Casey’s General Stores (NASDAQ:CASY) Shares Down 8% – What’s Next?

Casey’s General Stores, Inc. (NASDAQ:CASY) shares were down 8% during trading on Wednesday . The stock traded as low as $768.43 and last traded at $764.9370. Approximately 177,158 shares changed hands during trading, a decline of 67% from the average session volume of 530,240 shares. The stock had previously closed at $831.89.

Casey’s General Stores News Summary

Here are the key news stories impacting Casey’s General Stores this week:

• Positive Sentiment: Zacks Research raised earnings estimates across several future periods for Casey’s, including FY2027, FY2028 and FY2029, signaling confidence in the company’s long-term profit growth.
• Positive Sentiment: Zacks also highlighted CASY on its Momentum Stocks list and Focus List, citing earnings growth and price strength as reasons the stock remains attractive. Source article
• Positive Sentiment: Analysts pointed to Casey’s expanding growth drivers beyond store count, including stronger inside sales, fuel margins, digital engagement, acquisitions and food offerings, which could support earnings growth. Source article
• Positive Sentiment: Casey’s was also featured in a dividend-focused article, reinforcing its appeal to income-oriented investors as a quality consumer name. Source article
• Neutral Sentiment: Some commentary remains mixed, with Zacks Research keeping a Hold rating even while lifting estimates, suggesting the outlook is constructive but not overwhelmingly bullish.
• Negative Sentiment: One analysis warned that CASY may be too expensive for new buyers, noting that the stock’s rich valuation leaves less room for execution missteps.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CASY. Wolfe Research restated an “outperform” rating and issued a $1,069.00 price objective on shares of Casey’s General Stores in a research report on Thursday, June 11th. Royal Bank Of Canada increased their price objective on Casey’s General Stores from $792.00 to $794.00 and gave the company a “sector perform” rating in a research report on Wednesday, June 10th. Stephens set a $975.00 target price on Casey’s General Stores and gave the company an “overweight” rating in a research note on Friday, June 12th. Morgan Stanley upgraded Casey’s General Stores to a “buy” rating in a research report on Wednesday, June 10th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $695.00 price target on shares of Casey’s General Stores in a research note on Wednesday, June 10th. Eleven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $923.00.

Casey’s General Stores Price Performance

The company’s fifty day moving average is $815.33 and its two-hundred day moving average is $700.66. The firm has a market capitalization of $29.37 billion, a price-to-earnings ratio of 41.71, a price-to-earnings-growth ratio of 2.52 and a beta of 0.61. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $1.06. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The firm had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same quarter in the previous year, the business earned $2.63 EPS. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. Equities research analysts anticipate that Casey’s General Stores, Inc. will post 20.9 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Saturday, August 1st will be given a $0.65 dividend. The ex-dividend date is Friday, July 31st. This represents a $2.60 annualized dividend and a dividend yield of 0.3%. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.57. Casey’s General Stores’s dividend payout ratio is 13.57%.

Institutional Investors Weigh In On Casey’s General Stores

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in Casey’s General Stores by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 760,438 shares of the company’s stock worth $420,416,000 after acquiring an additional 52,250 shares during the last quarter. North Dakota State Investment Board bought a new stake in Casey’s General Stores in the fourth quarter valued at approximately $720,000. Jackson Creek Investment Advisors LLC bought a new stake in Casey’s General Stores in the fourth quarter valued at approximately $1,338,000. PNC Financial Services Group Inc. raised its holdings in Casey’s General Stores by 2.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 140,491 shares of the company’s stock worth $77,651,000 after purchasing an additional 3,553 shares during the period. Finally, Intech Investment Management LLC raised its holdings in Casey’s General Stores by 57.9% in the fourth quarter. Intech Investment Management LLC now owns 18,800 shares of the company’s stock worth $10,391,000 after purchasing an additional 6,894 shares during the period. Institutional investors own 85.63% of the company’s stock.

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.