Casey’s General Stores Inc. (CASY) Short Interest Up 44.7% in September
Casey’s General Stores Inc. (NASDAQ:CASY) was the target of a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 2,317,983 shares, a growth of 44.7% from the August 31st total of 1,601,530 shares. Approximately 6.0% of the company’s shares are sold short. Based on an average daily volume of 868,826 shares, the short-interest ratio is currently 2.7 days.
Shares of Casey’s General Stores (NASDAQ:CASY) opened at 117.20 on Wednesday. The stock has a 50 day moving average price of $124.85 and a 200 day moving average price of $121.70. Casey’s General Stores has a 52 week low of $98.80 and a 52 week high of $136.22. The firm has a market capitalization of $4.59 billion, a P/E ratio of 20.00 and a beta of 0.51.
Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Tuesday, September 6th. The company reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by $0.11. Casey’s General Stores had a return on equity of 21.62% and a net margin of 3.29%. The company had revenue of $1.97 billion for the quarter. During the same period in the prior year, the company earned $1.57 earnings per share. The business’s revenue was down 3.8% compared to the same quarter last year. Analysts forecast that Casey’s General Stores will post $5.66 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Tuesday, November 1st will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Friday, October 28th. Casey’s General Stores’s dividend payout ratio is presently 16.38%.
In related news, Director Richard A. Wilkey acquired 340 shares of the firm’s stock in a transaction that occurred on Wednesday, September 21st. The stock was acquired at an average cost of $117.80 per share, for a total transaction of $40,052.00. Following the completion of the acquisition, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $1,767,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the company. Advisors Asset Management Inc. acquired a new stake in Casey’s General Stores during the second quarter valued at $132,000. IFP Advisors Inc increased its stake in Casey’s General Stores by 179.3% in the first quarter. IFP Advisors Inc now owns 1,271 shares of the company’s stock valued at $144,000 after buying an additional 816 shares in the last quarter. Calamos Wealth Management LLC acquired a new stake in Casey’s General Stores during the second quarter valued at $205,000. Dynamic Technology Lab Private Ltd acquired a new stake in Casey’s General Stores during the second quarter valued at $211,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in Casey’s General Stores during the second quarter valued at $221,000. 83.53% of the stock is owned by institutional investors and hedge funds.
CASY has been the subject of a number of recent research reports. Wells Fargo & Co. restated a “hold” rating on shares of Casey’s General Stores in a report on Thursday, September 8th. Deutsche Bank AG decreased their price objective on Casey’s General Stores from $141.00 to $135.00 and set a “buy” rating for the company in a report on Monday, September 12th. Royal Bank Of Canada increased their price objective on Casey’s General Stores from $139.00 to $145.00 and gave the company an “outperform” rating in a report on Thursday, September 1st. Barclays PLC initiated coverage on Casey’s General Stores in a report on Thursday, September 22nd. They set an “equal weight” rating and a $116.00 price target for the company. Finally, Jefferies Group increased their price target on Casey’s General Stores from $113.00 to $137.00 and gave the stock a “hold” rating in a report on Monday, August 22nd. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Casey’s General Stores has an average rating of “Buy” and an average target price of $135.90.
Casey’s General Stores Company Profile
Casey’s General Stores, Inc and its subsidiaries, operate convenience stores under the name Casey’s General Store in approximately 10 Midwestern states, in Iowa, Missouri, and Illinois. The Company also operates approximately two stores selling primarily tobacco products. The stores carry a range of food, including freshly prepared foods such as pizza, donuts, and sandwiches, beverages, tobacco products, health and beauty aids, automotive products and other nonfood items.
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