Casey’s General Stores (NASDAQ:CASY) Trading Down 5.1% – What’s Next?

Casey’s General Stores, Inc. (NASDAQ:CASY) traded down 5.1% on Thursday . The company traded as low as $769.43 and last traded at $765.8320. 245,268 shares changed hands during trading, a decline of 50% from the average session volume of 493,496 shares. The stock had previously closed at $807.12.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CASY shares. UBS Group decreased 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 report on Thursday. Wells Fargo & Company increased their target price on Casey’s General Stores from $910.00 to $960.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. Wolfe Research reiterated an “outperform” rating and issued a $1,069.00 target price on shares of Casey’s General Stores in a research report on Thursday, June 11th. Morgan Stanley upgraded Casey’s General Stores to a “buy” rating in a report on Wednesday, June 10th. Finally, Capital One Financial initiated coverage on Casey’s General Stores in a research note on Monday, June 22nd. They set an “equal weight” rating and a $896.00 price objective on the stock. Fourteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Casey’s General Stores has an average rating of “Moderate Buy” and a consensus target price of $942.87.

Casey’s General Stores Stock Performance

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 company has a 50-day moving average price of $831.92 and a 200-day moving average price of $781.32. The firm has a market capitalization of $27.96 billion, a price-to-earnings ratio of 39.43, a P/E/G ratio of 2.61 and a beta of 0.61.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, beating the consensus estimate 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 firm 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 EPS. The firm’s revenue was up 14.5% compared to the same quarter last year. As a group, equities research analysts forecast that Casey’s General Stores, Inc. will post 21.11 earnings per share for the current year.

Casey’s General Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Saturday, August 1st were issued a $0.65 dividend. The ex-dividend date of this dividend was Friday, July 31st. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.57. This represents a $2.60 annualized dividend and a yield of 0.3%. Casey’s General Stores’s dividend payout ratio is currently 13.57%.

Insider Transactions at Casey’s General Stores

In other Casey’s General Stores news, insider Chad Michael Frazell sold 3,013 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $787.49, for a total transaction of $2,372,707.37. Following the transaction, the insider owned 9,823 shares of the company’s stock, valued at approximately $7,735,514.27. This trade represents a 23.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $838.16, for a total transaction of $4,777,512.00. Following the completion of the transaction, the chief financial officer owned 29,677 shares of the company’s stock, valued at $24,874,074.32. This trade represents a 16.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 30,243 shares of company stock worth $24,421,877 over the last ninety days. Insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CASY. Fiduciary Financial Advisors bought a new stake in shares of Casey’s General Stores during the 2nd quarter worth $26,000. Whipplewood Advisors LLC purchased a new stake in shares of Casey’s General Stores during the first quarter valued at $33,000. Bell Investment Advisors Inc acquired a new position in shares of Casey’s General Stores in the 2nd quarter valued at $33,000. Caitlin John LLC purchased a new position in Casey’s General Stores in the 2nd quarter worth about $35,000. Finally, Larson Financial Group LLC raised its holdings in Casey’s General Stores by 252.4% during the 4th 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. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Company Profile

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.