JPMorgan Chase & Co. Cuts Casey’s General Stores (NASDAQ:CASY) Price Target to $833.00

Casey’s General Stores (NASDAQ:CASY) had its price objective trimmed by JPMorgan Chase & Co. from $975.00 to $833.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research analysts have also recently weighed in on CASY. Evercore reissued an “outperform” rating and issued a $990.00 price objective on shares of Casey’s General Stores in a research report on Friday, June 12th. Royal Bank Of Canada restated a “sector perform” rating and issued a $913.00 price objective on shares of Casey’s General Stores in a research note on Wednesday, July 29th. Wall Street Zen raised Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Wells Fargo & Company lifted their target price on Casey’s General Stores from $910.00 to $960.00 and gave the stock an “overweight” rating in a research note on Thursday, June 11th. Finally, KeyCorp boosted their price target on shares of Casey’s General Stores from $950.00 to $970.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $928.53.

Casey’s General Stores Trading Down 0.3%

NASDAQ:CASY opened at $756.09 on Thursday. Casey’s General Stores has a 52 week low of $497.38 and a 52 week high of $927.85. The firm has a 50-day moving average price of $827.10 and a two-hundred day moving average price of $784.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 1.01. The firm has a market cap of $27.98 billion, a price-to-earnings ratio of 39.46, a price-to-earnings-growth ratio of 2.59 and a beta of 0.59.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $3.31 by $1.06. The firm had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.33 billion. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The company’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.63 EPS. On average, equities analysts expect that Casey’s General Stores will post 21.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Casey’s General Stores news, Director Allison M. Wing sold 530 shares of the stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $837.58, for a total transaction of $443,917.40. Following the completion of the transaction, the director directly owned 3,042 shares of the company’s stock, valued at approximately $2,547,918.36. This represents a 14.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Katrina S. Lindsey sold 2,000 shares of the firm’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $800.00, for a total value of $1,600,000.00. Following the completion of the sale, the insider directly owned 6,668 shares of the company’s stock, valued at $5,334,400. This represents a 23.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 30,243 shares of company stock worth $24,421,877 in the last three months. Insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CASY. California State Teachers Retirement System increased its holdings in Casey’s General Stores by 106,650.8% in the 2nd quarter. California State Teachers Retirement System now owns 46,043,774 shares of the company’s stock worth $36,595,131,000 after acquiring an additional 46,000,642 shares during the last quarter. BlackRock Inc. purchased a new stake in Casey’s General Stores during the second quarter valued at about $2,759,895,000. Northwestern Mutual Wealth Management Co. boosted its position in Casey’s General Stores by 179,938.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,659,164 shares of the company’s stock worth $1,469,747,000 after purchasing an additional 2,657,687 shares during the period. Franklin Resources Inc. boosted its position in Casey’s General Stores by 40.9% during the fourth quarter. Franklin Resources Inc. now owns 1,068,682 shares of the company’s stock worth $590,671,000 after purchasing an additional 310,470 shares during the period. Finally, Geode Capital Management LLC boosted its position in Casey’s General Stores by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 760,438 shares of the company’s stock worth $420,416,000 after purchasing an additional 52,250 shares during the period. Institutional investors own 85.63% of the company’s stock.

About Casey’s General Stores

Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.