Casey’s General Stores Sees Unusually Large Options Volume (CASY)

Casey’s General Stores Inc (NASDAQ:CASY) saw some unusual options trading activity on Monday. Stock traders acquired 1,800 put options on the company. This is an increase of 1,718% compared to the typical daily volume of 99 put options.

CASY has been the topic of a number of recent analyst reports. Royal Bank of Canada set a $131.00 price target on shares of Casey’s General Stores and gave the company a “hold” rating in a research report on Thursday, December 6th. BidaskClub lowered shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 28th. Sidoti set a $138.00 price target on shares of Casey’s General Stores and gave the company a “hold” rating in a research report on Friday, February 15th. Finally, Gabelli reissued a “buy” rating on shares of Casey’s General Stores in a research report on Wednesday, December 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $133.20.

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CASY opened at $131.86 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.26 and a current ratio of 0.81. Casey’s General Stores has a fifty-two week low of $90.42 and a fifty-two week high of $138.45. The stock has a market cap of $4.73 billion, a P/E ratio of 34.61, a PEG ratio of 2.79 and a beta of 0.43.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Monday, March 11th. The company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.18. Casey’s General Stores had a net margin of 3.77% and a return on equity of 13.24%. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.20 billion. Equities research analysts predict that Casey’s General Stores will post 5.04 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a dividend of $0.29 per share. The ex-dividend date is Tuesday, April 30th. This represents a $1.16 dividend on an annualized basis and a yield of 0.88%. Casey’s General Stores’s dividend payout ratio (DPR) is presently 30.45%.

In related news, VP William J. Walljasper sold 4,300 shares of the firm’s stock in a transaction dated Monday, January 7th. The shares were sold at an average price of $128.44, for a total transaction of $552,292.00. Following the transaction, the vice president now directly owns 26,165 shares of the company’s stock, valued at $3,360,632.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.72% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of CASY. Enlightenment Research LLC purchased a new stake in Casey’s General Stores during the fourth quarter worth about $26,000. Mckinley Capital Management LLC Delaware purchased a new stake in Casey’s General Stores during the fourth quarter worth about $29,000. Benjamin F. Edwards & Company Inc. purchased a new stake in Casey’s General Stores during the fourth quarter worth about $150,000. Magnus Financial Group LLC purchased a new stake in Casey’s General Stores during the fourth quarter worth about $201,000. Finally, Ibex Investors LLC purchased a new stake in Casey’s General Stores during the third quarter worth about $206,000. Institutional investors and hedge funds own 88.91% of the company’s stock.

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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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