Casey’s General Stores Inc (NASDAQ:CASY) Sees Large Increase in Short Interest

Casey’s General Stores Inc (NASDAQ:CASY) saw a significant growth in short interest in July. As of July 31st, there was short interest totalling 1,467,400 shares, a growth of 31.5% from the June 30th total of 1,116,300 shares. Currently, 4.1% of the shares of the company are short sold. Based on an average trading volume of 320,700 shares, the short-interest ratio is currently 4.6 days.

CASY has been the subject of several recent research reports. Barclays increased their target price on shares of Casey’s General Stores from $123.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 12th. JPMorgan Chase & Co. increased their target price on shares of Casey’s General Stores from $140.00 to $152.00 and gave the stock a “neutral” rating in a research note on Friday, June 14th. Gabelli downgraded shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. BMO Capital Markets increased their target price on shares of Casey’s General Stores to $140.00 and gave the stock a “market perform” rating in a research note on Wednesday, June 12th. Finally, BidaskClub downgraded shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $151.90.

NASDAQ CASY traded down $0.67 during trading hours on Monday, hitting $166.03. 391,400 shares of the stock were exchanged, compared to its average volume of 327,989. The company has a market cap of $6.13 billion, a P/E ratio of 30.13, a price-to-earnings-growth ratio of 3.20 and a beta of 0.58. Casey’s General Stores has a 12-month low of $110.43 and a 12-month high of $167.98. The stock has a 50-day moving average of $160.71. The company has a current ratio of 0.69, a quick ratio of 0.23 and a debt-to-equity ratio of 0.91.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Monday, June 10th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.27. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Casey’s General Stores had a net margin of 2.18% and a return on equity of 14.95%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.51 earnings per share. On average, analysts expect that Casey’s General Stores will post 5.89 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be issued a dividend of $0.32 per share. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Wednesday, July 31st. Casey’s General Stores’s dividend payout ratio is currently 23.23%.

In other Casey’s General Stores news, SVP Julia L. Jackowski sold 20,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $149.49, for a total value of $2,989,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Terry W. Handley sold 8,106 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $149.67, for a total transaction of $1,213,225.02. The disclosure for this sale can be found here. Insiders sold 35,106 shares of company stock valued at $5,292,595 in the last 90 days. 0.41% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of CASY. Geode Capital Management LLC raised its holdings in Casey’s General Stores by 8.5% during the fourth quarter. Geode Capital Management LLC now owns 388,122 shares of the company’s stock worth $49,733,000 after purchasing an additional 30,433 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Casey’s General Stores by 95.4% during the first quarter. State of Alaska Department of Revenue now owns 12,447 shares of the company’s stock worth $1,601,000 after purchasing an additional 6,076 shares in the last quarter. Valeo Financial Advisors LLC raised its holdings in Casey’s General Stores by 2,500.0% during the first quarter. Valeo Financial Advisors LLC now owns 312 shares of the company’s stock worth $40,000 after purchasing an additional 300 shares in the last quarter. Scout Investments Inc. raised its holdings in Casey’s General Stores by 5.5% during the first quarter. Scout Investments Inc. now owns 137,185 shares of the company’s stock worth $17,665,000 after purchasing an additional 7,121 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in Casey’s General Stores by 1.0% during the first quarter. Louisiana State Employees Retirement System now owns 9,800 shares of the company’s stock worth $1,262,000 after purchasing an additional 100 shares in the last quarter. 90.35% of the stock is owned by hedge funds and other institutional investors.

Casey’s General Stores Company Profile

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. The company's stores offer a selection of food, including freshly prepared foods, such as pizza, donuts, and sandwiches; beverage and tobacco products; health and beauty aids; automotive products; school supplies, housewares, and pet supplies; and other nonfood items.

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