4. Casey’s General Stores, Inc. (NASDAQ:CASY)
Casey’s General Stores, Inc. (NASDAQ:CASY) was among the stocks on which Jim Cramer commented, as he emphasized that SpaceX investors are betting on Elon Musk rather than the company’s earnings. Answering a caller’s query during the episode, Cramer said:
Yeah, you know, we really, really like Casey’s, and sometimes, I see stocks like this and that dip was made to be bought… Let’s do this. I think you buy 25 shares. Let’s say you want to have 50 shares, maybe you buy 10 here and then let it come down because it is an $865 stock. And remember, when you have a stock at $865, divide it by 10. Think of it as an $86 stock and try to get some more when it hits $80.
Casey’s General Stores, Inc. (NASDAQ:CASY) operates a chain of convenience stores that offer freshly prepared foods such as pizza, donuts, and sandwiches, along with motor fuel, tobacco products, beverages, and other household and automotive essentials. Cramer mentioned the stock during the April 7 episode and said:
I love Casey’s not just because it’s made our viewers big money, although that certainly helps; this is a terrific company that tends to fly under the radar because it operates in places where few from Wall Street would ever go… Since I recommended this stock in late 2023, the stock’s up nearly 166%, trouncing the S&P 500, which is up 53% over the same period. Since then, I just keep pounding the table on Casey’s, and it’s steadily cruised higher. It’s up a quick 37% since I last pushed it. That was seven months ago…
I think there’s still plenty of room to grow. The concept works in just about any rural area. When I last spoke to CEO Darren Rebelez last June, he told us that there was a potential for thousands of Casey’s locations across the country. I have no reason to doubt this man. The company’s got a great strategy of targeting small to mid-sized towns, with two-thirds of the locations in towns of 20,000 people or fewer. And there are a lot of those towns to target in the 31 states that Casey’s hasn’t even entered yet.
Believe me when I say this, I wish that Starbucks would not have so many stores in big cities in the east and west and would put stores in these kinds of places because that’s where the money is. Here’s the bottom line: I’m proud to see Casey’s General Stores get the call up to the S&P 500, and I’m happy that we’ll be able to track the company’s progress more closely now that it’s in the big benchmark index. Congratulations to Casey’s on the honor. And even though higher gas prices and a higher price-to-earnings multiple make the stock harder to recommend up here, I’m confident that it can keep chugging its way higher long-term.
