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

Casey’s General Stores (NASDAQ:CASY) issued its quarterly earnings data on Monday. The company reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $2.94 by $0.55, Briefing.com reports. Casey’s General Stores had a return on equity of 16.89% and a net margin of 3.58%.The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.33 earnings per share.

Casey’s General Stores Stock Performance

Casey’s General Stores stock traded down $0.06 during trading hours on Monday, reaching $664.54. 980,351 shares of the stock were exchanged, compared to its average volume of 407,814. Casey’s General Stores has a 52-week low of $372.08 and a 52-week high of $690.00. The stock has a market cap of $24.63 billion, a P/E ratio of 40.87, a P/E/G ratio of 2.29 and a beta of 0.65. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.65 and a current ratio of 1.05. The firm’s 50 day moving average is $632.08 and its 200 day moving average is $574.72.

Analyst Ratings Changes

Several analysts recently commented on the stock. Northcoast Research downgraded shares of Casey’s General Stores from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 21st. Zacks Research lowered shares of Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Casey’s General Stores in a report on Monday, December 29th. Bank of America began coverage on shares of Casey’s General Stores in a research note on Friday, January 9th. They set a “buy” rating for the company. Finally, BMO Capital Markets restated a “market perform” rating and issued a $700.00 price target on shares of Casey’s General Stores in a research report on Wednesday. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $647.00.

Insider Buying and Selling at Casey’s General Stores

In other Casey’s General Stores news, Director Moats Maria Castanon bought 300 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was acquired at an average cost of $554.66 per share, with a total value of $166,398.00. Following the purchase, the director owned 803 shares in the company, valued at approximately $445,391.98. This represents a 59.64% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.54% of the stock is currently owned by insiders.

Institutional Trading of Casey’s General Stores

A number of institutional investors have recently modified their holdings of CASY. Invesco Ltd. grew its stake in Casey’s General Stores by 12.6% in the 4th quarter. Invesco Ltd. now owns 572,152 shares of the company’s stock valued at $316,234,000 after acquiring an additional 64,154 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Casey’s General Stores by 3.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 461,176 shares of the company’s stock worth $254,921,000 after acquiring an additional 13,911 shares during the last quarter. Corient Private Wealth LLC lifted its holdings in shares of Casey’s General Stores by 115.9% in the fourth quarter. Corient Private Wealth LLC now owns 423,666 shares of the company’s stock valued at $234,164,000 after purchasing an additional 227,403 shares in the last quarter. Northern Trust Corp grew its position in shares of Casey’s General Stores by 0.8% in the third quarter. Northern Trust Corp now owns 316,760 shares of the company’s stock valued at $179,071,000 after purchasing an additional 2,579 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Casey’s General Stores by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 305,526 shares of the company’s stock valued at $168,867,000 after purchasing an additional 5,422 shares during the last quarter. 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.