Casey’s General Stores (NASDAQ:CASY) Sets New 52-Week High – Time to Buy?

Casey’s General Stores, Inc. (NASDAQ:CASY)’s stock price reached 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.

Analyst Ratings Changes

A number of research firms recently issued reports on CASY. Weiss Ratings reiterated a “buy (b)” rating on shares of Casey’s General Stores in a research note on Friday, March 27th. Zacks Research upgraded Casey’s General Stores from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 23rd. JPMorgan Chase & Co. began coverage on Casey’s General Stores in a research note on Thursday, March 26th. They set a “neutral” rating and a $719.00 price objective on the stock. Northcoast Research lowered Casey’s General Stores from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 21st. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $700.00 price objective on shares of Casey’s General Stores in a research note on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $725.09.

Casey’s General Stores Price Performance

The stock has a market capitalization of $31.50 billion, a PE ratio of 48.91, a PEG ratio of 2.45 and a beta of 0.65. The business has a fifty day moving average price of $718.23 and a 200-day moving average price of $627.86. The company has a current ratio of 1.04, a quick ratio of 0.64 and a debt-to-equity ratio of 0.61.

Casey’s General Stores (NASDAQ:CASY) last issued its earnings results on Monday, March 9th. The company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $2.94 by $0.55. The company had revenue of $3.92 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.33 EPS. Research analysts expect 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 announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 1st will be issued a dividend of $0.57 per share. The ex-dividend date is Friday, May 1st. This represents a $2.28 annualized dividend and a yield of 0.3%. Casey’s General Stores’s dividend payout ratio is currently 13.09%.

Insider Activity at Casey’s General Stores

In other Casey’s General Stores news, Director Mike Spanos acquired 300 shares of the company’s stock in a transaction on Friday, March 13th. The stock was acquired at an average price of $665.43 per share, for a total transaction of $199,629.00. Following the acquisition, the director owned 4,499 shares in the company, valued at $2,993,769.57. This represents a 7.14% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Katrina S. Lindsey sold 200 shares of the stock in a transaction that occurred 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 completion of the sale, the insider owned 4,039 shares of the company’s stock, valued at approximately $2,758,798.56. This trade represents a 4.72% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Kathmere Capital Management LLC raised its position in shares of Casey’s General Stores by 3.5% in the 1st quarter. Kathmere Capital Management LLC now owns 387 shares of the company’s stock worth $282,000 after acquiring an additional 13 shares in the last quarter. Pinnacle Bancorp Inc. raised its position in shares of Casey’s General Stores by 4.8% in the 1st quarter. Pinnacle Bancorp Inc. now owns 303 shares of the company’s stock worth $221,000 after acquiring an additional 14 shares in the last quarter. Menard Financial Group LLC raised its position in shares of Casey’s General Stores by 1.2% in the 4th quarter. Menard Financial Group LLC now owns 1,267 shares of the company’s stock worth $700,000 after acquiring an additional 15 shares in the last quarter. Cibc World Market Inc. raised its position in shares of Casey’s General Stores by 0.3% in the 4th quarter. Cibc World Market Inc. now owns 5,136 shares of the company’s stock worth $2,839,000 after acquiring an additional 16 shares in the last quarter. Finally, FSB Premier Wealth Management Inc. raised its position in shares of 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 worth $1,292,000 after acquiring an additional 18 shares in the last quarter. 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.