Casey’s General Stores (NASDAQ:CASY) Reaches New 12-Month High at $325.74

Casey’s General Stores, Inc. (NASDAQ:CASY)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $325.74 and last traded at $325.45, with a volume of 4759 shares changing hands. The stock had previously closed at $323.20.

Wall Street Analysts Forecast Growth

CASY has been the subject of a number of research reports. BMO Capital Markets lifted their price objective on shares of Casey’s General Stores from $290.00 to $305.00 and gave the company a “market perform” rating in a report on Wednesday, March 13th. Evercore ISI cut their price target on Casey’s General Stores from $350.00 to $345.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 16th. Wells Fargo & Company upped their price objective on Casey’s General Stores from $305.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Benchmark reissued a “buy” rating and set a $312.00 target price on shares of Casey’s General Stores in a research report on Wednesday, March 6th. Finally, StockNews.com downgraded Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 21st. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $312.63.

Casey’s General Stores Price Performance

The business has a 50-day moving average price of $312.20 and a 200 day moving average price of $290.69. The company has a market cap of $12.32 billion, a price-to-earnings ratio of 26.07, a P/E/G ratio of 2.28 and a beta of 0.82. The company has a current ratio of 0.89, a quick ratio of 0.42 and a debt-to-equity ratio of 0.54.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Tuesday, March 12th. The company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.13. Casey’s General Stores had a return on equity of 16.70% and a net margin of 3.23%. The firm had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.51 billion. During the same quarter last year, the business posted $2.36 EPS. Casey’s General Stores’s revenue was down .1% on a year-over-year basis. As a group, research analysts expect that Casey’s General Stores, Inc. will post 12.81 earnings per share for the current fiscal year.

Casey’s General Stores Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a $0.43 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.72 annualized dividend and a dividend yield of 0.52%. Casey’s General Stores’s dividend payout ratio (DPR) is presently 13.67%.

Hedge Funds Weigh In On Casey’s General Stores

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BKM Wealth Management LLC acquired a new stake in shares of Casey’s General Stores in the fourth quarter worth $29,000. Rise Advisors LLC acquired a new stake in Casey’s General Stores during the 1st quarter worth about $30,000. V Square Quantitative Management LLC purchased a new position in Casey’s General Stores during the 4th quarter valued at about $35,000. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Casey’s General Stores in the 4th quarter valued at about $36,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Casey’s General Stores in the third quarter worth approximately $38,000. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

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.