Casey’s General Stores Sees Unusually Large Options Volume (NASDAQ:CASY)

Casey’s General Stores Inc (NASDAQ:CASY) was the target of unusually large options trading on Tuesday. Traders purchased 2,351 call options on the stock. This represents an increase of approximately 3,818% compared to the typical daily volume of 60 call options.

Shares of NASDAQ CASY opened at $146.39 on Wednesday. Casey’s General Stores has a 1 year low of $90.42 and a 1 year high of $149.48. The stock has a market cap of $5.36 billion, a PE ratio of 38.42, a price-to-earnings-growth ratio of 2.45 and a beta of 0.45. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.22 and a current ratio of 0.76.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Monday, June 10th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.27. Casey’s General Stores had a return on equity of 14.89% and a net margin of 2.14%. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the company earned $0.51 earnings per share. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. Equities research analysts anticipate that Casey’s General Stores will post 5.2 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.87%. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, July 31st. Casey’s General Stores’s payout ratio is presently 30.45%.

Several research analysts recently weighed in on CASY shares. Sidoti set a $138.00 target price on Casey’s General Stores and gave the stock a “hold” rating in a research report on Friday, February 15th. BidaskClub raised Casey’s General Stores from a “sell” rating to a “hold” rating in a research report on Wednesday, February 20th. Zacks Investment Research lowered Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Wednesday, March 13th. Gabelli reissued a “buy” rating on shares of Casey’s General Stores in a research report on Wednesday, March 13th. Finally, JPMorgan Chase & Co. began coverage on Casey’s General Stores in a research report on Thursday, April 25th. They issued a “neutral” rating and a $140.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $138.20.

In related news, SVP Julia L. Jackowski sold 12,500 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $125.95, for a total value of $1,574,375.00. Following the transaction, the senior vice president now directly owns 32,944 shares of the company’s stock, valued at approximately $4,149,296.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP William J. Walljasper sold 3,000 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $126.05, for a total value of $378,150.00. Following the completion of the transaction, the vice president now directly owns 24,785 shares in the company, valued at $3,124,149.25. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Clearbridge Investments LLC boosted its stake in Casey’s General Stores by 2.0% in the first quarter. Clearbridge Investments LLC now owns 1,425,212 shares of the company’s stock valued at $183,525,000 after acquiring an additional 28,550 shares during the period. Rehmann Capital Advisory Group boosted its stake in Casey’s General Stores by 188.4% in the first quarter. Rehmann Capital Advisory Group now owns 398 shares of the company’s stock valued at $51,000 after acquiring an additional 260 shares during the period. Nordea Investment Management AB boosted its stake in Casey’s General Stores by 48.7% in the first quarter. Nordea Investment Management AB now owns 71,542 shares of the company’s stock valued at $9,212,000 after acquiring an additional 23,442 shares during the period. WealthPLAN Partners LLC boosted its stake in Casey’s General Stores by 7.8% in the first quarter. WealthPLAN Partners LLC now owns 31,113 shares of the company’s stock valued at $4,135,000 after acquiring an additional 2,254 shares during the period. Finally, One Wealth Advisors LLC acquired a new position in Casey’s General Stores in the first quarter valued at approximately $189,000. 90.23% of the stock is currently owned by institutional investors and hedge funds.

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About Casey’s General Stores

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. The company's stores offer a selection of food, including freshly prepared foods, such as pizza, donuts, and sandwiches; beverage and tobacco products; health and beauty aids; automotive products; school supplies, housewares, and pet supplies; and other nonfood items.

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