Casey’s General Stores, Inc. (NASDAQ:CASY) Sees Significant Decrease in Short Interest

Casey’s General Stores, Inc. (NASDAQ:CASYGet Rating) saw a significant drop in short interest during the month of April. As of April 30th, there was short interest totalling 681,000 shares, a drop of 16.4% from the April 15th total of 814,600 shares. Based on an average daily volume of 272,900 shares, the days-to-cover ratio is currently 2.5 days.

Several brokerages recently issued reports on CASY. Royal Bank of Canada dropped their target price on shares of Casey’s General Stores from $237.00 to $235.00 and set a “sector perform” rating on the stock in a report on Wednesday, March 9th. StockNews.com started coverage on shares of Casey’s General Stores in a research note on Thursday, March 31st. They set a “buy” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Casey’s General Stores from $257.00 to $259.00 and gave the stock a “buy” rating in a research note on Thursday, March 10th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $232.70.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Weiss Multi Strategy Advisers LLC bought a new stake in Casey’s General Stores in the 1st quarter valued at $21,799,000. Quantbot Technologies LP bought a new stake in Casey’s General Stores in the 1st quarter valued at $2,256,000. Royal Bank of Canada increased its holdings in Casey’s General Stores by 6.3% in the 1st quarter. Royal Bank of Canada now owns 142,536 shares of the company’s stock valued at $28,246,000 after acquiring an additional 8,448 shares during the last quarter. Eaton Vance Management increased its holdings in Casey’s General Stores by 3,007.1% in the 1st quarter. Eaton Vance Management now owns 19,295 shares of the company’s stock valued at $3,824,000 after acquiring an additional 18,674 shares during the last quarter. Finally, First Republic Investment Management Inc. increased its holdings in Casey’s General Stores by 5.1% in the 1st quarter. First Republic Investment Management Inc. now owns 2,950 shares of the company’s stock valued at $585,000 after acquiring an additional 142 shares during the last quarter. Institutional investors own 84.44% of the company’s stock.

Shares of CASY stock opened at $213.95 on Wednesday. The company has a market capitalization of $7.94 billion, a price-to-earnings ratio of 24.85 and a beta of 0.77. Casey’s General Stores has a one year low of $170.82 and a one year high of $226.93. The company’s fifty day moving average price is $200.66 and its 200-day moving average price is $194.55. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.84 and a quick ratio of 0.39.

Casey’s General Stores (NASDAQ:CASYGet Rating) last announced its quarterly earnings data on Tuesday, March 8th. The company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.45 by $0.26. The firm had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.05 billion. Casey’s General Stores had a net margin of 2.71% and a return on equity of 15.56%. The company’s revenue was up 51.8% on a year-over-year basis. During the same period last year, the firm earned $1.04 EPS. Equities research analysts expect that Casey’s General Stores will post 8.92 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 16th. Stockholders of record on Monday, May 2nd were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, April 29th. This represents a $1.40 annualized dividend and a dividend yield of 0.65%. Casey’s General Stores’s payout ratio is 16.26%.

About Casey’s General Stores (Get Rating)

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

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