Casey’s General Stores (NASDAQ:CASY) Sets New 1-Year High – What’s Next?

Casey’s General Stores, Inc. (NASDAQ:CASY) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $401.12 and last traded at $400.69, with a volume of 112120 shares traded. The stock had previously closed at $391.13.

Analyst Ratings Changes

Several research analysts have commented on CASY shares. Benchmark reissued a “buy” rating and set a $410.00 price target on shares of Casey’s General Stores in a research note on Tuesday, September 10th. Wells Fargo & Company increased their target price on shares of Casey’s General Stores from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Royal Bank of Canada boosted their price target on shares of Casey’s General Stores from $393.00 to $403.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 5th. Melius Research initiated coverage on Casey’s General Stores in a research note on Monday, September 23rd. They set a “buy” rating and a $435.00 price objective on the stock. Finally, Northcoast Research upgraded Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $410.00 price objective on the stock in a report on Thursday, July 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $408.09.

Casey’s General Stores Price Performance

The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.44 and a current ratio of 0.84. The business has a 50-day simple moving average of $377.21 and a 200 day simple moving average of $361.79. The firm has a market cap of $14.78 billion, a P/E ratio of 29.00 and a beta of 0.80.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, topping analysts’ consensus estimates of $4.54 by $0.29. The company had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.15 billion. Casey’s General Stores had a return on equity of 17.07% and a net margin of 3.40%. The firm’s revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the firm posted $4.52 earnings per share. On average, analysts anticipate that Casey’s General Stores, Inc. will post 14.01 earnings per share for the current fiscal year.

Casey’s General Stores Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend is Friday, November 1st. Casey’s General Stores’s payout ratio is 14.56%.

Insider Buying and Selling

In other news, Director Mike Spanos acquired 267 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were acquired at an average cost of $376.18 per share, with a total value of $100,440.06. Following the transaction, the director now owns 2,594 shares in the company, valued at $975,810.92. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Mike Spanos bought 267 shares of the stock in a transaction dated Wednesday, September 18th. The stock was bought at an average price of $376.18 per share, for a total transaction of $100,440.06. Following the purchase, the director now directly owns 2,594 shares in the company, valued at $975,810.92. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas P. Brennan, Jr. sold 3,000 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $380.24, for a total value of $1,140,720.00. Following the completion of the sale, the insider now directly owns 9,044 shares in the company, valued at approximately $3,438,890.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.56% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CASY. River Road Asset Management LLC grew its holdings in Casey’s General Stores by 92.8% in the third quarter. River Road Asset Management LLC now owns 122,339 shares of the company’s stock worth $45,964,000 after purchasing an additional 58,883 shares during the period. Pittenger & Anderson Inc. boosted its position in shares of Casey’s General Stores by 5.7% in the 3rd quarter. Pittenger & Anderson Inc. now owns 1,485 shares of the company’s stock worth $558,000 after purchasing an additional 80 shares in the last quarter. QRG Capital Management Inc. purchased a new stake in shares of Casey’s General Stores in the 3rd quarter worth approximately $209,000. Van ECK Associates Corp grew its stake in shares of Casey’s General Stores by 40.0% in the 3rd quarter. Van ECK Associates Corp now owns 21,227 shares of the company’s stock worth $8,289,000 after buying an additional 6,066 shares during the last quarter. Finally, Prosperitas Financial LLC increased its position in Casey’s General Stores by 8.9% during the 3rd quarter. Prosperitas Financial LLC now owns 6,936 shares of the company’s stock valued at $2,606,000 after buying an additional 566 shares in the last quarter. 85.63% of the stock is currently owned by institutional investors.

About Casey’s General Stores

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.