Casey's General Stores: A Hidden Gem For Long-Term Investors

Summary

• Casey's was founded in 1959 by Donald Lamberti in Iowa, specializing in growing organically by establishing locations in rural towns with small populations.
• Despite acquisition offers from Alimentation Couche-Tard and 7-Eleven, Casey's has maintained its independence and growth strategy.
• Casey's growth strategy includes industry consolidation through mergers and acquisitions, expanding its geographical footprint in the process.
• The inherent stability and predictability of convenience store cash flows, as well as abundant opportunities for industry consolidation, give Casey's plenty of growth opportunities.
• The stock is currently trading at a relatively high valuation as measured by price to earnings or operating cash flow metrics.

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Business Overview & History

Casey's General Stores, Inc. (NASDAQ:CASY) was founded in 1959 as a service station in Des Moines, Iowa by Donald Lamberti. He then remodeled and operated it as a convenience store and operated it for 9 years, before

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