Short Interest in Casey’s General Stores, Inc. (NASDAQ:CASY) Drops By 13.9%

Casey’s General Stores, Inc. (NASDAQ:CASY) saw a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 1,240,000 shares, a drop of 13.9% from the February 28th total of 1,440,000 shares. Based on an average daily volume of 297,800 shares, the days-to-cover ratio is presently 4.2 days. Currently, 3.4% of the shares of the company are sold short.

Casey’s General Stores Stock Up 0.7 %

Shares of CASY opened at $443.88 on Thursday. Casey’s General Stores has a 12 month low of $306.45 and a 12 month high of $446.60. The stock has a market cap of $16.48 billion, a price-to-earnings ratio of 30.93, a P/E/G ratio of 2.40 and a beta of 0.87. The company has a 50-day moving average price of $415.81 and a two-hundred day moving average price of $404.26. The company has a quick ratio of 0.49, a current ratio of 0.88 and a debt-to-equity ratio of 0.74.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Tuesday, March 11th. The company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.76 by $0.57. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The business had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.74 billion. During the same quarter last year, the company earned $2.33 EPS. Casey’s General Stores’s revenue was up 17.2% on a year-over-year basis. Equities analysts predict that Casey’s General Stores will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be paid a $0.50 dividend. The ex-dividend date is Thursday, May 1st. This represents a $2.00 annualized dividend and a dividend yield of 0.45%. Casey’s General Stores’s dividend payout ratio is presently 13.94%.

Analyst Ratings Changes

Several research firms have recently weighed in on CASY. Royal Bank of Canada set a $438.00 price objective on Casey’s General Stores and gave the company a “sector perform” rating in a research report on Wednesday, March 12th. StockNews.com downgraded shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Evercore ISI boosted their price objective on shares of Casey’s General Stores from $450.00 to $460.00 and gave the stock an “outperform” rating in a report on Tuesday. BMO Capital Markets reaffirmed a “market perform” rating and set a $450.00 price objective (up previously from $400.00) on shares of Casey’s General Stores in a research report on Wednesday, December 18th. Finally, Gordon Haskett raised Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $424.00.

Insider Activity

In other Casey’s General Stores news, Director Mike Spanos bought 256 shares of the stock in a transaction on Thursday, March 13th. The shares were purchased at an average price of $390.54 per share, with a total value of $99,978.24. Following the acquisition, the director now directly owns 3,356 shares of the company’s stock, valued at $1,310,652.24. This represents a 8.26 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.56% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Casey’s General Stores

Several large investors have recently made changes to their positions in the company. YANKCOM Partnership acquired a new position in Casey’s General Stores in the fourth quarter valued at about $34,000. Endeavor Private Wealth Inc. acquired a new position in shares of Casey’s General Stores in the 4th quarter worth approximately $36,000. MassMutual Private Wealth & Trust FSB grew its position in Casey’s General Stores by 24.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 149 shares of the company’s stock worth $59,000 after acquiring an additional 29 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in Casey’s General Stores during the 4th quarter valued at $79,000. Finally, V Square Quantitative Management LLC increased its holdings in Casey’s General Stores by 32.9% during the 4th quarter. V Square Quantitative Management LLC now owns 210 shares of the company’s stock valued at $83,000 after purchasing an additional 52 shares in the last quarter. Institutional investors own 85.63% of the company’s stock.

About Casey’s General Stores

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.