Key Points
- Insider sale: Director Katrina Lindsey sold 200 shares on March 11 at an average price of $683.04 for a total of $136,608, trimming her stake to 4,039 shares (a 4.72% reduction, ~$2.76M value).
- Earnings beat but revenue miss: Casey's reported Q3 EPS of $3.49 versus a $2.94 estimate (beat) while revenue came in at $3.92B versus $4.08B expected; the stock trades near $667.67 and carries a consensus "Moderate Buy" with an average price target of $698.20.
- Dividend declared: The company announced a quarterly dividend of $0.57 ($2.28 annualized), with an ex-dividend date of May 1 and a yield of about 0.3%.
Casey's General Stores, Inc. (NASDAQ:CASY - Get Free Report) insider Katrina Lindsey sold 200 shares of the company's stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $683.04, for a total transaction of $136,608.00. Following the transaction, the insider owned 4,039 shares of the company's stock, valued at approximately $2,758,798.56. The trade was a 4.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Casey's General Stores Stock Performance
Shares of NASDAQ:CASY traded down $6.15 during midday trading on Friday, hitting $667.67. The stock had a trading volume of 159,682 shares, compared to its average volume of 411,718. The company has a market capitalization of $24.68 billion, a PE ratio of 38.35, a P/E/G ratio of 2.31 and a beta of 0.65. The stock has a 50 day moving average price of $641.66 and a two-hundred day moving average price of $578.54. The company has a current ratio of 1.04, a quick ratio of 0.65 and a debt-to-equity ratio of 0.61. Casey's General Stores, Inc. has a 1 year low of $381.33 and a 1 year high of $696.66.
Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings results on Monday, March 9th. The company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.94 by $0.55. The firm had revenue of $3.92 billion during the quarter, compared to analysts' expectations of $4.08 billion. Casey's General Stores had a net margin of 3.83% and a return on equity of 17.56%. The firm's revenue for the quarter was up .3% on a year-over-year basis. During the same period in the prior year, the company posted $2.33 earnings per share. As a group, equities analysts predict that Casey's General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.
Casey's General Stores Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 1st will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, May 1st. Casey's General Stores's dividend payout ratio (DPR) is currently 13.09%.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in CASY. Cannon Global Investment Management LLC purchased a new position in Casey's General Stores during the 3rd quarter valued at about $1,018,000. Advisors Capital Management LLC lifted its holdings in shares of Casey's General Stores by 4.4% in the third quarter. Advisors Capital Management LLC now owns 48,355 shares of the company's stock valued at $27,336,000 after purchasing an additional 2,026 shares in the last quarter. Thrivent Financial for Lutherans grew its position in shares of Casey's General Stores by 1.0% in the third quarter. Thrivent Financial for Lutherans now owns 191,156 shares of the company's stock valued at $108,065,000 after purchasing an additional 1,950 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Casey's General Stores by 0.3% during the 2nd quarter. Franklin Resources Inc. now owns 708,893 shares of the company's stock worth $361,727,000 after purchasing an additional 2,467 shares in the last quarter. Finally, AE Wealth Management LLC increased its stake in shares of Casey's General Stores by 82.3% during the 3rd quarter. AE Wealth Management LLC now owns 2,574 shares of the company's stock worth $1,456,000 after purchasing an additional 1,162 shares in the last quarter. Hedge funds and other institutional investors own 85.63% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the company. Jefferies Financial Group upped their price objective on Casey's General Stores from $700.00 to $780.00 and gave the stock a "buy" rating in a report on Tuesday. Wall Street Zen upgraded shares of Casey's General Stores from a "hold" rating to a "buy" rating in a research report on Monday, March 2nd. Stephens reaffirmed an "overweight" rating and set a $680.00 price target on shares of Casey's General Stores in a research note on Tuesday. KeyCorp reiterated an "overweight" rating and issued a $700.00 price target on shares of Casey's General Stores in a report on Thursday, February 12th. Finally, Wells Fargo & Company raised their price objective on shares of Casey's General Stores from $725.00 to $745.00 and gave the company an "overweight" rating in a research note on Tuesday. Eight analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, Casey's General Stores currently has a consensus rating of "Moderate Buy" and an average price target of $698.20.
Read Our Latest Analysis on Casey's General Stores
About Casey's General Stores
(
Get Free Report)
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.
Further Reading
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