Casey’s General Stores, Inc. (NASDAQ:CASY) Sees Significant Growth in Short Interest

Casey’s General Stores, Inc. (NASDAQ:CASY) was the recipient of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 1,060,000 shares, an increase of 48.8% from the January 15th total of 712,300 shares. Based on an average trading volume of 246,800 shares, the days-to-cover ratio is currently 4.3 days. Approximately 2.9% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CASY. BMO Capital Markets reiterated a “market perform” rating and issued a $450.00 target price (up from $400.00) on shares of Casey’s General Stores in a report on Wednesday, December 18th. Royal Bank of Canada raised their price objective on shares of Casey’s General Stores from $403.00 to $428.00 and gave the stock a “sector perform” rating in a research report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Casey’s General Stores from $451.00 to $454.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Evercore ISI raised their price objective on shares of Casey’s General Stores from $460.00 to $470.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Gordon Haskett raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $424.00.

Casey’s General Stores Stock Up 1.4 %

Shares of CASY traded up $6.09 during trading hours on Thursday, reaching $441.44. The stock had a trading volume of 168,368 shares, compared to its average volume of 258,110. Casey’s General Stores has a 12 month low of $280.05 and a 12 month high of $442.48. The firm has a 50-day simple moving average of $409.54 and a 200 day simple moving average of $394.60. The company has a current ratio of 0.88, a quick ratio of 0.49 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $16.39 billion, a price-to-earnings ratio of 30.76, a P/E/G ratio of 2.48 and a beta of 0.83.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Monday, December 9th. The company reported $4.85 earnings per share for the quarter, beating the consensus estimate of $4.29 by $0.56. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The business had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $4.03 billion. During the same period last year, the business earned $4.24 EPS. The business’s revenue was down 2.9% on a year-over-year basis. Equities research analysts predict that Casey’s General Stores will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 17th. Investors of record on Monday, February 3rd will be issued a $0.50 dividend. The ex-dividend date is Monday, February 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.45%. Casey’s General Stores’s dividend payout ratio (DPR) is presently 13.94%.

Insider Buying and Selling at Casey’s General Stores

In other news, insider Katrina S. Lindsey sold 450 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $427.13, for a total transaction of $192,208.50. Following the completion of the transaction, the insider now directly owns 2,247 shares in the company, valued at approximately $959,761.11. This represents a 16.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mike Spanos bought 500 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was purchased at an average price of $396.76 per share, with a total value of $198,380.00. Following the completion of the transaction, the director now directly owns 3,097 shares of the company’s stock, valued at approximately $1,228,765.72. The trade was a 19.25 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.56% of the company’s stock.

Hedge Funds Weigh In On Casey’s General Stores

Several institutional investors and hedge funds have recently bought and sold shares of the company. Soros Capital Management LLC boosted its position in Casey’s General Stores by 1,825.6% during the third quarter. Soros Capital Management LLC now owns 27,632 shares of the company’s stock worth $10,382,000 after purchasing an additional 26,197 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Casey’s General Stores by 9.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 14,725 shares of the company’s stock worth $5,532,000 after buying an additional 1,332 shares during the period. U.S. Capital Wealth Advisors LLC purchased a new position in Casey’s General Stores in the 4th quarter valued at approximately $369,000. Lord Abbett & CO. LLC bought a new stake in Casey’s General Stores during the 3rd quarter valued at $23,294,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Casey’s General Stores by 18.7% during the third quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company’s stock worth $285,090,000 after acquiring an additional 119,350 shares in the last quarter. 85.63% of the stock is owned by institutional investors.

Casey’s General Stores Company Profile

Casey’s General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.