Casey’s General Stores (NASDAQ:CASY) Share Price Crosses Below 50 Day Moving Average – Time to Sell?

Casey’s General Stores, Inc. (NASDAQ:CASY)’s share price passed below its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $678.78 and traded as low as $661.45. Casey’s General Stores shares last traded at $670.02, with a volume of 688,803 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CASY shares. Stephens set a $750.00 price objective on shares of Casey’s General Stores in a research report on Thursday, September 10th. Northcoast Research raised shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $950.00 target price on the stock in a report on Monday, July 13th. Royal Bank Of Canada raised shares of Casey’s General Stores from a “sector perform” rating to an “outperform” rating and decreased their target price for the stock from $910.00 to $825.00 in a report on Thursday, October 15th. BMO Capital Markets set a $810.00 target price on shares of Casey’s General Stores in a research note on Thursday, September 10th. Finally, Raymond James Financial upgraded shares of Casey’s General Stores from a “market perform” rating to an “outperform” rating and set a $750.00 target price on the stock in a research note on Thursday, September 10th. Sixteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Casey’s General Stores presently has a consensus rating of “Moderate Buy” and an average target price of $835.38.

Casey’s General Stores Stock Down 3.9%

The company has a 50 day moving average of $678.78 and a 200-day moving average of $738.93. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.61. The company has a market cap of $24.76 billion, a P/E ratio of 32.27, a price-to-earnings-growth ratio of 2.26 and a beta of 0.59.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Tuesday, September 8th. The company reported $7.37 earnings per share for the quarter, topping analysts’ consensus estimates of $6.78 by $0.59. The business had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.56 billion. Casey’s General Stores had a return on equity of 19.68% and a net margin of 4.14%. The company’s quarterly revenue was up 24.3% compared to the same quarter last year. During the same period in the prior year, the company earned $5.77 EPS. On average, equities analysts predict that Casey’s General Stores, Inc. will post 21.61 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Sunday, November 1st will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Friday, October 30th. Casey’s General Stores’s dividend payout ratio (DPR) is 12.52%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Modera Wealth Management LLC grew its position in shares of Casey’s General Stores by 15.0% in the 3rd quarter. Modera Wealth Management LLC now owns 390 shares of the company’s stock worth $237,000 after buying an additional 51 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Casey’s General Stores by 3,074.6% during the third quarter. International Assets Investment Management LLC now owns 20,000 shares of the company’s stock valued at $12,169,000 after buying an additional 19,370 shares during the period. BOKF NA increased its stake in shares of Casey’s General Stores by 82.7% during the third quarter. BOKF NA now owns 1,275 shares of the company’s stock valued at $776,000 after buying an additional 577 shares during the period. Motley Fool Asset Management LLC increased its stake in shares of Casey’s General Stores by 6.6% during the third quarter. Motley Fool Asset Management LLC now owns 1,119 shares of the company’s stock valued at $681,000 after buying an additional 69 shares during the period. Finally, North Dakota State Investment Board raised its holdings in shares of Casey’s General Stores by 2.6% during the third quarter. North Dakota State Investment Board now owns 1,129 shares of the company’s stock valued at $687,000 after acquiring an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

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.