Casey’s General Stores Inc (NASDAQ:CASY) – Equities research analysts at Northcoast Research lowered their Q3 2020 earnings estimates for Casey’s General Stores in a research report issued to clients and investors on Wednesday, December 18th. Northcoast Research analyst C. Cerankosky now expects that the company will earn $1.00 per share for the quarter, down from their prior forecast of $1.10. Northcoast Research also issued estimates for Casey’s General Stores’ Q4 2020 earnings at $0.89 EPS and FY2021 earnings at $6.90 EPS.
Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Monday, December 9th. The company reported $2.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.15 by $0.06. The firm had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.53 billion. Casey’s General Stores had a return on equity of 16.06% and a net margin of 2.51%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the business posted $1.80 EPS.
A number of other research firms also recently weighed in on CASY. Barclays upped their price target on Casey’s General Stores from $140.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 11th. Sidoti boosted their price objective on shares of Casey’s General Stores from $166.00 to $174.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Deutsche Bank increased their target price on shares of Casey’s General Stores from $166.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. BidaskClub downgraded shares of Casey’s General Stores from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, cut shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $172.30.
A number of institutional investors and hedge funds have recently made changes to their positions in CASY. UBS Asset Management Americas Inc. grew its position in shares of Casey’s General Stores by 7.7% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 62,023 shares of the company’s stock valued at $9,675,000 after buying an additional 4,438 shares during the last quarter. Benjamin Edwards Inc. boosted its holdings in Casey’s General Stores by 9.3% in the third quarter. Benjamin Edwards Inc. now owns 976 shares of the company’s stock valued at $157,000 after acquiring an additional 83 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in Casey’s General Stores during the 3rd quarter valued at approximately $5,608,000. Carillon Tower Advisers Inc. increased its position in Casey’s General Stores by 29.1% during the 2nd quarter. Carillon Tower Advisers Inc. now owns 830,521 shares of the company’s stock valued at $129,553,000 after purchasing an additional 187,330 shares during the period. Finally, KBC Group NV increased its position in Casey’s General Stores by 5.9% during the 2nd quarter. KBC Group NV now owns 28,053 shares of the company’s stock valued at $4,376,000 after purchasing an additional 1,569 shares during the period. Institutional investors and hedge funds own 86.19% of the company’s stock.
In related news, Director Allison M. Wing sold 554 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $165.91, for a total transaction of $91,914.14. Following the sale, the director now owns 998 shares in the company, valued at approximately $165,578.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.41% of the stock is currently owned by insiders.
The company also recently announced a quarterly dividend, which will be paid on Monday, February 17th. Stockholders of record on Monday, February 3rd will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend is Friday, January 31st. Casey’s General Stores’s payout ratio is presently 23.23%.
About Casey’s General Stores
Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. The company's stores offer a selection of food, including freshly prepared foods, such as pizza, donuts, and sandwiches; beverage and tobacco products; health and beauty aids; automotive products; school supplies, housewares, and pet supplies; and other nonfood items.
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