Investors Buy High Volume of Casey’s General Stores Put Options (NASDAQ:CASY)

Casey’s General Stores Inc (NASDAQ:CASY) was the recipient of unusually large options trading on Monday. Investors bought 1,205 put options on the company. This represents an increase of approximately 1,445% compared to the typical volume of 78 put options.

NASDAQ CASY opened at $175.32 on Tuesday. The stock has a market cap of $6.46 billion, a PE ratio of 31.82, a PEG ratio of 3.06 and a beta of 0.52. Casey’s General Stores has a 12 month low of $116.23 and a 12 month high of $179.21. The company’s 50-day moving average price is $170.70 and its 200-day moving average price is $161.64. The company has a current ratio of 0.76, a quick ratio of 0.29 and a debt-to-equity ratio of 0.88.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Monday, December 9th. The company reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.06. The company had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.53 billion. Casey’s General Stores had a net margin of 2.34% and a return on equity of 15.55%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the business posted $1.80 EPS. As a group, sell-side analysts forecast that Casey’s General Stores will post 6.3 earnings per share for the current year.

In other news, Director Allison M. Wing sold 554 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $165.91, for a total transaction of $91,914.14. Following the transaction, the director now owns 998 shares of the company’s stock, valued at approximately $165,578.18. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.41% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the company. Metropolitan Life Insurance Co NY raised its position in Casey’s General Stores by 2.4% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 10,713 shares of the company’s stock valued at $1,727,000 after purchasing an additional 247 shares in the last quarter. Squarepoint Ops LLC purchased a new position in Casey’s General Stores during the third quarter valued at approximately $22,307,000. Barclays PLC increased its holdings in Casey’s General Stores by 113.9% during the third quarter. Barclays PLC now owns 41,376 shares of the company’s stock valued at $6,668,000 after buying an additional 22,029 shares during the period. Public Employees Retirement System of Ohio raised its stake in Casey’s General Stores by 1.4% in the third quarter. Public Employees Retirement System of Ohio now owns 47,723 shares of the company’s stock worth $7,691,000 after buying an additional 652 shares in the last quarter. Finally, WealthPLAN Partners LLC raised its stake in Casey’s General Stores by 6.9% in the third quarter. WealthPLAN Partners LLC now owns 29,594 shares of the company’s stock worth $5,032,000 after buying an additional 1,923 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms recently weighed in on CASY. JPMorgan Chase & Co. increased their price objective on shares of Casey’s General Stores from $152.00 to $169.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Deutsche Bank boosted their target price on Casey’s General Stores from $166.00 to $185.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Barclays boosted their target price on Casey’s General Stores from $140.00 to $170.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 11th. Royal Bank of Canada cut Casey’s General Stores from a “sector perform” rating to an “underperform” rating and upped their target price for the company from $144.00 to $158.00 in a research note on Thursday, August 29th. Finally, BMO Capital Markets increased their price target on Casey’s General Stores to $170.00 and gave the stock a “market perform” rating in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. Casey’s General Stores has a consensus rating of “Hold” and a consensus price target of $172.80.

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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