Casey’s General Stores (NASDAQ:CASY) Sets New 12-Month High – Should You Buy?

Casey’s General Stores, Inc. (NASDAQ:CASY)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $440.06 and last traded at $436.48, with a volume of 20037 shares. The stock had previously closed at $435.35.

Analyst Ratings Changes

A number of brokerages recently issued reports on CASY. Royal Bank of Canada lifted their target price on Casey’s General Stores from $403.00 to $428.00 and gave the stock a “sector perform” rating in a report on Tuesday, December 10th. Evercore ISI increased their price objective on Casey’s General Stores from $460.00 to $470.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Gordon Haskett raised Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Thursday. BMO Capital Markets reaffirmed a “market perform” rating and issued a $450.00 target price (up from $400.00) on shares of Casey’s General Stores in a research report on Wednesday, December 18th. Finally, StockNews.com lowered Casey’s General Stores from a “buy” rating to a “hold” rating in a report on Monday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $424.00.

Casey’s General Stores Price Performance

The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.49 and a current ratio of 0.88. The stock has a 50 day moving average of $409.54 and a two-hundred day moving average of $394.60. The firm has a market capitalization of $16.26 billion, a P/E ratio of 30.51, a P/E/G ratio of 2.48 and a beta of 0.83.

Casey’s General Stores (NASDAQ:CASY) last issued its earnings results on Monday, December 9th. The company reported $4.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.29 by $0.56. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The company had revenue of $3.95 billion for the quarter, compared to analyst estimates of $4.03 billion. During the same quarter last year, the firm earned $4.24 EPS. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. Sell-side analysts predict that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 17th. Shareholders of record on Monday, February 3rd will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Monday, February 3rd. Casey’s General Stores’s dividend payout ratio is presently 13.94%.

Insider Buying and Selling at Casey’s General Stores

In related news, insider Katrina S. Lindsey sold 450 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $427.13, for a total value of $192,208.50. Following the sale, the insider now directly owns 2,247 shares in the company, valued at $959,761.11. This trade represents a 16.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mike Spanos acquired 500 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were purchased at an average price of $396.76 per share, with a total value of $198,380.00. Following the acquisition, the director now owns 3,097 shares of the company’s stock, valued at approximately $1,228,765.72. This trade represents a 19.25 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.56% of the company’s stock.

Institutional Trading of Casey’s General Stores

A number of large investors have recently made changes to their positions in the company. YANKCOM Partnership bought a new stake in Casey’s General Stores during the 4th quarter worth approximately $34,000. Endeavor Private Wealth Inc. acquired a new stake in shares of Casey’s General Stores in the fourth quarter valued at approximately $36,000. Venturi Wealth Management LLC lifted its position in shares of Casey’s General Stores by 941.7% in the third quarter. Venturi Wealth Management LLC now owns 125 shares of the company’s stock worth $47,000 after purchasing an additional 113 shares in the last quarter. V Square Quantitative Management LLC increased its stake in Casey’s General Stores by 22.5% in the 3rd quarter. V Square Quantitative Management LLC now owns 158 shares of the company’s stock valued at $59,000 after buying an additional 29 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in shares of Casey’s General Stores by 24.2% in the fourth 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 last quarter. Institutional investors own 85.63% of the company’s stock.

About Casey’s General Stores

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.