Casey’s General Stores (NASDAQ:CASY) Announces Earnings Results

Casey’s General Stores (NASDAQ:CASY) posted its quarterly earnings results on Tuesday. The company reported $5.53 EPS for the quarter, topping the consensus estimate of $4.92 by $0.61, FiscalAI reports. Casey’s General Stores had a net margin of 3.54% and a return on equity of 16.73%. The firm had revenue of $4.51 billion for the quarter, compared to the consensus estimate of $4.51 billion.

Casey’s General Stores Trading Down 0.6%

Shares of CASY traded down $3.28 during mid-day trading on Tuesday, hitting $563.24. 494,316 shares of the company’s stock traded hands, compared to its average volume of 342,478. The company has a quick ratio of 0.61, a current ratio of 1.03 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $20.94 billion, a P/E ratio of 36.15 and a beta of 0.65. The business’s 50-day moving average price is $549.21 and its 200-day moving average price is $523.16. Casey’s General Stores has a 1 year low of $372.08 and a 1 year high of $573.76.

Insider Buying and Selling

In related news, insider Chad Michael Frazell sold 3,487 shares of Casey’s General Stores stock in a transaction on Monday, September 29th. The shares were sold at an average price of $555.40, for a total value of $1,936,679.80. Following the sale, the insider owned 7,993 shares in the company, valued at $4,439,312.20. The trade was a 30.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.54% of the stock is owned by insiders.

Hedge Funds Weigh In On Casey’s General Stores

Hedge funds and other institutional investors have recently modified their holdings of the stock. Squarepoint Ops LLC lifted its holdings in Casey’s General Stores by 146.4% in the third quarter. Squarepoint Ops LLC now owns 157,119 shares of the company’s stock worth $88,823,000 after buying an additional 93,366 shares during the period. Holocene Advisors LP raised its position in shares of Casey’s General Stores by 98.2% in the 2nd quarter. Holocene Advisors LP now owns 150,075 shares of the company’s stock worth $76,579,000 after acquiring an additional 74,371 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Casey’s General Stores in the 3rd quarter valued at approximately $38,599,000. Qube Research & Technologies Ltd bought a new stake in shares of Casey’s General Stores during the second quarter valued at approximately $24,482,000. Finally, Man Group plc grew its stake in Casey’s General Stores by 282.5% in the third quarter. Man Group plc now owns 57,794 shares of the company’s stock worth $32,672,000 after purchasing an additional 42,683 shares during the period. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Analyst Upgrades and Downgrades

CASY has been the topic of several recent research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Casey’s General Stores in a report on Monday. Wells Fargo & Company raised their price objective on Casey’s General Stores from $610.00 to $625.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. Stephens lifted their price objective on Casey’s General Stores from $570.00 to $600.00 and gave the stock an “overweight” rating in a report on Wednesday, December 3rd. Zacks Research cut Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a report on Friday, November 21st. Finally, Jefferies Financial Group raised their price target on Casey’s General Stores from $575.00 to $600.00 and gave the stock a “buy” rating in a research report on Tuesday, September 9th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $575.78.

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.