Casey’s General Stores (NASDAQ:CASY) Hits New 12-Month High – Time to Buy?

Casey’s General Stores, Inc. (NASDAQ:CASY) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $615.50 and last traded at $616.9090, with a volume of 12539 shares traded. The stock had previously closed at $604.63.

Analysts Set New Price Targets

CASY has been the subject of several recent research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Casey’s General Stores in a report on Monday, December 29th. UBS Group restated a “neutral” rating on shares of Casey’s General Stores in a report on Thursday, December 11th. The Goldman Sachs Group reissued a “neutral” rating and set a $530.00 target price on shares of Casey’s General Stores in a research note on Wednesday, December 10th. Zacks Research raised Casey’s General Stores from a “hold” rating to a “strong-buy” rating in a report on Monday. Finally, Evercore ISI boosted their target price on shares of Casey’s General Stores from $585.00 to $610.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 2nd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Casey’s General Stores presently has an average rating of “Moderate Buy” and a consensus target price of $595.90.

Casey’s General Stores Stock Up 2.6%

The stock’s 50 day simple moving average is $557.78 and its 200 day simple moving average is $539.17. The stock has a market capitalization of $22.99 billion, a P/E ratio of 38.16, a P/E/G ratio of 2.13 and a beta of 0.67. 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 posted its earnings results on Tuesday, December 9th. The company reported $5.53 EPS for the quarter, beating 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 firm had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.51 billion. During the same period last year, the firm earned $4.85 EPS. The firm’s revenue was up 14.2% compared to the same quarter last year. As a group, research analysts predict that Casey’s General Stores, Inc. will post 13.94 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, February 13th. Investors of record on Sunday, February 1st will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, January 30th. Casey’s General Stores’s payout ratio is 14.02%.

Insider Buying and Selling at Casey’s General Stores

In related news, Director Moats Maria Castanon acquired 300 shares of the business’s stock in a transaction on Monday, January 5th. The stock was bought at an average cost of $554.66 per share, with a total value of $166,398.00. Following the completion of the acquisition, the director owned 803 shares in the company, valued at $445,391.98. The trade was a 59.64% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Casey’s General Stores

Several large investors have recently made changes to their positions in CASY. Foster Dykema Cabot & Partners LLC purchased a new position in shares of Casey’s General Stores in the 3rd quarter worth approximately $25,000. Westside Investment Management Inc. boosted its stake in Casey’s General Stores by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 46 shares of the company’s stock worth $26,000 after purchasing an additional 23 shares during the period. Central Pacific Bank Trust Division boosted its holdings in 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 grew its holdings 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 worth $30,000 after purchasing an additional 42 shares in the last quarter. Finally, Nvwm LLC purchased a new stake in shares of Casey’s General Stores during the 2nd quarter valued at $32,000. Institutional investors and hedge funds 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.