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

Casey's General Stores, Inc. (NASDAQ:CASY - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $401.12 and last traded at $400.69, with a volume of 112120 shares traded. The stock had previously closed at $391.13.

Wall Street Analyst Weigh In

Several analysts have commented on CASY shares. Wells Fargo & Company lifted their target price on shares of Casey's General Stores from $415.00 to $425.00 and gave the stock an "overweight" rating in a research note on Friday, September 6th. Evercore ISI increased their target price on Casey's General Stores from $435.00 to $440.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th. Benchmark reissued a "buy" rating and issued a $410.00 price target on shares of Casey's General Stores in a research note on Tuesday, September 10th. Melius Research assumed coverage on shares of Casey's General Stores in a research note on Monday, September 23rd. They set a "buy" rating and a $435.00 price objective for the company. Finally, Royal Bank of Canada increased their price objective on shares of Casey's General Stores from $393.00 to $403.00 and gave the stock a "sector perform" rating in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $408.09.

Casey's General Stores Stock Up 2.4 %

The firm's 50-day moving average price is $376.38 and its 200-day moving average price is $360.52. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.84 and a quick ratio of 0.44. The company has a market cap of $14.87 billion, a price-to-earnings ratio of 29.12 and a beta of 0.80.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its quarterly earnings data on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, topping analysts' consensus estimates of $4.54 by $0.29. Casey's General Stores had a return on equity of 17.07% and a net margin of 3.40%. The company had revenue of $4.10 billion for the quarter, compared to analysts' expectations of $4.15 billion. During the same quarter in the previous year, the firm posted $4.52 earnings per share. The firm's quarterly revenue was up 5.9% on a year-over-year basis. Sell-side analysts forecast that Casey's General Stores, Inc. will post 14.01 earnings per share for the current fiscal year.

Casey's General Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend is Friday, November 1st. Casey's General Stores's payout ratio is currently 14.89%.

Insider Transactions at Casey's General Stores

In other Casey's General Stores news, CEO Darren M. Rebelez sold 13,500 shares of Casey's General Stores stock in a transaction on Friday, September 6th. The shares were sold at an average price of $374.54, for a total value of $5,056,290.00. Following the completion of the transaction, the chief executive officer now owns 73,838 shares of the company's stock, valued at $27,655,284.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the company's stock in a transaction on Friday, September 6th. The stock was sold at an average price of $380.24, for a total transaction of $1,140,720.00. Following the completion of the transaction, the insider now directly owns 9,044 shares in the company, valued at $3,438,890.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Darren M. Rebelez sold 13,500 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $374.54, for a total transaction of $5,056,290.00. Following the completion of the sale, the chief executive officer now directly owns 73,838 shares in the company, valued at approximately $27,655,284.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.47% of the company's stock.

Hedge Funds Weigh In On Casey's General Stores

Several hedge funds and other institutional investors have recently made changes to their positions in CASY. Wealth Enhancement Advisory Services LLC raised its stake in shares of Casey's General Stores by 3.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,851 shares of the company's stock valued at $908,000 after purchasing an additional 103 shares in the last quarter. State of Michigan Retirement System increased its position in shares of Casey's General Stores by 2.2% during the 1st quarter. State of Michigan Retirement System now owns 9,121 shares of the company's stock valued at $2,905,000 after purchasing an additional 200 shares during the period. SeaCrest Wealth Management LLC acquired a new position in shares of Casey's General Stores during the 1st quarter valued at $225,000. Monument Capital Management lifted its holdings in shares of Casey's General Stores by 40.8% in the first quarter. Monument Capital Management now owns 7,821 shares of the company's stock valued at $2,490,000 after buying an additional 2,268 shares during the period. Finally, Norden Group LLC bought a new position in shares of Casey's General Stores during the 1st quarter valued at about $5,535,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.

About Casey's General Stores

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.

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