Casey’s General Stores (NASDAQ:CASY) Hits New 1-Year High – Still a Buy?

Casey’s General Stores, Inc. (NASDAQ:CASY) shares reached a new 52-week high during trading on Thursday . The company traded as high as $440.06 and last traded at $436.48, with a volume of 20037 shares changing hands. The stock had previously closed at $435.35.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CASY shares. Gordon Haskett upgraded Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Thursday. Royal Bank of Canada increased their target price on shares of Casey’s General Stores from $403.00 to $428.00 and gave the company a “sector perform” rating in a research report on Tuesday, December 10th. Evercore ISI upped their price objective on shares of Casey’s General Stores from $460.00 to $470.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. StockNews.com cut Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Casey’s General Stores from $451.00 to $454.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $424.00.

Casey’s General Stores Price Performance

The firm has a market capitalization of $16.26 billion, a PE ratio of 30.51, a P/E/G ratio of 2.48 and a beta of 0.83. The company has a 50-day moving average price of $409.54 and a 200-day moving average price of $394.60. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.49.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Monday, December 9th. The company reported $4.85 EPS for the quarter, topping analysts’ consensus estimates of $4.29 by $0.56. The company had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $4.03 billion. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period last year, the business posted $4.24 EPS. Sell-side analysts forecast that Casey’s General Stores, Inc. will post 13.94 EPS for the current year.

Casey’s General Stores Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 17th. Stockholders of record on Monday, February 3rd will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Monday, February 3rd. Casey’s General Stores’s dividend payout ratio (DPR) is presently 13.94%.

Insider Activity at Casey’s General Stores

In other Casey’s General Stores news, insider Katrina S. Lindsey sold 450 shares of Casey’s General Stores stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $427.13, for a total value of $192,208.50. Following the completion of the transaction, the insider now directly owns 2,247 shares in the company, valued at $959,761.11. The trade was a 16.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mike Spanos bought 500 shares of the stock in a transaction dated Monday, December 23rd. The shares were bought at an average cost of $396.76 per share, with a total value of $198,380.00. Following the completion of the acquisition, the director now directly owns 3,097 shares of the company’s stock, valued at approximately $1,228,765.72. The trade was a 19.25 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On Casey’s General Stores

A number of hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new stake in shares of Casey’s General Stores in the 4th quarter worth about $236,500,000. Norges Bank acquired a new stake in shares of Casey’s General Stores in the fourth quarter valued at approximately $175,607,000. Wellington Management Group LLP boosted its position in shares of Casey’s General Stores by 160.1% during the fourth quarter. Wellington Management Group LLP now owns 428,201 shares of the company’s stock worth $169,666,000 after buying an additional 263,545 shares during the period. International Assets Investment Management LLC bought a new stake in Casey’s General Stores during the 3rd quarter valued at $959,880,000. Finally, Franklin Resources Inc. boosted its position in Casey’s General Stores by 49.9% during the 3rd quarter. Franklin Resources Inc. now owns 524,237 shares of the company’s stock worth $204,861,000 after acquiring an additional 174,586 shares during the period. 85.63% of the stock is currently owned by institutional investors.

Casey’s General Stores Company Profile

Casey’s General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.