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

Casey’s General Stores, Inc. (NASDAQ:CASY) was the recipient of a large growth in short interest in 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. Approximately 3.5% of the company’s stock are sold short. Based on an average trading volume of 262,900 shares, the short-interest ratio is presently 4.9 days.

Casey’s General Stores Stock Performance

CASY opened at $404.82 on Thursday. The company’s 50 day moving average is $410.62 and its 200 day moving average is $399.02. The company has a current ratio of 0.88, a quick ratio of 0.49 and a debt-to-equity ratio of 0.74. The company has a market cap of $15.03 billion, a price-to-earnings ratio of 28.21, a PEG ratio of 2.40 and a beta of 0.87. Casey’s General Stores has a 12-month low of $290.00 and a 12-month high of $445.17.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Monday, December 9th. The company reported $4.85 earnings per share (EPS) for the quarter, beating 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 firm 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 company’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, equities research analysts predict that Casey’s General Stores will post 13.94 EPS for the current year.

Insider Transactions at Casey’s General Stores

In other news, insider Katrina S. Lindsey sold 450 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $427.13, for a total value of $192,208.50. Following the sale, the insider now directly owns 2,247 shares of the company’s stock, valued at $959,761.11. The trade was a 16.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mike Spanos acquired 500 shares of Casey’s General Stores stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average cost of $396.76 per share, with a total value of $198,380.00. Following the transaction, the director now owns 3,097 shares in the company, valued at $1,228,765.72. This represents a 19.25 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Soros Capital Management LLC lifted its holdings in Casey’s General Stores by 1,825.6% during the third quarter. Soros Capital Management LLC now owns 27,632 shares of the company’s stock valued at $10,382,000 after purchasing an additional 26,197 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in shares of Casey’s General Stores by 55.6% during the 4th quarter. Sanctuary Advisors LLC now owns 8,579 shares of the company’s stock valued at $3,629,000 after buying an additional 3,065 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Casey’s General Stores by 9.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 14,725 shares of the company’s stock worth $5,532,000 after buying an additional 1,332 shares during the period. JLB & Associates Inc. increased its stake in Casey’s General Stores by 1.8% in the 4th quarter. JLB & Associates Inc. now owns 43,029 shares of the company’s stock worth $17,049,000 after buying an additional 749 shares in the last quarter. Finally, South Dakota Investment Council increased its stake in Casey’s General Stores by 28.0% in the 4th quarter. South Dakota Investment Council now owns 10,065 shares of the company’s stock worth $3,988,000 after buying an additional 2,200 shares in the last quarter. 85.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CASY. BMO Capital Markets reaffirmed a “market perform” rating and issued a $450.00 price target (up previously from $400.00) on shares of Casey’s General Stores in a research report on Wednesday, December 18th. Evercore ISI upped their target price on shares of Casey’s General Stores from $460.00 to $470.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Gordon Haskett raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft upped their price objective on Casey’s General Stores from $451.00 to $454.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada boosted their price target on Casey’s General Stores from $403.00 to $428.00 and gave the stock a “sector perform” rating in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $424.00.

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.