Yahoo Finance If You Invested $1000 in Casey's General Stores a Decade Ago, This is How Much It'd Be Worth Now
For most investors, how much a stock's price changes over time is important. This factor can impact your investment portfolio as well as help you compare investment results across sectors and industries.
Another thing that can drive investing is the fear of missing out, or FOMO. This particularly applies to tech giants and popular consumer-facing stocks.
What if you'd invested in Casey's General Stores (CASY) ten years ago? It may not have been easy to hold on to CASY for all that time, but if you did, how much would your investment be worth today?
Casey's General Stores' Business In-Depth
With that in mind, let's take a look at Casey's General Stores' main business drivers.
Founded in 1959 and based in Ankeny, IA, Casey's General Stores, Inc. operates convenience stores under the Casey's and Casey's General Store names in 16 states, mainly Iowa, Missouri and Illinois. As of Apr 30, 2023, there were a total of 2,521 stores in operation.
Casey's offers a comprehensive range of products and services to meet the needs of its customers. In addition to fuel, the stores provide a wide variety of merchandise, including groceries, prepared food, snacks, beverages, tobacco products, health and beauty aids, school supplies, housewares, pet supplies and automotive supplies. Casey's is known for its signature made-from-scratch pizza, which has gained a dedicated following among customers. As of Apr 30, 2023, 217 store locations offered car washes. All but seven Casey's Stores offer fuel for sale on a self-service basis.
Casey's has also made significant strides in embracing digital technologies to enhance customer experiences. The company offers a mobile app and online ordering capabilities, allowing customers to easily order food, locate stores, and access exclusive deals and promotions.
The company primarily derives revenues under three categories — Fuel (66.4% of FY23 total revenues), Grocery & General Merchandise (22.8% of FY23 total revenues) and Prepared Food & Dispensed Beverage (8.8% of FY23 total revenues). Other category accounts for 2% of total revenues. Three distribution centers are in operation (in Ankeny, Iowa adjacent to the Store Support Center, in Terre Haute, Indiana, and in Joplin, Missouri) from which grocery and general merchandise items as well as prepared food and dispensed beverage items are supplied to stores. The company has a fleet of 397 tractors used for distribution.
Bottom Line
Anyone can invest, but building a successful investment portfolio takes a combination of a few things: research, patience, and a little bit of risk. So, if you had invested in Casey's General Stores a decade ago, you're probably feeling pretty good about your investment today.
According to our calculations, a $1000 investment made in June 2013 would be worth $3,981.22, or a gain of 298.12%, as of June 30, 2023, and this return excludes dividends but includes price increases.
The S&P 500 rose 173.70% and the price of gold increased 48.68% over the same time frame in comparison.
Going forward, analysts are expecting more upside for CASY.
Casey's business operating model, omnichannel capabilities, enhanced customer reach and private-label offerings reinforce its position in the industry. The company’s price and product optimization strategies, increased penetration of private brands and digital engagements comprising the mobile app and online ordering capabilities are commendable. Stellar performance in non-alcoholic and alcoholic beverages in the grocery and general merchandise category as well as bakery and hot food in the prepared food and dispensed beverage category helped post 8.4% jump in Inside sales and 6.5% growth in Inside same-store sales. Meanwhile, the Inside margin expanded 20 basis points. For fiscal 2024, Casey's estimates Inside same-store sales to increase between 3% and 5% and the Inside margin in the band of 40, signaling growth prospects.
The stock is up 6.37% over the past four weeks, and no earnings estimate has gone lower in the past two months, compared to 5 higher, for fiscal 2023. The consensus estimate has moved up as well.
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Casey's General Stores, Inc. (CASY) : Free Stock Analysis Report
