Casey's General Stores, Inc. (NASDAQ:CASY) Short Interest Update

Casey's General Stores, Inc. (NASDAQ:CASY - Get Free Report) was the recipient of a significant decrease in short interest in March. As of March 15th, there was short interest totalling 1,240,000 shares, a decrease of 13.9% from the February 28th total of 1,440,000 shares. Approximately 3.4% of the company's stock are sold short. Based on an average daily volume of 297,800 shares, the days-to-cover ratio is presently 4.2 days.

Casey's General Stores Stock Down 0.5 %

Shares of CASY stock traded down $2.20 on Monday, hitting $413.62. The stock had a trading volume of 302,834 shares, compared to its average volume of 279,882. The stock's 50 day moving average is $416.73 and its 200-day moving average is $405.25. The firm has a market capitalization of $15.35 billion, a price-to-earnings ratio of 28.81, a P/E/G ratio of 2.40 and a beta of 0.74. Casey's General Stores has a 52-week low of $306.45 and a 52-week high of $458.92. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.49 and a current ratio of 0.88.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its earnings results on Tuesday, March 11th. The company reported $2.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.76 by $0.57. Casey's General Stores had a return on equity of 17.17% and a net margin of 3.57%. The business had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.74 billion. During the same period in the previous year, the company earned $2.33 earnings per share. The company's revenue for the quarter was up 17.2% compared to the same quarter last year. As a group, research analysts expect that Casey's General Stores will post 13.94 earnings per share for the current year.

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Casey's General Stores Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $2.00 annualized dividend and a dividend yield of 0.48%. Casey's General Stores's payout ratio is 13.94%.

Analyst Ratings Changes

Several equities analysts have issued reports on CASY shares. Gordon Haskett raised shares of Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. Evercore ISI boosted their target price on Casey's General Stores from $450.00 to $460.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 1st. StockNews.com cut Casey's General Stores from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. Royal Bank of Canada set a $438.00 target price on Casey's General Stores and gave the company a "sector perform" rating in a report on Wednesday, March 12th. Finally, BMO Capital Markets reaffirmed a "market perform" rating and set a $450.00 price target (up from $400.00) on shares of Casey's General Stores in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $424.00.

Insider Activity at Casey's General Stores

In other news, Director Mike Spanos purchased 256 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average price of $390.54 per share, for a total transaction of $99,978.24. Following the purchase, the director now directly owns 3,356 shares of the company's stock, valued at $1,310,652.24. This represents a 8.26 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.56% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets raised its position in shares of Casey's General Stores by 40.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 17,346 shares of the company's stock worth $6,517,000 after purchasing an additional 5,021 shares during the period. CreativeOne Wealth LLC grew its stake in shares of Casey's General Stores by 76.7% in the 3rd quarter. CreativeOne Wealth LLC now owns 1,002 shares of the company's stock worth $376,000 after purchasing an additional 435 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Casey's General Stores by 4.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,273 shares of the company's stock valued at $3,108,000 after buying an additional 336 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Casey's General Stores by 1.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,839 shares of the company's stock valued at $39,389,000 after purchasing an additional 1,771 shares during the period. Finally, Holocene Advisors LP boosted its holdings in shares of Casey's General Stores by 266.4% in the third quarter. Holocene Advisors LP now owns 96,406 shares of the company's stock worth $36,221,000 after buying an additional 70,096 shares during the period. 85.63% of the stock is owned by institutional investors and hedge funds.

About Casey's General Stores

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.