Casey’s General Stores (NASDAQ:CASY) Hits New 52-Week High on Analyst Upgrade

Casey’s General Stores, Inc. (NASDAQ:CASY) shares reached a new 52-week high during 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 changing hands. The stock had previously closed at $440.63.

Several other equities research analysts have also issued reports on CASY. BMO Capital Markets reaffirmed a “market perform” rating and issued a $450.00 price objective (up from $400.00) on shares of Casey’s General Stores in a research note on Wednesday, December 18th. Gordon Haskett upgraded shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. StockNews.com downgraded Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Finally, Royal Bank of Canada set a $438.00 price target on Casey’s General Stores and gave the company a “sector perform” rating in a report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $424.00.

Insider Activity

In other Casey’s General Stores news, Director Mike Spanos acquired 256 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were bought at an average cost of $390.54 per share, with a total value of $99,978.24. Following the completion of the acquisition, the director now owns 3,356 shares in the company, valued at approximately $1,310,652.24. This trade represents a 8.26 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On Casey’s General Stores

Several large investors have recently bought and sold shares of CASY. YANKCOM Partnership purchased a new stake in Casey’s General Stores in the 4th quarter valued at $34,000. Endeavor Private Wealth Inc. acquired a new stake in shares of Casey’s General Stores during the 4th quarter worth about $36,000. MassMutual Private Wealth & Trust FSB raised its holdings in Casey’s General Stores by 24.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 149 shares of the company’s stock valued at $59,000 after buying an additional 29 shares during the period. Heck Capital Advisors LLC purchased a new position in Casey’s General Stores during the fourth quarter worth about $79,000. Finally, V Square Quantitative Management LLC increased its position in shares of Casey’s General Stores by 32.9% during the fourth quarter. V Square Quantitative Management LLC now owns 210 shares of the company’s stock valued at $83,000 after acquiring an additional 52 shares during the last quarter. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Casey’s General Stores Stock Performance

The company has a current ratio of 0.88, a quick ratio of 0.49 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $16.48 billion, a price-to-earnings ratio of 30.93, a price-to-earnings-growth ratio of 2.40 and a beta of 0.87. The firm’s fifty day moving average price is $415.81 and its 200 day moving average price is $404.26.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Tuesday, March 11th. The company reported $2.33 EPS for the quarter, beating the consensus estimate 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 business had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.74 billion. During the same quarter last year, the firm posted $2.33 earnings per share. The business’s revenue for the quarter was up 17.2% compared to the same quarter last year. Analysts forecast that Casey’s General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be given a dividend of $0.50 per share. 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%.

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.