Casey's General Stores (NASDAQ:CASY) Reaches New 52-Week High - What's Next?

Shares of Casey's General Stores, Inc. (NASDAQ:CASY - Get Free Report) hit 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 trading hands. The stock had previously closed at $458.65.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Gordon Haskett upgraded Casey's General Stores from a "hold" rating to a "buy" rating in a research report on Thursday, February 13th. KeyCorp initiated coverage on shares of Casey's General Stores in a report on Friday, April 11th. They set an "overweight" rating and a $500.00 price target for the company. Stephens upgraded shares of Casey's General Stores to a "strong-buy" rating in a report on Monday, April 7th. Royal Bank of Canada set a $438.00 target price on shares of Casey's General Stores and gave the stock a "sector perform" rating in a report on Wednesday, March 12th. Finally, StockNews.com downgraded Casey's General Stores from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $430.33.

Casey's General Stores Trading Down 2.3 %

The firm has a 50 day moving average of $430.61 and a 200 day moving average of $417.29. The firm has a market cap of $16.90 billion, a PE ratio of 31.73, a P/E/G ratio of 2.40 and a beta of 0.70. The company has a quick ratio of 0.49, a current ratio of 0.88 and a debt-to-equity ratio of 0.74.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its quarterly earnings results on Tuesday, March 11th. The company reported $2.33 EPS for the quarter, beating analysts' consensus estimates of $1.76 by $0.57. Casey's General Stores had a return on equity of 17.17% and a net margin of 3.57%. The firm had revenue of $3.90 billion for the quarter, compared to analysts' expectations of $3.74 billion. During the same quarter in the prior year, the firm earned $2.33 EPS. The business's revenue for the quarter was up 17.2% compared to the same quarter last year. Equities analysts anticipate that Casey's General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey's General Stores Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Thursday, May 1st. Casey's General Stores's payout ratio is presently 13.94%.

Insider Buying and Selling

In other news, insider Katrina S. Lindsey sold 250 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $437.01, for a total value of $109,252.50. Following the transaction, the insider now owns 2,443 shares in the company, valued at approximately $1,067,615.43. This trade represents a 9.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mike Spanos purchased 256 shares of Casey's General Stores stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $390.54 per share, for a total transaction of $99,978.24. Following the acquisition, the director now owns 3,356 shares in the company, valued at $1,310,652.24. This trade 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 company insiders.

Institutional Investors Weigh In On Casey's General Stores

A number of institutional investors have recently made changes to their positions in the company. Vestcor Inc increased its holdings in shares of Casey's General Stores by 14.8% in the 1st quarter. Vestcor Inc now owns 1,718 shares of the company's stock worth $746,000 after purchasing an additional 221 shares in the last quarter. Meeder Advisory Services Inc. bought a new stake in Casey's General Stores in the 1st quarter worth about $229,000. JSF Financial LLC purchased a new position in Casey's General Stores in the 1st quarter worth about $1,004,000. Foundations Investment Advisors LLC purchased a new stake in shares of Casey's General Stores during the 1st quarter valued at about $207,000. Finally, Maridea Wealth Management LLC purchased a new stake in Casey's General Stores during the 1st quarter valued at $328,000. 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.