Casey’s General Stores (NASDAQ:CASY) Shares Gap Down – Should You Sell?

by · The Cerbat Gem

Casey’s General Stores, Inc. (NASDAQ:CASY – Get Free Report)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $563.24, but opened at $538.55. Casey’s General Stores shares last traded at $558.8540, with a volume of 179,361 shares trading hands.

Analysts Set New Price Targets

Several research firms have recently issued reports on CASY. Weiss Ratings reiterated a “buy (b)” rating on shares of Casey’s General Stores in a research note on Monday. BMO Capital Markets upped their target price on Casey’s General Stores from $515.00 to $540.00 and gave the company a “market perform” rating in a report on Wednesday, September 10th. The Goldman Sachs Group reissued a “neutral” rating and issued a $530.00 price objective on shares of Casey’s General Stores in a research report on Wednesday. KeyCorp reaffirmed an “overweight” rating on shares of Casey’s General Stores in a research report on Thursday. Finally, Zacks Research cut Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 21st. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $585.67.

Check Out Our Latest Stock Analysis on CASY

Casey’s General Stores Stock Performance

The company has a quick ratio of 0.61, a current ratio of 1.05 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $19.95 billion, a PE ratio of 33.09 and a beta of 0.65. The company has a 50-day moving average price of $548.28 and a two-hundred day moving average price of $524.18.

Casey’s General Stores (NASDAQ:CASY – Get Free Report) last issued its earnings results on Tuesday, December 9th. The company reported $5.53 EPS for the quarter, topping the consensus estimate of $4.92 by $0.61. Casey’s General Stores had a return on equity of 16.89% and a net margin of 3.58%.The business had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.51 billion. During the same quarter last year, the company earned $4.85 EPS. The firm’s revenue was up 14.2% compared to the same quarter last year. Analysts predict that Casey’s General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Sunday, February 1st will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, January 30th. This represents a $2.28 annualized dividend and a yield of 0.4%. Casey’s General Stores’s payout ratio is currently 14.63%.

Insiders Place Their Bets

In other Casey’s General Stores news, insider Chad Michael Frazell sold 3,487 shares of the stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $555.40, for a total value of $1,936,679.80. Following the sale, the insider directly owned 7,993 shares in the company, valued at $4,439,312.20. This represents a 30.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CASY. Nuveen LLC purchased a new position in Casey’s General Stores during the first quarter worth about $76,467,000. Meridian Wealth Management LLC boosted its position in shares of Casey’s General Stores by 71.6% during the 1st quarter. Meridian Wealth Management LLC now owns 1,215 shares of the company’s stock valued at $527,000 after acquiring an additional 507 shares during the last quarter. Ground Swell Capital LLC bought a new stake in shares of Casey’s General Stores during the 1st quarter valued at about $338,000. Sei Investments Co. grew its holdings in shares of Casey’s General Stores by 3.0% during the first quarter. Sei Investments Co. now owns 53,347 shares of the company’s stock worth $21,930,000 after purchasing an additional 1,538 shares in the last quarter. Finally, Azimuth Capital Investment Management LLC grew its holdings in shares of Casey’s General Stores by 1.0% during the first quarter. Azimuth Capital Investment Management LLC now owns 35,350 shares of the company’s stock worth $15,343,000 after purchasing an additional 365 shares in the last quarter. Institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Company Profile

(Get Free Report)

Casey’s General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.

See Also