Short Interest in Casey’s General Stores, Inc. (NASDAQ:CASY) Decreases By 32.3%

Casey’s General Stores, Inc. (NASDAQ:CASY) was the recipient of a significant decline in short interest in the month of August. As of August 14th, there was short interest totaling 1,143,057 shares, a decline of 32.3% from the July 30th total of 1,688,551 shares. Based on an average trading volume of 285,907 shares, the short-interest ratio is currently 4.0 days. Currently, 3.1% of the company’s shares are sold short.

Casey’s General Stores Stock Up 3.0%

Shares of CASY traded up $22.90 during mid-day trading on Tuesday, hitting $775.11. 140,762 shares of the company’s stock were exchanged, compared to its average volume of 491,842. The company has a market cap of $28.69 billion, a PE ratio of 40.36, a P/E/G ratio of 2.59 and a beta of 0.61. Casey’s General Stores has a 52 week low of $490.50 and a 52 week high of $927.85. The company has a 50-day simple moving average of $830.33 and a 200 day simple moving average of $782.87. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.31 by $1.06. The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.33 billion. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The firm’s revenue was up 14.5% compared to the same quarter last year. During the same period last year, the company earned $2.63 earnings per share. On average, research analysts forecast that Casey’s General Stores will post 21.11 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Saturday, August 1st were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.3%. The ex-dividend date was Friday, July 31st. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.57. Casey’s General Stores’s dividend payout ratio (DPR) is presently 13.57%.

Insider Buying and Selling

In related news, CEO Darren M. Rebelez sold 19,000 shares of the stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $801.46, for a total transaction of $15,227,740.00. Following the completion of the sale, the chief executive officer directly owned 89,174 shares of the company’s stock, valued at approximately $71,469,394.04. This represents a 17.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $838.16, for a total transaction of $4,777,512.00. Following the sale, the chief financial officer owned 29,677 shares in the company, valued at $24,874,074.32. This trade represents a 16.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 30,243 shares of company stock valued at $24,421,877. 0.67% of the stock is owned by company insiders.

Institutional Investors Weigh In On Casey’s General Stores

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fiduciary Financial Advisors bought a new position in shares of Casey’s General Stores in the 2nd quarter valued at about $26,000. Bell Investment Advisors Inc bought a new stake in Casey’s General Stores during the second quarter worth about $33,000. Caitlin John LLC acquired a new position in Casey’s General Stores during the second quarter valued at approximately $35,000. Whipplewood Advisors LLC acquired a new position in Casey’s General Stores during the first quarter valued at approximately $33,000. Finally, Groupe la Francaise acquired a new position in Casey’s General Stores during the second quarter valued at approximately $42,000. 85.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CASY shares. Evercore reiterated an “outperform” rating and issued a $990.00 price target on shares of Casey’s General Stores in a report on Friday, June 12th. UBS Group cut their price objective on shares of Casey’s General Stores from $945.00 to $925.00 and set a “neutral” rating on the stock in a research report on Thursday, August 27th. Northcoast Research raised shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $950.00 target price for the company in a research note on Monday, July 13th. Weiss Ratings cut Casey’s General Stores from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, July 21st. Finally, Morgan Stanley raised Casey’s General Stores to a “buy” rating in a research note on Wednesday, June 10th. Fourteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Casey’s General Stores has an average rating of “Moderate Buy” and a consensus target price of $942.87.

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.