Casey's General Stores (NASDAQ:CASY) Hits New 12-Month High - Should You Buy?

Shares of Casey's General Stores, Inc. (NASDAQ:CASY - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $469.55 and last traded at $468.59, with a volume of 72932 shares. The stock had previously closed at $458.65.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CASY. StockNews.com cut Casey's General Stores from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. Stephens upgraded shares of Casey's General Stores to a "strong-buy" rating in a research report on Monday, April 7th. Evercore ISI boosted their target price on shares of Casey's General Stores from $450.00 to $460.00 and gave the company an "outperform" rating in a report on Tuesday, April 1st. Gordon Haskett upgraded shares of Casey's General Stores from a "hold" rating to a "buy" rating in a report on Thursday, February 13th. Finally, Royal Bank of Canada set a $438.00 price objective on Casey's General Stores and gave the company a "sector perform" rating in a report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $430.33.

Casey's General Stores Stock Performance

The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.49 and a current ratio of 0.88. The company has a market capitalization of $16.58 billion, a price-to-earnings ratio of 31.13, a P/E/G ratio of 2.40 and a beta of 0.70. The firm has a 50-day simple moving average of $432.29 and a two-hundred day simple moving average of $418.29.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings data on Tuesday, March 11th. The company reported $2.33 earnings per share for the quarter, beating analysts' consensus estimates of $1.76 by $0.57. Casey's General Stores had a net margin of 3.57% and a return on equity of 17.17%. The firm had revenue of $3.90 billion during the quarter, compared to analysts' expectations of $3.74 billion. During the same quarter in the previous year, the business posted $2.33 earnings per share. The business's quarterly revenue was up 17.2% compared to the same quarter last year. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Thursday, May 1st. Casey's General Stores's payout ratio is currently 13.94%.

Insider Buying and Selling

In other news, insider Katrina S. Lindsey sold 250 shares of the business's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $437.01, for a total transaction of $109,252.50. Following the completion of the transaction, the insider now directly owns 2,443 shares of the company's stock, valued at approximately $1,067,615.43. The trade was a 9.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mike Spanos bought 256 shares of Casey's General Stores stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average cost of $390.54 per share, for a total transaction of $99,978.24. Following the acquisition, the director now owns 3,356 shares of the company's stock, valued at $1,310,652.24. This represents a 8.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.56% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Versant Capital Management Inc acquired a new position in Casey's General Stores in the first quarter valued at approximately $25,000. Global Financial Private Client LLC grew its position in shares of 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 buying an additional 52 shares during the last quarter. YANKCOM Partnership acquired a new stake in Casey's General Stores during the 4th quarter worth $34,000. Endeavor Private Wealth Inc. purchased a new stake in Casey's General Stores in the fourth quarter valued at $36,000. Finally, 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 purchasing an additional 26 shares during the last quarter. 85.63% of the stock is owned by institutional investors and hedge funds.

About Casey's General Stores

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.