Casey’s General Stores (CASY) Sets New 12-Month High at $132.65

Shares of Casey’s General Stores Inc (NASDAQ:CASY) reached a new 52-week high on Wednesday . The company traded as high as $132.65 and last traded at $132.47, with a volume of 93542 shares traded. The stock had previously closed at $129.13.

CASY has been the subject of a number of recent research reports. BidaskClub raised Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Tuesday, July 24th. Royal Bank of Canada set a $130.00 price target on Casey’s General Stores and gave the company a “hold” rating in a report on Wednesday, September 12th. ValuEngine raised Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Wednesday, August 22nd. BMO Capital Markets raised their price target on Casey’s General Stores from $92.00 to $96.00 and gave the company a “hold” rating in a report on Thursday, August 23rd. Finally, Jefferies Financial Group set a $134.00 price target on Casey’s General Stores and gave the company a “buy” rating in a report on Wednesday, August 22nd. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $133.89.

The company has a debt-to-equity ratio of 0.99, a current ratio of 0.77 and a quick ratio of 0.27. The firm has a market cap of $4.68 billion, a P/E ratio of 34.73, a P/E/G ratio of 3.24 and a beta of 0.51.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Monday, September 10th. The company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.67 by $0.23. The business had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.57 billion. Casey’s General Stores had a return on equity of 12.38% and a net margin of 3.73%. The company’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same period last year, the firm earned $1.46 EPS. Research analysts anticipate that Casey’s General Stores Inc will post 4.65 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, November 1st will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Wednesday, October 31st. Casey’s General Stores’s payout ratio is currently 30.45%.

In related news, SVP Brian Joseph Johnson sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $127.43, for a total value of $191,145.00. Following the completion of the transaction, the senior vice president now directly owns 10,471 shares of the company’s stock, valued at approximately $1,334,319.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.72% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CASY. Northwest Wealth Management LLC increased its position in Casey’s General Stores by 43.5% during the third quarter. Northwest Wealth Management LLC now owns 1,650 shares of the company’s stock worth $213,000 after buying an additional 500 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Casey’s General Stores by 3.3% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 17,223 shares of the company’s stock worth $2,224,000 after buying an additional 558 shares in the last quarter. Advisors Capital Management LLC increased its position in Casey’s General Stores by 3.0% during the third quarter. Advisors Capital Management LLC now owns 21,009 shares of the company’s stock worth $2,712,000 after buying an additional 612 shares in the last quarter. Arizona State Retirement System increased its position in Casey’s General Stores by 2.5% during the second quarter. Arizona State Retirement System now owns 26,060 shares of the company’s stock worth $2,738,000 after buying an additional 637 shares in the last quarter. Finally, Macquarie Group Ltd. increased its position in Casey’s General Stores by 0.6% during the second quarter. Macquarie Group Ltd. now owns 121,063 shares of the company’s stock worth $12,721,000 after buying an additional 664 shares in the last quarter. 95.88% of the stock is owned by hedge funds and other institutional investors.

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About Casey’s General Stores (NASDAQ:CASY)

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. The company's stores offer a selection of food, including freshly prepared foods, such as pizza, donuts, and sandwiches; beverage and tobacco products; health and beauty aids; automotive products; school supplies, housewares, and pet supplies; and other nonfood items.

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