Short Interest in Casey’s General Stores, Inc. (NASDAQ:CASY) Drops By 28.1%

Casey’s General Stores, Inc. (NASDAQ:CASY) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totaling 627,500 shares, a drop of 28.1% from the September 15th total of 872,300 shares. Based on an average daily volume of 313,000 shares, the days-to-cover ratio is presently 2.0 days. Based on an average daily volume of 313,000 shares, the days-to-cover ratio is presently 2.0 days.

Casey’s General Stores Trading Down 2.3%

Shares of Casey’s General Stores stock opened at $532.87 on Friday. Casey’s General Stores has a 52-week low of $372.08 and a 52-week high of $572.18. The stock’s 50-day simple moving average is $536.72 and its 200 day simple moving average is $500.97. The stock has a market capitalization of $19.81 billion, a P/E ratio of 34.20 and a beta of 0.68. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.61 and a current ratio of 1.03.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Monday, September 8th. The company reported $5.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.02 by $0.75. Casey’s General Stores had a return on equity of 16.73% and a net margin of 3.54%.The business had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.47 billion. During the same period in the previous year, the business posted $4.83 EPS. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. As a group, research analysts anticipate that Casey’s General Stores will post 13.94 EPS for the current year.

Casey’s General Stores Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Saturday, November 1st will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $2.28 annualized dividend and a dividend yield of 0.4%. Casey’s General Stores’s payout ratio is presently 14.63%.

Insider Transactions at Casey’s General Stores

In other Casey’s General Stores news, insider Chad Michael Frazell sold 3,487 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $555.40, for a total transaction of $1,936,679.80. Following the completion of the transaction, the insider owned 7,993 shares in the company, valued at approximately $4,439,312.20. This trade represents a 30.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.54% of the company’s stock.

Institutional Trading of Casey’s General Stores

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Summit Securities Group LLC purchased a new stake in shares of Casey’s General Stores during the first quarter valued at approximately $32,000. Nvwm LLC bought a new position in shares of Casey’s General Stores during the second quarter valued at approximately $32,000. Rossby Financial LCC raised its holdings in shares of Casey’s General Stores by 580.0% during the second quarter. Rossby Financial LCC now owns 68 shares of the company’s stock valued at $35,000 after acquiring an additional 58 shares in the last quarter. Iron Horse Wealth Management LLC raised its holdings in shares of Casey’s General Stores by 40.0% during the first quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company’s stock valued at $40,000 after acquiring an additional 26 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in Casey’s General Stores in the second quarter worth $42,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Wells Fargo & Company began coverage on shares of Casey’s General Stores in a research note on Wednesday, October 15th. They issued an “overweight” rating and a $610.00 price objective for the company. Evercore ISI lifted their price target on shares of Casey’s General Stores from $580.00 to $585.00 and gave the company an “outperform” rating in a research report on Tuesday. KeyCorp lifted their price target on shares of Casey’s General Stores from $550.00 to $575.00 and gave the company an “overweight” rating in a research report on Friday, July 25th. BMO Capital Markets lifted their price target on shares of Casey’s General Stores from $515.00 to $540.00 and gave the company a “market perform” rating in a research report on Wednesday, September 10th. Finally, Royal Bank Of Canada lifted their price target on shares of Casey’s General Stores from $468.00 to $542.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $536.60.

About Casey’s General Stores

Casey’s General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.