Casey’s General Stores (NASDAQ:CASY) Announces Earnings Results

Casey’s General Stores (NASDAQ:CASY) issued its earnings results on Tuesday. The company reported $7.37 earnings per share for the quarter, topping analysts’ consensus estimates of $6.78 by $0.59, FiscalAI reports. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.56 billion.

Casey’s General Stores Price Performance

Shares of NASDAQ CASY traded down $22.60 during midday trading on Tuesday, reaching $733.49. 858,722 shares of the company were exchanged, compared to its average volume of 493,610. The stock’s 50-day moving average price is $826.62 and its 200-day moving average price is $786.29. The stock has a market cap of $27.15 billion, a P/E ratio of 38.28, a PEG ratio of 2.58 and a beta of 0.59. Casey’s General Stores has a one year low of $497.38 and a one year high of $927.85. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59.

Insider Buying and Selling

In other Casey’s General Stores news, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the company’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $838.16, for a total value of $4,777,512.00. Following the completion of the transaction, the chief financial officer owned 29,677 shares of the company’s stock, valued at $24,874,074.32. This represents a 16.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Darren M. Rebelez sold 19,000 shares of the company’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $801.46, for a total value of $15,227,740.00. Following the completion of the transaction, the chief executive officer directly owned 89,174 shares of the company’s stock, valued at approximately $71,469,394.04. The trade was a 17.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 30,243 shares of company stock worth $24,421,877 in the last ninety days. Insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Osterweis Capital Management Inc. bought a new position in Casey’s General Stores in the 2nd quarter valued at approximately $45,000. Measured Wealth Private Client Group LLC bought a new stake in Casey’s General Stores during the 3rd quarter worth approximately $62,000. Rossby Financial LCC grew its holdings in Casey’s General Stores by 23.3% during the 4th quarter. Rossby Financial LCC now owns 111 shares of the company’s stock worth $61,000 after acquiring an additional 21 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in Casey’s General Stores by 44.6% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 120 shares of the company’s stock valued at $68,000 after acquiring an additional 37 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new position in Casey’s General Stores in the 4th quarter valued at approximately $89,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CASY shares. William Blair started coverage on Casey’s General Stores in a report on Wednesday, May 20th. They set an “outperform” rating on the stock. Morgan Stanley raised shares of Casey’s General Stores to a “buy” rating in a research report on Wednesday, June 10th. Wall Street Zen raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. JPMorgan Chase & Co. cut their target price on shares of Casey’s General Stores from $975.00 to $833.00 and set a “neutral” rating for the company in a research note on Thursday, September 3rd. Finally, Stephens set a $975.00 price objective on shares of Casey’s General Stores and gave the stock an “overweight” rating in a research report on Friday, June 12th. Fourteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $928.53.

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.