Casey’s General Stores (NASDAQ:CASY) Posts Quarterly Earnings Results, Beats Estimates By $0.70 EPS

Casey’s General Stores (NASDAQ:CASY) released its quarterly earnings data on Monday. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.70, RTT News reports. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The business’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the business posted $2.34 EPS.

Casey’s General Stores Trading Down 1.1%

Shares of CASY traded down $4.75 during trading hours on Monday, hitting $439.29. The company had a trading volume of 667,600 shares, compared to its average volume of 301,542. Casey’s General Stores has a 52-week low of $322.78 and a 52-week high of $485.50. The company has a quick ratio of 0.49, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. The stock’s 50 day moving average price is $447.69 and its 200 day moving average price is $424.20. The firm has a market cap of $16.31 billion, a P/E ratio of 30.61, a P/E/G ratio of 2.40 and a beta of 0.65.

Casey’s General Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be paid a dividend of $0.57 per share. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.50. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.52%. Casey’s General Stores’s dividend payout ratio (DPR) is 13.94%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. 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. KeyCorp assumed coverage on Casey’s General Stores in a report on Friday, April 11th. They set an “overweight” rating and a $500.00 price objective for the company. Gordon Haskett upgraded shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Wall Street Zen lowered shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Finally, Royal Bank of Canada set a $438.00 price target on shares of Casey’s General Stores and gave the stock a “sector perform” rating in a report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Casey’s General Stores presently has a consensus rating of “Moderate Buy” and a consensus target price of $430.33.

Insider Buying and Selling

In other Casey’s General Stores news, insider Katrina S. Lindsey sold 250 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $437.01, for a total value of $109,252.50. Following the completion of the sale, the insider now owns 2,443 shares in the company, valued at approximately $1,067,615.43. This trade represents a 9.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mike Spanos acquired 256 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was acquired at an average price of $390.54 per share, for a total transaction of $99,978.24. Following the completion of the transaction, the director now owns 3,356 shares in the company, valued at approximately $1,310,652.24. The trade was a 8.26% increase in their position. The disclosure for this purchase can be found here. 0.56% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Casey’s General Stores stock. Geneos Wealth Management Inc. lifted its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 129.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 186 shares of the company’s stock after buying an additional 105 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Casey’s General Stores were worth $81,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 85.63% of the company’s stock.

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.