Casey’s General Stores, Inc. (NASDAQ:CASY) Short Interest Update

Casey’s General Stores, Inc. (NASDAQ:CASY) was the recipient of a large increase in short interest in the month of March. As of March 13th, there was short interest totaling 945,663 shares, an increase of 37.3% from the February 26th total of 688,930 shares. Based on an average daily volume of 545,084 shares, the days-to-cover ratio is presently 1.7 days. Currently, 2.6% of the shares of the company are sold short.

Casey’s General Stores Stock Performance

Casey’s General Stores stock opened at $714.24 on Monday. The firm has a market capitalization of $26.40 billion, a P/E ratio of 41.00, a P/E/G ratio of 2.33 and a beta of 0.65. The stock has a fifty day moving average price of $661.41 and a two-hundred day moving average price of $593.36. Casey’s General Stores has a 52-week low of $397.80 and a 52-week high of $721.50. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.04 and a quick ratio of 0.64.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Monday, March 9th. The company reported $3.49 earnings per share for the quarter, topping the consensus estimate of $2.94 by $0.55. Casey’s General Stores had a net margin of 3.83% and a return on equity of 17.56%. The business had revenue of $3.92 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the prior year, the firm earned $2.33 EPS. The firm’s quarterly revenue was up .3% compared to the same quarter last year. As a group, analysts anticipate that Casey’s General Stores will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 1st will be paid a $0.57 dividend. The ex-dividend date is Friday, May 1st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.3%. Casey’s General Stores’s payout ratio is 13.09%.

Analyst Upgrades and Downgrades

CASY has been the subject of several recent research reports. Stephens reaffirmed an “overweight” rating and issued a $680.00 price target on shares of Casey’s General Stores in a report on Tuesday, March 10th. UBS Group upped their target price on Casey’s General Stores from $600.00 to $706.00 and gave the company a “neutral” rating in a research note on Wednesday, March 11th. Northcoast Research cut Casey’s General Stores from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Casey’s General Stores in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft set a $688.00 price objective on shares of Casey’s General Stores in a research note on Thursday, January 8th. Eight investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $700.09.

Insider Buying and Selling at Casey’s General Stores

In other Casey’s General Stores news, Director Moats Maria Castanon purchased 300 shares of the company’s stock in a transaction on Monday, January 5th. The shares were bought at an average cost of $554.66 per share, with a total value of $166,398.00. Following the transaction, the director directly owned 803 shares in the company, valued at approximately $445,391.98. This represents a 59.64% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Katrina S. Lindsey sold 200 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $683.04, for a total value of $136,608.00. Following the completion of the sale, the insider directly owned 4,039 shares of the company’s stock, valued at $2,758,798.56. This represents a 4.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Casey’s General Stores

A number of hedge funds and other institutional investors have recently bought and sold shares of CASY. Cannon Global Investment Management LLC bought a new position in shares of Casey’s General Stores in the third quarter worth about $1,018,000. Advisors Capital Management LLC raised its position in Casey’s General Stores by 4.4% in the 3rd quarter. Advisors Capital Management LLC now owns 48,355 shares of the company’s stock worth $27,336,000 after purchasing an additional 2,026 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Casey’s General Stores by 1.0% during the third quarter. Thrivent Financial for Lutherans now owns 191,156 shares of the company’s stock valued at $108,065,000 after acquiring an additional 1,950 shares during the period. AE Wealth Management LLC boosted its stake in shares of Casey’s General Stores by 82.3% in the 3rd quarter. AE Wealth Management LLC now owns 2,574 shares of the company’s stock valued at $1,456,000 after purchasing an additional 1,162 shares during the last quarter. Finally, Dillon & Associates Inc. boosted its stake in Casey’s General Stores by 25.1% in the third quarter. Dillon & Associates Inc. now owns 25,737 shares of the company’s stock valued at $14,541,000 after acquiring an additional 5,161 shares during the last quarter. 85.63% of the stock is owned by institutional investors and hedge funds.

Casey’s General Stores Company Profile

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.