Finally, Journey Advisory Group LLC grew its position in Casey’s General Stores by 5.2% in the first quarter. Journey Advisory Group LLC now owns 9,264 shares of the company’s stock valued at $6,743,000 after acquiring an additional 461 shares during the last quarter. Institutional investors own 85.63% of the company’s stock.

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.