Casey's General Stores (NASDAQ:CASY) Sets New 1-Year High - Should You Buy?

Key Points

• Casey's General Stores shares reached a new 52-week high, trading at $572.16, with a total volume of 56,607 shares on Tuesday.
• Analysts have raised their price targets for Casey's, with the consensus rating now at "Moderate Buy" and an average price target of $533.10.
• The company recently announced a quarterly dividend of $0.57, set to be paid on November 14th, reflecting a 0.4% yield.

Casey's General Stores, Inc. (NASDAQ:CASY - Get Free Report) shares hit a new 52-week high on Tuesday . The stock traded as high as $572.16 and last traded at $571.07, with a volume of 56607 shares. The stock had previously closed at $565.62.

Analysts Set New Price Targets

Several research analysts have commented on the company. Royal Bank Of Canada raised their price objective on Casey's General Stores from $468.00 to $542.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 9th. KeyCorp lifted their price target on Casey's General Stores from $550.00 to $575.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. BMO Capital Markets lifted their target price on 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. Weiss Ratings restated a "buy (b)" rating on shares of Casey's General Stores in a research note on Wednesday, October 8th. Finally, Stephens reaffirmed an "overweight" rating and set a $570.00 price target on shares of Casey's General Stores in a report on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Casey's General Stores currently has a consensus rating of "Moderate Buy" and a consensus price target of $533.10.

Casey's General Stores Stock Performance

The stock has a market cap of $21.19 billion, a P/E ratio of 36.65 and a beta of 0.68. The company has a fifty day moving average of $530.48 and a 200 day moving average of $495.09. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.03 and a quick ratio of 0.61.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings results on Monday, September 8th. The company reported $5.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.02 by $0.75. The company had revenue of $4.57 billion for the quarter, compared to analysts' expectations of $4.47 billion. Casey's General Stores had a return on equity of 16.73% and a net margin of 3.54%.The firm's revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.83 earnings per share. On average, equities analysts predict that Casey's General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey's General Stores Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Saturday, November 1st will be issued a $0.57 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $2.28 annualized dividend and a dividend yield of 0.4%. Casey's General Stores's dividend payout ratio is currently 14.63%.

Insider Activity

In other Casey's General Stores news, insider Chad Michael Frazell sold 3,487 shares of the company's stock in a transaction on Monday, September 29th. The stock was sold at an average price of $555.40, for a total value of $1,936,679.80. Following the transaction, the insider owned 7,993 shares of the company's stock, valued at approximately $4,439,312.20. This represents a 30.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.54% of the company's stock.

Hedge Funds Weigh In On Casey's General Stores

Several institutional investors and hedge funds have recently added to or reduced their stakes in CASY. GAMMA Investing LLC grew its position in Casey's General Stores by 25.7% during the 1st quarter. GAMMA Investing LLC now owns 1,253 shares of the company's stock worth $544,000 after purchasing an additional 256 shares in the last quarter. SG Americas Securities LLC grew its position in Casey's General Stores by 478.2% during the 1st quarter. SG Americas Securities LLC now owns 1,937 shares of the company's stock worth $841,000 after purchasing an additional 1,602 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Casey's General Stores by 11.6% during the 1st quarter. Fifth Third Bancorp now owns 1,829 shares of the company's stock valued at $794,000 after acquiring an additional 190 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Casey's General Stores by 12.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,237 shares of the company's stock valued at $1,405,000 after acquiring an additional 362 shares in the last quarter. Finally, Trust Point Inc. grew its holdings in shares of Casey's General Stores by 2.5% during the 1st quarter. Trust Point Inc. now owns 1,410 shares of the company's stock valued at $612,000 after acquiring an additional 35 shares in the last quarter. 85.63% of the stock is currently owned by hedge funds and other 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.

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