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

Casey’s General Stores, Inc. (NASDAQ:CASY) saw a significant drop in short interest in the month of August. As of August 14th, there was short interest totaling 1,143,057 shares, a drop of 32.3% from the July 30th total of 1,688,551 shares. Approximately 3.1% of the shares of the company are short sold. Based on an average daily trading volume, of 285,907 shares, the days-to-cover ratio is currently 4.0 days.

Wall Street Analysts Forecast Growth

CASY has been the subject of several recent analyst reports. UBS Group cut their price objective on shares of Casey’s General Stores from $945.00 to $925.00 and set a “neutral” rating for the company in a research report on Thursday, August 27th. Capital One Financial started coverage on shares of Casey’s General Stores in a report on Monday, June 22nd. They issued an “equal weight” rating and a $896.00 target price on the stock. Northcoast Research raised shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $950.00 price target for the company in a research note on Monday, July 13th. Stephens set a $975.00 price target on shares of Casey’s General Stores and gave the stock an “overweight” rating in a report on Friday, June 12th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $913.00 price target on shares of Casey’s General Stores in a research report on Wednesday, July 29th. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Casey’s General Stores presently has a consensus rating of “Moderate Buy” and an average price target of $942.87.

Insider Buying and Selling

In related news, CEO Darren M. Rebelez sold 19,000 shares of the company’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $801.46, for a total value of $15,227,740.00. Following the completion of the transaction, the chief executive officer owned 89,174 shares of the company’s stock, valued at approximately $71,469,394.04. This represents a 17.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the company’s 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 transaction, the chief financial officer directly owned 29,677 shares of the company’s stock, valued at approximately $24,874,074.32. The trade was a 16.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 30,243 shares of company stock valued at $24,421,877 in the last ninety days. Company insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On Casey’s General Stores

Hedge funds have recently modified their holdings of the business. Fiduciary Financial Advisors purchased a new stake in Casey’s General Stores in the 2nd quarter valued at $26,000. Whipplewood Advisors LLC acquired a new position in Casey’s General Stores in the first quarter valued at $33,000. Bell Investment Advisors Inc acquired a new position in Casey’s General Stores in the second quarter valued at $33,000. Caitlin John LLC purchased a new stake in shares of Casey’s General Stores in the second quarter valued at about $35,000. Finally, Larson Financial Group LLC boosted its stake in shares of Casey’s General Stores by 252.4% during the fourth quarter. Larson Financial Group LLC now owns 74 shares of the company’s stock worth $41,000 after buying an additional 53 shares during the period. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Casey’s General Stores Stock Performance

Shares of CASY stock opened at $753.59 on Thursday. Casey’s General Stores has a 52 week low of $493.70 and a 52 week high of $927.85. The firm has a 50 day moving average of $828.07 and a two-hundred day moving average of $784.33. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $27.89 billion, a PE ratio of 39.33, a P/E/G ratio of 2.62 and a beta of 0.59.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results 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. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The company had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.33 billion. During the same period last year, the firm earned $2.63 earnings per share. Casey’s General Stores’s quarterly revenue was up 14.5% on a year-over-year basis. On average, research analysts predict that Casey’s General Stores will post 21.11 EPS for the current fiscal year.

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.