Casey's General Stores (NASDAQ:CASY) Hits New 52-Week High - Here's Why

Casey's General Stores, Inc. (NASDAQ:CASY - Get Free Report)'s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $514.32 and last traded at $512.53, with a volume of 152249 shares trading hands. The stock had previously closed at $510.43.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. The Goldman Sachs Group boosted their price objective on shares of Casey's General Stores from $385.00 to $450.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 11th. Evercore ISI boosted their price target on shares of Casey's General Stores from $450.00 to $460.00 and gave the company an "outperform" rating in a research report on Tuesday, April 1st. Stephens restated an "overweight" rating and issued a $490.00 price objective on shares of Casey's General Stores in a research note on Tuesday, June 10th. Wall Street Zen upgraded Casey's General Stores from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Finally, Wells Fargo & Company boosted their target price on Casey's General Stores from $460.00 to $540.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $453.00.

Casey's General Stores Stock Up 0.1%

The company has a market capitalization of $18.96 billion, a price-to-earnings ratio of 34.90, a PEG ratio of 2.50 and a beta of 0.65. The company has a current ratio of 0.92, a quick ratio of 0.48 and a debt-to-equity ratio of 0.69. The firm's 50 day simple moving average is $461.37 and its 200-day simple moving average is $430.07.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings results on Monday, June 9th. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.69. Casey's General Stores had a net margin of 3.43% and a return on equity of 16.28%. The firm had revenue of $3.99 billion during the quarter, compared to analysts' expectations of $3.95 billion. During the same period in the prior year, the company posted $2.34 earnings per share. The firm's revenue for the quarter was up 10.9% on a year-over-year basis. On average, sell-side analysts anticipate that Casey's General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey's General Stores Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be given a $0.57 dividend. This is a boost from Casey's General Stores's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, August 1st. This represents a $2.28 annualized dividend and a yield of 0.45%. Casey's General Stores's dividend payout ratio is presently 15.57%.

Insiders Place Their Bets

In other Casey's General Stores news, insider Katrina S. Lindsey sold 250 shares of the business's stock in a transaction on Friday, April 4th. The stock was sold at an average price of $437.01, for a total transaction of $109,252.50. Following the sale, the insider now directly owns 2,443 shares in the company, valued at approximately $1,067,615.43. The trade was a 9.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Allison M. Wing sold 1,000 shares of the business's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $502.16, for a total transaction of $502,160.00. Following the completion of the sale, the director now owns 3,058 shares in the company, valued at $1,535,605.28. This represents a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,136 shares of company stock worth $21,860,121. Corporate insiders own 0.56% of the company's stock.

Institutional Investors Weigh In On Casey's General Stores

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc acquired a new stake in shares of Casey's General Stores during the first quarter valued at $25,000. Global Financial Private Client LLC lifted its holdings in Casey's General Stores by 325.0% in the 1st quarter. Global Financial Private Client LLC now owns 68 shares of the company's stock valued at $30,000 after purchasing an additional 52 shares in the last quarter. Summit Securities Group LLC purchased a new position in Casey's General Stores in the 1st quarter valued at about $32,000. Iron Horse Wealth Management LLC grew its holdings in shares of Casey's General Stores by 40.0% during the first quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company's stock worth $40,000 after buying an additional 26 shares in the last quarter. Finally, WPG Advisers LLC purchased a new position in shares of Casey's General Stores during the first quarter valued at approximately $47,000. Hedge funds and other institutional investors own 85.63% of the company's stock.

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.

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