Casey’s General Stores (NASDAQ:CASY) Shares Gap Up After Strong Earnings

Casey’s General Stores, Inc. (NASDAQ:CASY)’s stock price gapped up before the market opened on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $761.18, but opened at $800.65. Casey’s General Stores shares last traded at $879.6420, with a volume of 243,003 shares.

The company reported $4.37 earnings per share for the quarter, beating the consensus estimate of $3.31 by $1.06. The business had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.33 billion. Casey’s General Stores had a return on equity of 17.56% and a net margin of 3.83%.The company’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.63 EPS.

Casey’s General Stores Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Saturday, August 1st will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, July 31st. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.57. Casey’s General Stores’s payout ratio is 13.09%.

Casey’s General Stores News Roundup

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

• Positive Sentiment: Casey’s posted Q4 EPS of $4.37, easily topping estimates, while revenue of $4.57 billion also beat expectations. The strong beat suggests solid underlying demand and improved profitability. Casey’s Announces Fourth Quarter and Fiscal Year Results
• Positive Sentiment: Management raised the quarterly dividend 14% to $0.65 per share, signaling confidence in cash flow and future earnings power. Casey’s General Stores raises dividend by 14% to $0.65
• Positive Sentiment: Results were helped by strong pizza, appetizer, sides, and beverage sales, showing that Casey’s food service business is still a meaningful growth driver. Casey’s General Stores Results Helped by Pizza Sales
• Neutral Sentiment: Some commentary says the stock may be harder to justify at around 41x earnings after the rally, which could temper upside if investors become more valuation-conscious. Casey’s General Stores Q4: Hard To Buy At 41x Earnings

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CASY shares. KeyCorp raised their price target on shares of Casey’s General Stores from $830.00 to $860.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Evercore reissued an “outperform” rating and issued a $915.00 target price on shares of Casey’s General Stores in a research note on Monday, May 18th. William Blair initiated coverage on Casey’s General Stores in a research report on Wednesday, May 20th. They issued an “outperform” rating for the company. BMO Capital Markets reiterated a “market perform” rating and set a $700.00 price objective on shares of Casey’s General Stores in a research report on Wednesday, March 4th. Finally, The Goldman Sachs Group boosted their price objective on Casey’s General Stores from $530.00 to $605.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 11th. Ten equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Casey’s General Stores has an average rating of “Moderate Buy” and a consensus price target of $788.73.

Insider Buying and Selling at Casey’s General Stores

In other news, Director Mike Spanos purchased 300 shares of the business’s stock in a transaction dated Friday, March 13th. The stock was acquired at an average price of $665.43 per share, for a total transaction of $199,629.00. Following the acquisition, the director directly owned 4,499 shares of the company’s stock, valued at approximately $2,993,769.57. This represents a 7.14% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.54% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Foster Dykema Cabot & Partners LLC acquired a new stake in Casey’s General Stores during the third quarter worth $25,000. Central Pacific Bank Trust Division grew its holdings in shares of Casey’s General Stores by 52.8% during the 4th quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock worth $30,000 after purchasing an additional 19 shares during the period. True Wealth Design LLC grew its holdings in shares of Casey’s General Stores by 350.0% during the 4th quarter. True Wealth Design LLC now owns 54 shares of the company’s stock worth $30,000 after purchasing an additional 42 shares during the period. Whipplewood Advisors LLC acquired a new stake in shares of Casey’s General Stores during the 1st quarter worth about $33,000. Finally, ORG Partners LLC increased its position in shares of Casey’s General Stores by 47.6% during the 4th quarter. ORG Partners LLC now owns 62 shares of the company’s stock worth $34,000 after purchasing an additional 20 shares during the last quarter. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Casey’s General Stores Stock Performance

The firm’s fifty day moving average is $790.09 and its 200-day moving average is $679.24. The company has a current ratio of 1.04, a quick ratio of 0.64 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $32.59 billion, a PE ratio of 50.54, a price-to-earnings-growth ratio of 2.09 and a beta of 0.61.

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.