Casey's General Stores (NASDAQ:CASY) Hits New 1-Year High Following Analyst Upgrade

Casey's General Stores, Inc. (NASDAQ:CASY - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday after Evercore ISI raised their price target on the stock from $450.00 to $460.00. Evercore ISI currently has an outperform rating on the stock. Casey's General Stores traded as high as $446.60 and last traded at $441.89, with a volume of 65958 shares trading hands. The stock had previously closed at $440.63.

Several other research analysts also recently commented on the company. StockNews.com downgraded Casey's General Stores from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. Gordon Haskett upgraded shares of Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. 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 research note on Wednesday, March 12th. Finally, BMO Capital Markets reiterated a "market perform" rating and set a $450.00 price target (up previously from $400.00) on shares of Casey's General Stores in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $424.00.

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Insider Activity at Casey's General Stores

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

Hedge Funds Weigh In On Casey's General Stores

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of Casey's General Stores in the 4th quarter worth about $236,500,000. GAMMA Investing LLC increased its stake in shares of Casey's General Stores by 54,448.8% during the first quarter. GAMMA Investing LLC now owns 543,852 shares of the company's stock valued at $236,054,000 after purchasing an additional 542,855 shares in the last quarter. Norges Bank bought a new stake in shares of Casey's General Stores in the 4th quarter worth approximately $175,607,000. Wellington Management Group LLP grew its stake in shares of Casey's General Stores by 160.1% in the 4th quarter. Wellington Management Group LLP now owns 428,201 shares of the company's stock worth $169,666,000 after buying an additional 263,545 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in Casey's General Stores by 49.9% during the 3rd quarter. Franklin Resources Inc. now owns 524,237 shares of the company's stock valued at $204,861,000 after buying an additional 174,586 shares in the last quarter. Hedge funds and other institutional investors own 85.63% of the company's stock.

Casey's General Stores Trading Up 0.5 %

The stock has a 50-day moving average of $416.73 and a two-hundred day moving average of $405.25. The company has a market cap of $15.52 billion, a P/E ratio of 29.13, a price-to-earnings-growth ratio of 2.40 and a beta of 0.74. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.49 and a current ratio of 0.88.

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

Casey's General Stores Announces Dividend

The company also recently announced 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. The ex-dividend date is Thursday, May 1st. This represents a $2.00 annualized dividend and a dividend yield of 0.48%. Casey's General Stores's dividend payout ratio is presently 13.94%.

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.