Short Interest in Casey’s General Stores Inc (NASDAQ:CASY) Expands By 12.4%

Casey’s General Stores Inc (NASDAQ:CASY) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 1,461,500 shares, an increase of 12.4% from the May 15th total of 1,300,300 shares. Based on an average daily trading volume, of 311,500 shares, the short-interest ratio is currently 4.7 days. Currently, 4.0% of the company’s shares are sold short.

NASDAQ:CASY traded up $1.01 during mid-day trading on Friday, reaching $164.80. 337,942 shares of the company’s stock traded hands, compared to its average volume of 318,267. Casey’s General Stores has a 12-month low of $106.75 and a 12-month high of $165.38. The firm has a market cap of $6.02 billion, a price-to-earnings ratio of 29.91, a price-to-earnings-growth ratio of 2.98 and a beta of 0.60. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.69 and a quick ratio of 0.23. The firm’s 50 day moving average is $150.65.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Monday, June 10th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.27. Casey’s General Stores had a return on equity of 14.95% and a net margin of 2.18%. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the business earned $0.51 EPS. Casey’s General Stores’s revenue was up 4.3% compared to the same quarter last year. On average, research analysts expect that Casey’s General Stores will post 5.86 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Wednesday, July 31st. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.29. Casey’s General Stores’s payout ratio is currently 21.05%.

In other news, Director H Lynn Horak sold 3,000 shares of the stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $154.55, for a total value of $463,650.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Brian Joseph Johnson sold 4,000 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $156.48, for a total value of $625,920.00. Following the completion of the sale, the senior vice president now directly owns 14,817 shares of the company’s stock, valued at approximately $2,318,564.16. The disclosure for this sale can be found here. In the last three months, insiders sold 35,106 shares of company stock valued at $5,292,595. Insiders own 0.72% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Mckinley Capital Management LLC Delaware purchased a new position in Casey’s General Stores during the 4th quarter valued at about $29,000. FinTrust Capital Advisors LLC bought a new stake in Casey’s General Stores during the 1st quarter valued at approximately $29,000. Valeo Financial Advisors LLC boosted its position in Casey’s General Stores by 2,500.0% during the 1st quarter. Valeo Financial Advisors LLC now owns 312 shares of the company’s stock valued at $40,000 after acquiring an additional 300 shares in the last quarter. Quadrant Capital Group LLC boosted its position in Casey’s General Stores by 170.3% during the 1st quarter. Quadrant Capital Group LLC now owns 346 shares of the company’s stock valued at $42,000 after acquiring an additional 218 shares in the last quarter. Finally, Carroll Financial Associates Inc. bought a new stake in Casey’s General Stores during the 1st quarter valued at approximately $48,000. Institutional investors own 90.06% of the company’s stock.

Several research analysts have issued reports on CASY shares. Barclays lowered Axel Springer from an “overweight” rating to an “equal weight” rating in a report on Wednesday, June 12th. Zacks Investment Research downgraded Hess Midstream Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, May 14th. Wells Fargo & Co set a $32.00 price target on Farfetch and gave the stock a “buy” rating in a report on Wednesday, June 12th. Jefferies Financial Group lowered Alcoa from a “buy” rating to a “hold” rating and dropped their price objective for the company from $29.00 to $23.00 in a research note on Thursday. Finally, BMO Capital Markets decreased their price objective on Dave & Buster’s Entertainment to $55.00 and set an “outperform” rating on the stock in a report on Wednesday, June 12th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $151.90.

About Casey’s General Stores

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

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