Casey’s General Stores (NASDAQ:CASY) Sets New 1-Year High – Here’s What Happened
by Teresa Graham · The Cerbat GemCasey’s General Stores, Inc. (NASDAQ:CASY – Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as $587.32 and last traded at $588.86, with a volume of 67091 shares. The stock had previously closed at $573.61.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on CASY shares. Royal Bank Of Canada lifted their price target on shares of Casey’s General Stores from $570.00 to $591.00 and gave the company a “sector perform” rating in a report on Wednesday, December 10th. BMO Capital Markets upped their target price on shares of Casey’s General Stores from $515.00 to $540.00 and gave the company a “market perform” rating in a research note on Wednesday, September 10th. Stephens lifted their target price on Casey’s General Stores from $570.00 to $600.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Casey’s General Stores in a report on Monday, December 29th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Casey’s General Stores in a report on Thursday. They set a “buy” rating on the stock. Eight research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Casey’s General Stores currently has an average rating of “Moderate Buy” and a consensus target price of $585.67.
Get Our Latest Analysis on Casey’s General Stores
Casey’s General Stores Trading Up 2.5%
The company has a market cap of $21.79 billion, a P/E ratio of 36.15 and a beta of 0.67. The business has a fifty day simple moving average of $551.40 and a 200 day simple moving average of $536.45. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.65 and a current ratio of 1.05.
Casey’s General Stores (NASDAQ:CASY – Get Free Report) last posted its quarterly earnings results on Tuesday, December 9th. The company reported $5.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.92 by $0.61. The business had revenue of $4.51 billion for the quarter, compared to analyst estimates of $4.51 billion. Casey’s General Stores had a return on equity of 16.89% and a net margin of 3.58%.The business’s revenue was up 14.2% compared to the same quarter last year. During the same period in the prior year, the company posted $4.85 EPS. Analysts anticipate that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.
Casey’s General Stores Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Sunday, February 1st will be paid a dividend of $0.57 per share. The ex-dividend date is Friday, January 30th. This represents a $2.28 annualized dividend and a yield of 0.4%. Casey’s General Stores’s dividend payout ratio is 14.02%.
Insider Activity
In related news, Director Moats Maria Castanon bought 300 shares of the business’s stock in a transaction on Monday, January 5th. The shares were bought at an average cost of $554.66 per share, for a total transaction of $166,398.00. Following the completion of the purchase, the director owned 803 shares of the company’s stock, valued at $445,391.98. This represents a 59.64% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.54% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the business. Foster Dykema Cabot & Partners LLC bought a new position in Casey’s General Stores in the 3rd quarter valued at about $25,000. Westside Investment Management Inc. boosted its holdings in shares of Casey’s General Stores by 100.0% in the third quarter. Westside Investment Management Inc. now owns 46 shares of the company’s stock valued at $26,000 after acquiring an additional 23 shares in the last quarter. Central Pacific Bank Trust Division boosted its holdings in shares of Casey’s General Stores by 52.8% in the fourth quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock valued at $30,000 after acquiring an additional 19 shares in the last quarter. Nvwm LLC acquired a new position in shares of Casey’s General Stores during the second quarter valued at approximately $32,000. Finally, Atlantic Union Bankshares Corp bought a new stake in Casey’s General Stores during the third quarter worth approximately $33,000. Institutional investors and hedge funds 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.