Casey’s General Stores Inc (NASDAQ:CASY) Short Interest Up 9.0% in November

Casey’s General Stores Inc (NASDAQ:CASY) was the target of a significant increase in short interest in the month of November. As of November 29th, there was short interest totalling 1,210,000 shares, an increase of 9.0% from the November 14th total of 1,110,000 shares. Approximately 3.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 285,900 shares, the days-to-cover ratio is currently 4.2 days.

In other news, Director Allison M. Wing sold 554 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $165.91, for a total value of $91,914.14. Following the completion of the sale, the director now owns 998 shares in the company, valued at $165,578.18. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.41% of the company’s stock.

Several institutional investors have recently made changes to their positions in CASY. Metropolitan Life Insurance Co NY raised its position in Casey’s General Stores by 2.4% during the third quarter. Metropolitan Life Insurance Co NY now owns 10,713 shares of the company’s stock valued at $1,727,000 after buying an additional 247 shares during the period. Squarepoint Ops LLC acquired a new position in Casey’s General Stores during the third quarter valued at $22,307,000. Barclays PLC raised its position in Casey’s General Stores by 113.9% during the third quarter. Barclays PLC now owns 41,376 shares of the company’s stock valued at $6,668,000 after buying an additional 22,029 shares during the period. Public Employees Retirement System of Ohio raised its position in Casey’s General Stores by 1.4% during the third quarter. Public Employees Retirement System of Ohio now owns 47,723 shares of the company’s stock valued at $7,691,000 after buying an additional 652 shares during the period. Finally, WealthPLAN Partners LLC raised its position in Casey’s General Stores by 6.9% during the third quarter. WealthPLAN Partners LLC now owns 29,594 shares of the company’s stock valued at $5,032,000 after buying an additional 1,923 shares during the period. 86.23% of the stock is currently owned by institutional investors.

Several analysts have recently weighed in on CASY shares. BMO Capital Markets cut their price objective on Casey’s General Stores from $170.00 to $165.00 and set a “market perform” rating for the company in a report on Wednesday. Wells Fargo & Co upped their price objective on Casey’s General Stores from $145.00 to $165.00 and gave the company a “market perform” rating in a report on Wednesday, September 11th. BidaskClub lowered Casey’s General Stores from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Royal Bank of Canada lowered Casey’s General Stores from a “sector perform” rating to an “underperform” rating and upped their price objective for the company from $144.00 to $158.00 in a report on Thursday, August 29th. Finally, Deutsche Bank upped their price objective on Casey’s General Stores from $166.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $172.30.

Shares of Casey’s General Stores stock traded down $0.21 on Friday, reaching $153.81. 386,766 shares of the company were exchanged, compared to its average volume of 316,340. The stock has a fifty day moving average price of $170.10 and a 200-day moving average price of $162.10. The firm has a market capitalization of $5.67 billion, a price-to-earnings ratio of 27.91, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. The company has a current ratio of 0.36, a quick ratio of 0.29 and a debt-to-equity ratio of 0.46. Casey’s General Stores has a fifty-two week low of $121.24 and a fifty-two week high of $179.21.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Monday, December 9th. The company reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.06. The company had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.53 billion. Casey’s General Stores had a return on equity of 16.06% and a net margin of 2.51%. Casey’s General Stores’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.80 earnings per share. On average, equities analysts anticipate that Casey’s General Stores will post 6.38 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, February 17th. Stockholders of record on Monday, February 3rd will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, January 31st. Casey’s General Stores’s dividend payout ratio (DPR) is presently 23.23%.

Casey’s General Stores Company Profile

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. The company's stores offer a selection of food, including freshly prepared foods, such as pizza, donuts, and sandwiches; beverage and tobacco products; health and beauty aids; automotive products; school supplies, housewares, and pet supplies; and other nonfood items.

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