Wells Fargo & Company Has Lowered Expectations for Casey's General Stores (NASDAQ:CASY) Stock Price

Key Points

• Wells Fargo cut Casey’s General Stores’ price target from $960 to $750 while maintaining an “overweight” rating, implying 19.23% upside from the prior close. The broader analyst consensus remains “Moderate Buy,” with an average target of $914.33.
• Casey’s reported a quarterly earnings and revenue beat, posting $7.37 EPS versus the $6.78 estimate and $5.68 billion in revenue versus $5.56 billion expected. Revenue rose 24.3% year over year, supported by stronger fuel margins and inside gross profit.
• The stock fell sharply to $629.03 as investors focused on weaker-than-expected 3.2% inside same-store sales growth and concerns about slowing demand. Insiders also sold about $24.4 million of shares over the past three months.

Casey's General Stores (NASDAQ:CASY - Get Free Report) had its target price decreased by equities research analysts at Wells Fargo & Company from $960.00 to $750.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's price objective would suggest a potential upside of 19.23% from the stock's previous close.

A number of other equities research analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft set a $927.00 target price on shares of Casey's General Stores in a research report on Friday, September 4th. Wolfe Research reissued an "outperform" rating and set a $1,069.00 price target on shares of Casey's General Stores in a report on Thursday, June 11th. Stephens restated an "overweight" rating and issued a $975.00 price target on shares of Casey's General Stores in a research note on Wednesday. Morgan Stanley raised Casey's General Stores to a "buy" rating in a report on Wednesday, June 10th. Finally, BNP Paribas Exane reduced their price objective on Casey's General Stores from $1,032.00 to $995.00 and set an "outperform" rating for the company in a research report on Thursday, June 25th. Fourteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $914.33.

Casey's General Stores Stock Performance

CASY traded down $104.46 during midday trading on Wednesday, hitting $629.03. 2,579,227 shares of the company traded hands, compared to its average volume of 506,448. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $23.28 billion, a PE ratio of 32.83, a price-to-earnings-growth ratio of 2.58 and a beta of 0.59. The company's 50-day moving average is $825.39 and its 200 day moving average is $786.82. Casey's General Stores has a 52 week low of $497.38 and a 52 week high of $927.85.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings results on Tuesday, September 8th. The company reported $7.37 EPS for the quarter, topping analysts' consensus estimates of $6.78 by $0.59. Casey's General Stores had a net margin of 4.07% and a return on equity of 18.73%. The firm had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.56 billion. During the same period in the previous year, the business posted $5.77 earnings per share. The business's revenue for the quarter was up 24.3% on a year-over-year basis. On average, research analysts expect that Casey's General Stores will post 21.13 EPS for the current year.

Insider Transactions at Casey's General Stores

In related news, Director Allison Wing sold 530 shares of the firm's stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $837.58, for a total value of $443,917.40. Following the transaction, the director directly owned 3,042 shares of the company's stock, valued at approximately $2,547,918.36. This trade represents a 14.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO P Jr sold 5,700 shares of Casey's General Stores stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $838.16, for a total value of $4,777,512.00. Following the transaction, the chief financial officer owned 29,677 shares in the company, valued at $24,874,074.32. This trade represents a 16.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 30,243 shares of company stock worth $24,421,877 over the last three months. 0.67% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Kathmere Capital Management LLC increased its holdings in Casey's General Stores by 3.5% in the 1st quarter. Kathmere Capital Management LLC now owns 387 shares of the company's stock worth $282,000 after acquiring an additional 13 shares in the last quarter. Pinnacle Bancorp Inc. boosted its position in shares of Casey's General Stores by 4.8% in the first quarter. Pinnacle Bancorp Inc. now owns 303 shares of the company's stock worth $221,000 after purchasing an additional 14 shares during the period. Lincoln Capital LLC boosted its position in shares of Casey's General Stores by 4.0% in the second quarter. Lincoln Capital LLC now owns 366 shares of the company's stock worth $291,000 after purchasing an additional 14 shares during the period. Menard Financial Group LLC boosted its position in shares of Casey's General Stores by 1.2% in the fourth quarter. Menard Financial Group LLC now owns 1,267 shares of the company's stock worth $700,000 after purchasing an additional 15 shares during the period. Finally, Cibc World Market Inc. increased its stake in shares of Casey's General Stores by 0.3% in the fourth quarter. Cibc World Market Inc. now owns 5,136 shares of the company's stock worth $2,839,000 after purchasing an additional 16 shares in the last quarter. 85.63% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Casey's General Stores

Here are the key news stories impacting Casey's General Stores this week:

• Positive Sentiment: Casey’s reported fiscal Q1 2027 adjusted earnings of $7.37 per share, above the $6.78 consensus estimate, while revenue reached $5.68 billion versus expectations of approximately $5.56 billion. Revenue increased 24.3% year over year, and EBITDA rose 17.1% to $485.1 million. Casey’s Announces First Quarter Results
• Positive Sentiment: Stronger fuel margins and inside gross profit helped offset higher costs, supporting the earnings beat. Management maintained its full-year outlook, reducing the risk of an immediate guidance cut. CASY Q1 Earnings Beat Estimates on Inside and Fuel Gains
• Positive Sentiment: Analysts remained constructive after the selloff. UBS cited effective execution despite an uneven macroeconomic environment, while Stephens reaffirmed its Overweight rating with a $975 price target. UBS Commentary on Casey’s Fiscal Q1 Results
• Neutral Sentiment: Casey’s declared a quarterly dividend of $0.65 per share, payable November 13 to shareholders of record November 1. The dividend offers a modest yield of roughly 0.4%.
• Negative Sentiment: Inside same-store sales grew only 3.2%, below investor expectations and slower than the prior year. Because this metric reflects customer spending in Casey’s stores, the miss raised concerns about weakening demand and earnings-growth deceleration. Casey’s Same-Store Sales Growth Declines
• Negative Sentiment: The market reaction reflects high expectations: investors focused on the softer sales trend rather than the headline earnings and revenue beats. Analysts have described the quarter as good but difficult to match against elevated expectations, pressuring the stock toward its 2026 lows. Casey’s Q1: Good Quarter, Tough Expectations

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.

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