Casey’s General Stores (NASDAQ:CASY) Shares Gap Down After Analyst Downgrade

Casey’s General Stores, Inc. (NASDAQ:CASY) shares gapped down before the market opened on Wednesday after UBS Group lowered their price target on the stock from $925.00 to $720.00. The stock had previously closed at $733.49, but opened at $627.47. UBS Group currently has a neutral rating on the stock. Casey’s General Stores shares last traded at $613.5210, with a volume of 546,055 shares changing hands.

CASY has been the subject of several other reports. Northcoast Research raised Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $950.00 target price for the company in a research report on Monday, July 13th. The Goldman Sachs Group set a $750.00 price target on shares of Casey’s General Stores in a research report on Wednesday. Deutsche Bank Aktiengesellschaft set a $927.00 price objective on shares of Casey’s General Stores in a report on Friday, September 4th. Royal Bank Of Canada lowered their price objective on shares of Casey’s General Stores from $913.00 to $910.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Finally, Evercore reiterated an “outperform” rating and issued a $990.00 target price on shares of Casey’s General Stores in a research note on Friday, June 12th. Fifteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $854.12.

Insider Buying and Selling

In related news, CEO Darren Rebelez sold 19,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $801.46, for a total transaction of $15,227,740.00. Following the sale, the chief executive officer directly owned 89,174 shares in the company, valued at approximately $71,469,394.04. This represents a 17.56% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO P Jr sold 5,700 shares of the firm’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 transaction of $4,777,512.00. Following the completion of the transaction, the chief financial officer directly owned 29,677 shares of the company’s stock, valued at approximately $24,874,074.32. This trade represents a 16.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 30,243 shares of company stock valued at $24,421,877. Corporate insiders own 0.67% of the company’s stock.

Casey’s General Stores News Summary

Here are the key news stories impacting Casey’s General Stores this week:

• Positive Sentiment: Casey’s reported fiscal Q1 2027 earnings of $7.37 per share and revenue of $5.68 billion, exceeding analyst estimates of $6.78 per share and approximately $5.57 billion in revenue. Inside gross profit and fuel margins helped offset higher costs. CASY Q1 Earnings Beat Estimates on Inside and Fuel Gains
• Positive Sentiment: Management maintained its fiscal 2027 outlook. Prepared-food traffic, fuel margins and planned CEFCO store remodels continue to support the company’s growth strategy. CASY Q1 Earnings Call Keeps Outlook Intact
• Positive Sentiment: Several analysts remain constructive despite the post-earnings selloff. Stephens reaffirmed an overweight rating with a $975 price target, while Wells Fargo retained an overweight rating with a reduced $750 target. Casey’s Beats on Both Lines in Q1
• Neutral Sentiment: Casey’s declared a quarterly dividend of $0.65 per share, payable November 13 to shareholders of record November 1. The dividend provides modest income support, with an annualized yield of about 0.4%.
• Neutral Sentiment: Reported short interest was zero shares as of September 10, unchanged from the prior reported period; the accompanying percentage change was not meaningful. This suggests short covering is not a factor in the recent move.
• Negative Sentiment: Inside same-store sales increased 3.2%, below investor expectations. The weaker key sales metric overshadowed the earnings and revenue beats and raised concerns about slowing customer demand. Casey’s shares slide despite earnings beat
• Negative Sentiment: Analysts cut price targets following the results, including UBS, which lowered its target from $925 to $720 and adopted a neutral rating. The reductions indicate that valuation and growth expectations remain significant concerns despite the company’s solid execution. Analysts Cut Their Forecasts on Casey’s

Hedge Funds Weigh In On Casey’s General Stores

Hedge funds have recently made changes to their positions in the stock. Fiduciary Financial Advisors bought a new stake in shares of Casey’s General Stores during the second quarter valued at about $26,000. Whipplewood Advisors LLC bought a new position in shares of Casey’s General Stores in the first quarter valued at approximately $33,000. Bell Investment Advisors Inc purchased a new position in Casey’s General Stores during the second quarter valued at approximately $33,000. Caitlin John LLC purchased a new position in Casey’s General Stores during the second quarter valued at approximately $35,000. Finally, Larson Financial Group LLC increased 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 acquiring 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 Down 0.2%

The company has a current ratio of 1.02, a quick ratio of 0.60 and a debt-to-equity ratio of 0.57. The firm has a market cap of $23.20 billion, a P/E ratio of 30.23, a price-to-earnings-growth ratio of 2.13 and a beta of 0.59. The stock’s fifty day moving average is $818.89 and its two-hundred day moving average is $786.30.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Tuesday, September 8th. The company reported $7.37 EPS for the quarter, beating the consensus estimate of $6.78 by $0.59. The firm had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.56 billion. Casey’s General Stores had a net margin of 4.14% and a return on equity of 19.68%. The business’s quarterly revenue was up 24.3% compared to the same quarter last year. During the same period last year, the firm earned $5.77 EPS. As a group, research analysts anticipate that Casey’s General Stores, Inc. will post 21.26 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Sunday, November 1st will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Friday, October 30th. Casey’s General Stores’s dividend payout ratio (DPR) is 13.57%.

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.