Casey’s General Stores (NASDAQ:CASY) Announces Quarterly Earnings Results, Beats Expectations By $0.61 EPS

Casey’s General Stores (NASDAQ:CASY) issued its quarterly earnings data on Tuesday. The company reported $5.53 earnings per share for the quarter, beating the consensus estimate of $4.92 by $0.61, FiscalAI reports. The firm had revenue of $4.51 billion for the quarter, compared to the consensus estimate of $4.51 billion. Casey’s General Stores had a net margin of 3.54% and a return on equity of 16.73%.

Casey’s General Stores Trading Down 0.6%

Shares of NASDAQ CASY traded down $3.28 during mid-day trading on Tuesday, hitting $563.24. 514,214 shares of the company traded hands, compared to its average volume of 342,485. The company has a quick ratio of 0.61, a current ratio of 1.03 and a debt-to-equity ratio of 0.65. Casey’s General Stores has a 1 year low of $372.08 and a 1 year high of $573.76. The stock has a market capitalization of $20.94 billion, a price-to-earnings ratio of 36.15 and a beta of 0.65. The business has a 50 day moving average of $549.21 and a two-hundred day moving average of $523.16.

Analyst Upgrades and Downgrades

CASY has been the topic of several analyst reports. Stephens raised their price target on shares of Casey’s General Stores from $570.00 to $600.00 and gave the company an “overweight” rating in a research note on Wednesday, December 3rd. Zacks Research lowered Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a report on Friday, November 21st. Evercore ISI raised their target price on Casey’s General Stores from $585.00 to $610.00 and gave the company an “outperform” rating in a research report on Tuesday, December 2nd. UBS Group began coverage on Casey’s General Stores in a research note on Wednesday, December 3rd. They set a “neutral” rating and a $600.00 target price on the stock. Finally, The Goldman Sachs Group boosted their price target on Casey’s General Stores from $450.00 to $490.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 10th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Casey’s General Stores presently has a consensus rating of “Moderate Buy” and a consensus price target of $575.78.

Insider Transactions at Casey’s General Stores

In other Casey’s General Stores news, insider Chad Michael Frazell sold 3,487 shares of the company’s stock in a transaction dated 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 sale, the insider directly owned 7,993 shares of the company’s stock, valued at approximately $4,439,312.20. This represents a 30.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Casey’s General Stores

A number of large investors have recently made changes to their positions in CASY. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Casey’s General Stores by 9.1% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 227 shares of the company’s stock valued at $128,000 after buying an additional 19 shares during the last quarter. Scotia Capital Inc. raised its position in Casey’s General Stores by 2.9% during the third quarter. Scotia Capital Inc. now owns 720 shares of the company’s stock valued at $407,000 after acquiring an additional 20 shares in the last quarter. Ancora Advisors LLC raised its position in Casey’s General Stores by 4.5% during the third quarter. Ancora Advisors LLC now owns 726 shares of the company’s stock valued at $410,000 after acquiring an additional 31 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Casey’s General Stores by 44.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 120 shares of the company’s stock valued at $68,000 after acquiring an additional 37 shares during the last quarter. Finally, Vident Advisory LLC grew its position in Casey’s General Stores by 4.5% in the second quarter. Vident Advisory LLC now owns 1,504 shares of the company’s stock worth $767,000 after acquiring an additional 65 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

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.