Casey’s General Stores (NASDAQ:CASY) Shares Gap Up – Still a Buy?

Casey’s General Stores, Inc. (NASDAQ:CASY) gapped up before the market opened on Tuesday . The stock had previously closed at $558.49, but opened at $573.48. Casey’s General Stores shares last traded at $570.6030, with a volume of 2,421 shares.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Zacks Research downgraded shares of Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 21st. The Goldman Sachs Group reissued a “neutral” rating and set a $530.00 target price on shares of Casey’s General Stores in a research note on Wednesday, December 10th. Wells Fargo & Company raised their target price on Casey’s General Stores from $610.00 to $625.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. Jefferies Financial Group lifted their price target on Casey’s General Stores from $575.00 to $600.00 and gave the company a “buy” rating in a report on Tuesday, September 9th. Finally, KeyCorp reissued an “overweight” rating on shares of Casey’s General Stores in a research note on Thursday, December 11th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Casey’s General Stores presently has a consensus rating of “Moderate Buy” and a consensus target price of $585.67.

Casey’s General Stores Stock Performance

The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.65 and a current ratio of 1.05. The stock’s 50-day simple moving average is $547.57 and its two-hundred day simple moving average is $530.71. The stock has a market cap of $21.10 billion, a price-to-earnings ratio of 34.97 and a beta of 0.65.

Casey’s General Stores (NASDAQ:CASY) last issued its earnings results on Tuesday, December 9th. The company reported $5.53 EPS for the quarter, beating analysts’ consensus estimates of $4.92 by $0.61. The business had revenue of $4.51 billion during the quarter, compared to analyst estimates of $4.51 billion. Casey’s General Stores had a return on equity of 16.89% and a net margin of 3.58%.Casey’s General Stores’s revenue was up 14.2% on a year-over-year basis. During the same period in the prior year, the company posted $4.85 earnings per share. Analysts forecast that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Sunday, February 1st will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Friday, January 30th. Casey’s General Stores’s dividend payout ratio is presently 14.02%.

Insider Activity at Casey’s General Stores

In other Casey’s General Stores news, insider Chad Michael Frazell sold 3,487 shares of the business’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $555.40, for a total transaction of $1,936,679.80. Following the completion of the sale, the insider directly owned 7,993 shares of the company’s stock, valued at approximately $4,439,312.20. The trade was a 30.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.54% of the company’s stock.

Institutional Trading of Casey’s General Stores

Hedge funds have recently modified their holdings of the company. Foster Dykema Cabot & Partners LLC bought a new position in Casey’s General Stores during the third quarter worth about $25,000. Westside Investment Management Inc. grew its position in shares of Casey’s General Stores by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 46 shares of the company’s stock valued at $26,000 after purchasing an additional 23 shares during the period. Nvwm LLC bought a new stake in Casey’s General Stores during the 2nd quarter worth approximately $32,000. Atlantic Union Bankshares Corp acquired a new stake in Casey’s General Stores during the 3rd quarter worth approximately $33,000. Finally, Cornerstone Planning Group LLC lifted its stake in Casey’s General Stores by 490.9% in the third quarter. Cornerstone Planning Group LLC now owns 65 shares of the company’s stock valued at $34,000 after buying an additional 54 shares in the last quarter. 85.63% of the stock is currently owned by institutional investors and hedge funds.

About Casey’s General Stores

Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.