Casey’s General Stores (NASDAQ:CASY) Given New $833.00 Price Target at JPMorgan Chase & Co.

Casey’s General Stores (NASDAQ:CASY) had its price target dropped by analysts at JPMorgan Chase & Co. from $975.00 to $833.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 9.83% from the company’s previous close.

CASY has been the subject of a number of other reports. Wells Fargo & Company lifted their target price on Casey’s General Stores from $910.00 to $960.00 and gave the company an “overweight” rating in a research note on Thursday, June 11th. BMO Capital Markets upgraded Casey’s General Stores from a “market perform” rating to an “outperform” rating and set a $950.00 price target on the stock in a research report on Monday, June 29th. Capital One Financial started coverage on Casey’s General Stores in a report on Monday, June 22nd. They issued an “equal weight” rating and a $896.00 price target on the stock. Zacks Research lowered Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $913.00 price objective on shares of Casey’s General Stores in a research note on Wednesday, July 29th. Fourteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $933.40.

Casey’s General Stores Stock Performance

Shares of Casey’s General Stores stock traded up $4.83 during trading hours on Thursday, reaching $758.42. The company’s stock had a trading volume of 374,159 shares, compared to its average volume of 492,244. Casey’s General Stores has a one year low of $494.64 and a one year high of $927.85. The company’s 50 day simple moving average is $828.07 and its 200 day simple moving average is $784.33. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 1.01. The stock has a market cap of $28.07 billion, a P/E ratio of 39.58, a price-to-earnings-growth ratio of 2.62 and a beta of 0.59.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $1.06. The business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.33 billion. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.63 EPS. As a group, analysts expect that Casey’s General Stores will post 21.11 EPS for the current fiscal year.

Insider Buying and Selling at Casey’s General Stores

In related news, CFO P Jr sold 5,700 shares of the stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $838.16, for a total value of $4,777,512.00. Following the completion of the transaction, the chief financial officer directly owned 29,677 shares of the company’s stock, valued at $24,874,074.32. This represents a 16.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Chad Frazell sold 3,013 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $787.49, for a total value of $2,372,707.37. Following the completion of the sale, the insider owned 9,823 shares in the company, valued at approximately $7,735,514.27. This represents a 23.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 30,243 shares of company stock valued at $24,421,877. 0.67% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Casey’s General Stores

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its stake in shares of Casey’s General Stores by 7.4% in the 4th quarter. Geode Capital Management LLC now owns 760,438 shares of the company’s stock worth $420,416,000 after acquiring an additional 52,250 shares during the period. Daiichi Life Insurance Co. Ltd. acquired a new stake in Casey’s General Stores in the second quarter worth approximately $1,222,000. Burns J W & Co. Inc. NY lifted its position in Casey’s General Stores by 103.5% in the first quarter. Burns J W & Co. Inc. NY now owns 2,448 shares of the company’s stock worth $1,782,000 after purchasing an additional 1,245 shares during the period. North Dakota State Investment Board bought a new position in Casey’s General Stores during the 4th quarter valued at $720,000. Finally, Jackson Creek Investment Advisors LLC acquired a new position in shares of Casey’s General Stores during the 4th quarter valued at $1,338,000. Institutional investors own 85.63% of the company’s stock.

About Casey’s General Stores

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.