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

Casey’s General Stores, Inc. (NASDAQ:CASYGet Free Report) was the recipient of a significant decrease in short interest in May. As of May 31st, there was short interest totalling 887,700 shares, a decrease of 16.3% from the May 15th total of 1,060,000 shares. Approximately 2.4% of the company’s stock are short sold. Based on an average trading volume of 298,000 shares, the short-interest ratio is currently 3.0 days.

Casey’s General Stores Stock Performance

Shares of Casey’s General Stores stock traded down $4.56 during trading on Friday, hitting $372.02. 280,810 shares of the stock were exchanged, compared to its average volume of 328,867. The stock’s fifty day moving average is $327.90 and its 200 day moving average is $302.28. The stock has a market cap of $13.77 billion, a PE ratio of 27.70, a P/E/G ratio of 2.73 and a beta of 0.83. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.87. Casey’s General Stores has a 12 month low of $216.95 and a 12 month high of $389.43.

Casey’s General Stores (NASDAQ:CASYGet Free Report) last posted its quarterly earnings data on Tuesday, June 11th. The company reported $2.34 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.64. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.47 billion. Casey’s General Stores had a net margin of 3.38% and a return on equity of 17.25%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.49 earnings per share. As a group, sell-side analysts anticipate that Casey’s General Stores will post 14.13 EPS for the current year.

Casey’s General Stores Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.54%. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, August 1st. Casey’s General Stores’s dividend payout ratio is presently 12.81%.

Analyst Ratings Changes

Several analysts recently issued reports on CASY shares. Royal Bank of Canada upped their price target on shares of Casey’s General Stores from $322.00 to $361.00 and gave the company a “sector perform” rating in a report on Wednesday. Wells Fargo & Company boosted their target price on shares of Casey’s General Stores from $340.00 to $415.00 and gave the company an “overweight” rating in a research note on Thursday. StockNews.com upgraded shares of Casey’s General Stores from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. BMO Capital Markets boosted their target price on shares of Casey’s General Stores from $305.00 to $400.00 and gave the company a “market perform” rating in a research note on Thursday. Finally, Evercore ISI lowered their target price on shares of Casey’s General Stores from $350.00 to $345.00 and set an “outperform” rating for the company in a research note on Tuesday, April 16th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $380.11.

Check Out Our Latest Stock Report on CASY

Institutional Investors Weigh In On Casey’s General Stores

A number of institutional investors and hedge funds have recently bought and sold shares of CASY. Norges Bank acquired a new stake in Casey’s General Stores in the 4th quarter valued at about $115,799,000. Congress Asset Management Co. MA acquired a new stake in Casey’s General Stores in the 1st quarter valued at about $112,081,000. Point72 Asset Management L.P. lifted its stake in Casey’s General Stores by 561.7% during the fourth quarter. Point72 Asset Management L.P. now owns 273,168 shares of the company’s stock valued at $75,050,000 after buying an additional 231,887 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Casey’s General Stores by 113.0% during the first quarter. Principal Financial Group Inc. now owns 291,838 shares of the company’s stock valued at $92,936,000 after buying an additional 154,803 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Casey’s General Stores by 142.8% during the third quarter. Envestnet Asset Management Inc. now owns 242,923 shares of the company’s stock valued at $65,959,000 after buying an additional 142,884 shares in the last quarter. 85.63% of the stock is owned by institutional investors and hedge funds.

About Casey’s General Stores

(Get Free Report)

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.

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