Investors Purchase Large Volume of Casey’s General Stores Put Options (NASDAQ:CASY)

Casey’s General Stores Inc (NASDAQ:CASY) was the target of some unusual options trading activity on Monday. Investors acquired 1,205 put options on the stock. This is an increase of approximately 1,445% compared to the typical volume of 78 put options.

In other Casey’s General Stores news, Director Allison M. Wing sold 554 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $165.91, for a total transaction of $91,914.14. Following the completion of the sale, the director now owns 998 shares of the company’s stock, valued at approximately $165,578.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.41% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. UBS Asset Management Americas Inc. increased its stake in shares of Casey’s General Stores by 7.7% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 62,023 shares of the company’s stock worth $9,675,000 after acquiring an additional 4,438 shares in the last quarter. Benjamin Edwards Inc. increased its stake in Casey’s General Stores by 9.3% during the 3rd quarter. Benjamin Edwards Inc. now owns 976 shares of the company’s stock valued at $157,000 after purchasing an additional 83 shares in the last quarter. State of New Jersey Common Pension Fund D bought a new stake in Casey’s General Stores during the 3rd quarter valued at about $5,608,000. Carillon Tower Advisers Inc. increased its stake in Casey’s General Stores by 29.1% during the 2nd quarter. Carillon Tower Advisers Inc. now owns 830,521 shares of the company’s stock valued at $129,553,000 after purchasing an additional 187,330 shares in the last quarter. Finally, KBC Group NV increased its stake in Casey’s General Stores by 5.9% during the 2nd quarter. KBC Group NV now owns 28,053 shares of the company’s stock valued at $4,376,000 after purchasing an additional 1,569 shares in the last quarter. Institutional investors own 86.23% of the company’s stock.

Shares of Casey’s General Stores stock opened at $158.72 on Wednesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.76 and a quick ratio of 0.29. The company has a 50-day moving average of $170.59 and a 200 day moving average of $161.77. The firm has a market cap of $6.46 billion, a price-to-earnings ratio of 28.81, a PEG ratio of 3.06 and a beta of 0.52. Casey’s General Stores has a 1 year low of $116.23 and a 1 year high of $179.21.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Monday, December 9th. The company reported $2.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.15 by $0.06. The company had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.53 billion. Casey’s General Stores had a net margin of 2.34% and a return on equity of 15.55%. Casey’s General Stores’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the business earned $1.80 EPS. On average, equities analysts anticipate that Casey’s General Stores will post 6.3 EPS for the current year.

Several research analysts have commented on the stock. Jefferies Financial Group set a $192.00 price objective on shares of Casey’s General Stores and gave the stock a “buy” rating in a report on Tuesday, September 10th. ValuEngine lowered shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Sidoti upped their price objective on shares of Casey’s General Stores from $166.00 to $174.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Deutsche Bank upped their price objective on shares of Casey’s General Stores from $166.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Finally, Wells Fargo & Co upped their price objective on shares of Casey’s General Stores from $145.00 to $165.00 and gave the stock a “market perform” rating in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $172.80.

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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