Casey’s General Stores (NASDAQ:CASY) Posts Quarterly Earnings Results, Beats Estimates By $0.59 EPS

Casey’s General Stores (NASDAQ:CASY) issued its quarterly earnings data on Tuesday. The company reported $7.37 earnings per share for the quarter, topping analysts’ consensus estimates of $6.78 by $0.59, FiscalAI reports. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The firm had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.56 billion.

Casey’s General Stores Trading Down 3.0%

NASDAQ CASY traded down $22.60 during trading hours on Tuesday, reaching $733.49. The company had a trading volume of 813,643 shares, compared to its average volume of 492,592. The stock has a 50-day moving average of $826.62 and a 200 day moving average of $786.29. Casey’s General Stores has a 1-year low of $497.38 and a 1-year high of $927.85. The company has a current ratio of 1.01, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $27.15 billion, a P/E ratio of 38.28, a price-to-earnings-growth ratio of 2.58 and a beta of 0.59.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CASY shares. Wolfe Research reiterated an “outperform” rating and issued a $1,069.00 target price on shares of Casey’s General Stores in a report on Thursday, June 11th. JPMorgan Chase & Co. dropped their price target on Casey’s General Stores from $975.00 to $833.00 and set a “neutral” rating on the stock in a research note on Thursday, September 3rd. William Blair initiated coverage on shares of Casey’s General Stores in a research note on Wednesday, May 20th. They issued an “outperform” rating on the stock. Deutsche Bank Aktiengesellschaft set a $927.00 price objective on shares of Casey’s General Stores in a research note on Friday. Finally, Stephens set a $975.00 price target on Casey’s General Stores and gave the company an “overweight” rating in a research note on Friday, June 12th. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Casey’s General Stores presently has a consensus rating of “Moderate Buy” and an average target price of $928.53.

Insider Activity

In related news, CFO P Jr sold 5,700 shares of Casey’s General Stores stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $838.16, for a total value of $4,777,512.00. Following the completion of the sale, the chief financial officer owned 29,677 shares in the company, valued at approximately $24,874,074.32. This trade represents a 16.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Allison Wing sold 530 shares of the business’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $837.58, for a total value of $443,917.40. Following the completion of the sale, the director directly owned 3,042 shares in the company, valued at approximately $2,547,918.36. The trade was a 14.84% decrease in their position. 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 in the last three months. 0.67% of the stock is currently owned by corporate insiders.

Institutional Trading of Casey’s General Stores

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Menard Financial Group LLC lifted its position in shares of Casey’s General Stores by 1.2% during the fourth quarter. Menard Financial Group LLC now owns 1,267 shares of the company’s stock worth $700,000 after purchasing an additional 15 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of Casey’s General Stores by 4.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 444 shares of the company’s stock valued at $245,000 after purchasing an additional 18 shares during the period. Regal Investment Advisors LLC grew its holdings in shares of Casey’s General Stores by 1.1% in the fourth quarter. Regal Investment Advisors LLC now owns 1,594 shares of the company’s stock valued at $881,000 after purchasing an additional 18 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Casey’s General Stores by 9.1% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 227 shares of the company’s stock worth $128,000 after buying an additional 19 shares during the period. Finally, Scotia Capital Inc. increased its stake in Casey’s General Stores by 2.9% during the 3rd quarter. Scotia Capital Inc. now owns 720 shares of the company’s stock worth $407,000 after buying an additional 20 shares during the period. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

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.