Casey’s General Stores (CASY) Shares Down 5.1%

Shares of Casey’s General Stores (NASDAQ:CASY) fell 5.1% during trading on Friday . The stock traded as low as $100.42 and last traded at $101.57. 894,677 shares traded hands during trading, an increase of 98% from the average session volume of 451,732 shares. The stock had previously closed at $107.04.

Several research firms have recently commented on CASY. BidaskClub raised shares of Casey’s General Stores from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 6th. Goldman Sachs began coverage on shares of Casey’s General Stores in a research report on Thursday, April 5th. They set a “neutral” rating and a $106.00 price target on the stock. BMO Capital Markets set a $122.00 price target on shares of Casey’s General Stores and gave the company a “hold” rating in a research report on Wednesday, March 7th. Stephens set a $140.00 price target on shares of Casey’s General Stores and gave the company a “buy” rating in a research report on Wednesday, March 21st. Finally, Wells Fargo lifted their price target on shares of Casey’s General Stores from $105.00 to $118.00 and gave the company a “market perform” rating in a research report on Thursday, January 4th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $122.91.

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The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.48 and a current ratio of 1.03. The firm has a market cap of $4,032.13, a price-to-earnings ratio of 22.67, a P/E/G ratio of 2.13 and a beta of 0.59.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Wednesday, March 7th. The company reported $0.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.14). Casey’s General Stores had a net margin of 4.03% and a return on equity of 12.70%. The company had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same quarter last year, the business posted $0.58 EPS. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. research analysts expect that Casey’s General Stores will post 4.02 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Tuesday, May 1st will be issued a $0.26 dividend. The ex-dividend date of this dividend is Monday, April 30th. This represents a $1.04 annualized dividend and a yield of 1.02%. Casey’s General Stores’s dividend payout ratio (DPR) is presently 23.21%.

Casey’s General Stores announced that its board has authorized a stock buyback plan on Wednesday, March 7th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

In other Casey’s General Stores news, VP William J. Walljasper sold 1,000 shares of the business’s stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $108.85, for a total value of $108,850.00. Following the completion of the transaction, the vice president now owns 21,452 shares in the company, valued at $2,335,050.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David K. Lenhardt purchased 2,300 shares of the company’s stock in a transaction on Tuesday, March 13th. The stock was acquired at an average price of $111.24 per share, with a total value of $255,852.00. Following the purchase, the director now owns 2,300 shares of the company’s stock, valued at $255,852. The disclosure for this purchase can be found here. 1.30% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of CASY. Carillon Tower Advisers Inc. acquired a new position in shares of Casey’s General Stores in the fourth quarter worth $48,505,000. Bain Capital Public Equity Management LLC acquired a new position in shares of Casey’s General Stores in the fourth quarter worth $21,801,000. Fondren Management LP grew its stake in shares of Casey’s General Stores by 208.8% in the fourth quarter. Fondren Management LP now owns 210,000 shares of the company’s stock worth $23,507,000 after acquiring an additional 142,000 shares in the last quarter. Baird Financial Group Inc. grew its stake in shares of Casey’s General Stores by 47.4% in the fourth quarter. Baird Financial Group Inc. now owns 353,624 shares of the company’s stock worth $39,585,000 after acquiring an additional 113,649 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Casey’s General Stores by 34.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 393,898 shares of the company’s stock worth $44,093,000 after acquiring an additional 100,788 shares in the last quarter. Institutional investors and hedge funds own 98.03% of the company’s stock.

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About Casey’s General Stores

Casey’s General Stores, Inc and its subsidiaries, operate convenience stores under the name Casey’s General Store in approximately 10 Midwestern states, in Iowa, Missouri, and Illinois. The Company also operates approximately two stores selling primarily tobacco products. The stores carry a range of food, including freshly prepared foods such as pizza, donuts, and sandwiches, beverages, tobacco products, health and beauty aids, automotive products and other nonfood items.

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