Casey’s General Stores, Inc. (NASDAQ:CASY) Sees Significant Growth in Short Interest

Casey’s General Stores, Inc. (NASDAQ:CASY) was the target of a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 1,290,000 shares, a growth of 21.7% from the January 31st total of 1,060,000 shares. Based on an average daily trading volume, of 262,900 shares, the short-interest ratio is presently 4.9 days. Approximately 3.5% of the company’s stock are short sold.

Casey’s General Stores Price Performance

Shares of CASY opened at $395.30 on Friday. The company has a market capitalization of $14.67 billion, a P/E ratio of 27.55, a price-to-earnings-growth ratio of 2.40 and a beta of 0.87. 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 firm has a 50 day moving average of $410.64 and a 200 day moving average of $399.06. Casey’s General Stores has a twelve month low of $290.00 and a twelve month high of $445.17.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Monday, December 9th. The company reported $4.85 EPS for the quarter, topping analysts’ consensus estimates of $4.29 by $0.56. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The business had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter in the previous year, the firm posted $4.24 EPS. The firm’s revenue was down 2.9% on a year-over-year basis. As a group, equities research analysts anticipate that Casey’s General Stores will post 13.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Evercore ISI raised their price objective on shares of Casey’s General Stores from $460.00 to $470.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Royal Bank of Canada lifted their target price on shares of Casey’s General Stores from $403.00 to $428.00 and gave the company a “sector perform” rating in a report on Tuesday, December 10th. BMO Capital Markets reiterated a “market perform” rating and set a $450.00 target price (up from $400.00) on shares of Casey’s General Stores in a report on Wednesday, December 18th. StockNews.com lowered shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Finally, Gordon Haskett upgraded shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $424.00.

Insiders Place Their Bets

In related news, Director Mike Spanos acquired 500 shares of the stock in a transaction on Monday, December 23rd. The stock was acquired at an average cost of $396.76 per share, for a total transaction of $198,380.00. Following the completion of the acquisition, the director now directly owns 3,097 shares of the company’s stock, valued at approximately $1,228,765.72. This represents a 19.25 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Katrina S. Lindsey sold 450 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $427.13, for a total transaction of $192,208.50. Following the completion of the sale, the insider now owns 2,247 shares of the company’s stock, valued at $959,761.11. This trade represents a 16.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Casey’s General Stores

Large investors have recently added to or reduced their stakes in the stock. YANKCOM Partnership bought a new stake in Casey’s General Stores in the 4th quarter worth approximately $34,000. Endeavor Private Wealth Inc. bought a new stake in Casey’s General Stores in the 4th quarter worth approximately $36,000. Venturi Wealth Management LLC grew its position in Casey’s General Stores by 941.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 125 shares of the company’s stock worth $47,000 after purchasing an additional 113 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in Casey’s General Stores by 24.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 149 shares of the company’s stock worth $59,000 after purchasing an additional 29 shares during the period. Finally, Kennebec Savings Bank bought a new stake in Casey’s General Stores in the 3rd quarter worth approximately $76,000. Institutional investors 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.