Casey's General Stores (NASDAQ:CASY) Releases Quarterly Earnings Results, Beats Expectations By $0.55 EPS

Key Points

• Q4 beat: Casey's reported EPS of $3.49, beating the consensus $2.94 by $0.55; revenue was up 0.3% year-over-year, with a net margin of 3.58% and ROE of 16.89%.
• Shares traded at $664.54 midday on the print with elevated volume (~980k vs. avg ~408k); the company has a $24.6B market cap, a P/E of ~40.9, and analysts' consensus is a "Moderate Buy" with a $647 average price target.
• Insider buying: Director Moats Maria Castanon purchased 300 shares at about $554.66 (a ~59.6% increase in her stake); insiders own 0.54% of the stock while institutions hold 85.63%.

Casey's General Stores (NASDAQ:CASY - Get Free Report) issued its quarterly earnings data on Monday. The company reported $3.49 EPS for the quarter, topping the consensus estimate of $2.94 by $0.55, Briefing.com reports. Casey's General Stores had a net margin of 3.58% and a return on equity of 16.89%. The firm's revenue for the quarter was up .3% on a year-over-year basis. During the same period last year, the firm earned $2.33 earnings per share.

Casey's General Stores Trading Down 0.0%

Shares of NASDAQ CASY traded down $0.06 during midday trading on Monday, hitting $664.54. The company's stock had a trading volume of 980,351 shares, compared to its average volume of 407,814. Casey's General Stores has a 12-month low of $372.08 and a 12-month high of $690.00. The company has a current ratio of 1.05, a quick ratio of 0.65 and a debt-to-equity ratio of 0.62. The firm has a market cap of $24.63 billion, a P/E ratio of 40.87, a price-to-earnings-growth ratio of 2.29 and a beta of 0.65. The business's 50 day moving average is $632.08 and its two-hundred day moving average is $574.72.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Bank of America assumed coverage on shares of Casey's General Stores in a research report on Friday, January 9th. They set a "buy" rating on the stock. Evercore set a $665.00 price objective on Casey's General Stores and gave the stock an "outperform" rating in a research note on Tuesday, February 24th. UBS Group reissued a "neutral" rating on shares of Casey's General Stores in a report on Thursday, December 11th. BMO Capital Markets reaffirmed a "market perform" rating and set a $700.00 price objective on shares of Casey's General Stores in a report on Wednesday. Finally, KeyCorp restated an "overweight" rating and set a $700.00 target price on shares of Casey's General Stores in a research report on Thursday, February 12th. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $647.00.

Insider Buying and Selling

In other news, Director Moats Maria Castanon bought 300 shares of the firm's stock in a transaction on Monday, January 5th. The stock was acquired at an average cost of $554.66 per share, with a total value of $166,398.00. Following the transaction, the director directly owned 803 shares in the company, valued at approximately $445,391.98. This trade represents a 59.64% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.54% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Casey's General Stores

A number of large investors have recently added to or reduced their stakes in the company. Osterweis Capital Management Inc. purchased a new stake in Casey's General Stores in the second quarter valued at $45,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Casey's General Stores in the third quarter worth about $62,000. Rossby Financial LCC grew its holdings in Casey's General Stores by 23.3% during the fourth quarter. Rossby Financial LCC now owns 111 shares of the company's stock worth $61,000 after acquiring an additional 21 shares during the period. Caitong International Asset Management Co. Ltd raised its position in Casey's General Stores by 44.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 120 shares of the company's stock valued at $68,000 after acquiring an additional 37 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in Casey's General Stores in the fourth quarter valued at approximately $89,000. 85.63% of the stock is currently owned by institutional investors.

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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