Casey's General Stores (NASDAQ:CASY) Sets New 12-Month High - Here's What Happened

Casey's General Stores, Inc. (NASDAQ:CASY - Get Free Report)'s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $468.88 and last traded at $457.33, with a volume of 346912 shares traded. The stock had previously closed at $464.41.

Analyst Upgrades and Downgrades

CASY has been the topic of several research reports. StockNews.com lowered shares of Casey's General Stores from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. KeyCorp began coverage on Casey's General Stores in a report on Friday, April 11th. They set an "overweight" rating and a $500.00 target price on the stock. Royal Bank of Canada set a $438.00 price objective on shares of Casey's General Stores and gave the company a "sector perform" rating in a research report on Wednesday, March 12th. Stephens raised shares of Casey's General Stores to a "strong-buy" rating in a report on Monday, April 7th. Finally, Evercore ISI raised their target price on Casey's General Stores from $450.00 to $460.00 and gave the company an "outperform" rating in a research note on Tuesday, April 1st. One equities 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 issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $430.33.

Casey's General Stores Stock Performance

The stock has a market capitalization of $16.62 billion, a price-to-earnings ratio of 31.20, a P/E/G ratio of 2.40 and a beta of 0.74. The company has a quick ratio of 0.49, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. The company's fifty day simple moving average is $421.46 and its 200 day simple moving average is $411.06.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its earnings results on Tuesday, March 11th. The company reported $2.33 earnings per share (EPS) 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 company 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. Casey's General Stores's quarterly revenue was up 17.2% on a year-over-year basis. On average, equities research analysts expect that Casey's General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey's General Stores Dividend Announcement

The firm 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 $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Thursday, May 1st. Casey's General Stores's dividend payout ratio is presently 13.94%.

Insider Transactions at Casey's General Stores

In other Casey's General Stores news, Director Mike Spanos acquired 256 shares of Casey's General Stores stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average price of $390.54 per share, with a total value of $99,978.24. Following the completion of the purchase, the director now directly owns 3,356 shares in the company, valued at $1,310,652.24. This trade represents a 8.26 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Katrina S. Lindsey sold 250 shares of the company'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 owns 2,443 shares in the company, valued at $1,067,615.43. This trade represents a 9.28 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.56% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. HighPoint Advisor Group LLC lifted its position in shares of Casey's General Stores by 1.7% during the fourth quarter. HighPoint Advisor Group LLC now owns 1,468 shares of the company's stock valued at $628,000 after purchasing an additional 25 shares in the last quarter. Burns J W & Co. Inc. NY boosted its holdings in shares of Casey's General Stores by 2.1% in the 1st quarter. Burns J W & Co. Inc. NY now owns 1,204 shares of the company's stock worth $522,000 after buying an additional 25 shares during the last quarter. Dark Forest Capital Management LP raised its position in Casey's General Stores by 3.2% in the fourth quarter. Dark Forest Capital Management LP now owns 902 shares of the company's stock worth $357,000 after acquiring an additional 28 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in shares of Casey's General Stores by 24.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 149 shares of the company's stock valued at $59,000 after acquiring an additional 29 shares during the period. Finally, Harbour Investments Inc. lifted its position in shares of Casey's General Stores by 3.1% during the 4th quarter. Harbour Investments Inc. now owns 1,002 shares of the company's stock valued at $397,000 after buying an additional 30 shares during the last quarter. 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.