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

Shares of Casey’s General Stores, Inc. (NASDAQ:CASY) gapped down prior to trading 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 traded.

Other equities analysts have also issued reports about the company. Wolfe Research reaffirmed 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. William Blair started coverage on Casey’s General Stores in a research note on Wednesday, May 20th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Casey’s General Stores from $975.00 to $833.00 and set a “neutral” rating for the company in a report on Thursday, September 3rd. Wells Fargo & Company dropped their target price on shares of Casey’s General Stores from $960.00 to $750.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, KeyCorp decreased their price target on shares of Casey’s General Stores from $970.00 to $780.00 and set an “overweight” rating for the company in a research note on Thursday. Fifteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $854.12.

Insider Activity

In other Casey’s General Stores news, CEO Darren M. Rebelez sold 19,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $801.46, for a total value of $15,227,740.00. Following the completion of the sale, the chief executive officer owned 89,174 shares of the company’s stock, valued at $71,469,394.04. This represents a 17.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Allison M. Wing sold 530 shares of Casey’s General Stores stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $837.58, for a total transaction of $443,917.40. Following the transaction, the director directly owned 3,042 shares in the company, valued at $2,547,918.36. This trade represents a 14.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 30,243 shares of company stock valued at $24,421,877. 0.67% of the stock is owned by insiders.

Key Casey’s General Stores News

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

Large investors have recently added to or reduced their stakes in the business. Fiduciary Financial Advisors purchased a new stake in Casey’s General Stores during the second quarter valued at about $26,000. Whipplewood Advisors LLC bought a new stake in shares of Casey’s General Stores in the 1st quarter valued at about $33,000. Bell Investment Advisors Inc purchased a new stake in Casey’s General Stores during the 2nd quarter valued at about $33,000. Caitlin John LLC purchased a new stake in Casey’s General Stores during the 2nd quarter valued at about $35,000. Finally, Larson Financial Group LLC grew its position 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 last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Trading Down 0.2%

The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.60 and a current ratio of 1.02. The firm has a 50-day moving average of $818.89 and a 200-day moving average of $786.30. The firm has a market capitalization 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.

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

Casey’s General Stores Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Sunday, November 1st will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend 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.