Casey's General Stores (NASDAQ:CASY) Shares Up 3.6% - Here's Why

Key Points

• Casey’s shares rose 3.6% to about $606 after analysts raised several future EPS estimates, including fiscal 2027–2029 forecasts. However, Zacks maintained a “Hold” rating, and some quarterly estimates were trimmed.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $840.69, despite several firms recently reducing their targets.
• The company recently exceeded quarterly expectations, reporting $7.37 in EPS and $5.68 billion in revenue, while same-quarter revenue increased 24.3% year over year. Casey’s also declared a $0.65 quarterly dividend, although recent insider selling totaled about $24.4 million.

Casey's General Stores, Inc. (NASDAQ:CASY - Get Free Report)'s stock price rose 3.6% during trading on Wednesday . The stock traded as high as $603.43 and last traded at $606.0240. Approximately 326,929 shares traded hands during mid-day trading, a decline of 37% from the average daily volume of 518,690 shares. The stock had previously closed at $584.83.

Casey's General Stores News Roundup

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

• Positive Sentiment: Zacks Research raised its FY2027 EPS estimate to $21.37 from $21.12, FY2028 EPS to $23.73 from $23.11, and FY2029 EPS to $26.28 from $25.37. The revisions suggest improving expectations for Casey’s earnings growth over the next several years.
• Positive Sentiment: Nearer-term estimates were also increased for Q3 2027, Q1 2028, Q3 2028, and Q1 2029. The largest changes were Q1 2028 EPS to $7.37 from $6.93 and Q1 2029 EPS to $8.11 from $7.55.
• Neutral Sentiment: The revisions are mixed rather than uniformly bullish: Zacks lowered estimates for Q4 2027 EPS to $4.25 from $4.28, Q2 2028 EPS to $6.72 from $6.83, and Q4 2028 EPS to $4.81 from $4.82. These changes are small and do not materially alter the broader earnings outlook.
• Neutral Sentiment: Zacks maintained a “Hold” rating, while the current full-year consensus remains $21.40 per share. Investors may therefore view the estimate increases as supportive, but not as a strong enough catalyst for an outright bullish rating.
• Neutral Sentiment: Recent grocery-stock roundup articles provided no specific new operational, financial, or strategic announcement from Casey’s General Stores, limiting their relevance to the current stock move. Best Grocery Stocks Worth Watching - September 21st

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Wells Fargo & Company decreased their price objective on shares of Casey's General Stores from $960.00 to $750.00 and set an "overweight" rating for the company in a report on Wednesday, September 9th. Evercore reaffirmed an "outperform" rating and set a $775.00 price target on shares of Casey's General Stores in a research report on Friday, September 11th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $933.00 target price on shares of Casey's General Stores in a report on Thursday, September 10th. KeyCorp reduced their price target on shares of Casey's General Stores from $970.00 to $780.00 and set an "overweight" rating on the stock in a research report on Thursday, September 10th. Finally, BNP Paribas Exane lowered their price objective on shares of 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. Fifteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $840.69.

Casey's General Stores Price Performance

The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.61 and a current ratio of 1.02. The firm has a market capitalization of $22.00 billion, a P/E ratio of 28.74, a price-to-earnings-growth ratio of 1.91 and a beta of 0.59. The business has a fifty day moving average of $782.70 and a 200-day moving average of $781.67.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings results on Tuesday, September 8th. The company reported $7.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.78 by $0.59. Casey's General Stores had a return on equity of 19.68% and a net margin of 4.14%.The company had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.56 billion. During the same quarter in the previous year, the firm posted $5.77 EPS. The firm's quarterly revenue was up 24.3% on a year-over-year basis. On average, sell-side analysts forecast that Casey's General Stores, Inc. will post 21.4 EPS for the current fiscal year.

Casey's General Stores Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Sunday, November 1st will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $2.60 annualized dividend and a yield of 0.4%. Casey's General Stores's dividend payout ratio (DPR) is presently 12.52%.

Insider Activity at Casey's General Stores

In other Casey's General Stores news, CFO P Jr sold 5,700 shares of the business's stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $838.16, for a total transaction of $4,777,512.00. Following the sale, the chief financial officer directly owned 29,677 shares in the company, valued at approximately $24,874,074.32. The trade was a 16.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Katrina Lindsey sold 2,000 shares of the company's stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $800.00, for a total transaction of $1,600,000.00. Following the completion of the sale, the insider directly owned 6,668 shares of the company's stock, valued at approximately $5,334,400. This represents a 23.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 30,243 shares of company stock worth $24,421,877 in the last three months. Insiders own 0.67% of the company's stock.

Hedge Funds Weigh In On Casey's General Stores

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Daiichi Life Insurance Co. Ltd. bought a new stake in shares of Casey's General Stores during the second quarter worth $1,222,000. Geode Capital Management LLC boosted its holdings in Casey's General Stores by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 760,438 shares of the company's stock worth $420,416,000 after purchasing an additional 52,250 shares during the last quarter. Burns J W & Co. Inc. NY grew its position in Casey's General Stores by 103.5% in the first quarter. Burns J W & Co. Inc. NY now owns 2,448 shares of the company's stock valued at $1,782,000 after purchasing an additional 1,245 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in Casey's General Stores by 52.0% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 17,079 shares of the company's stock valued at $12,431,000 after buying an additional 5,846 shares during the last quarter. Finally, Jackson Creek Investment Advisors LLC acquired a new position in shares of Casey's General Stores during the 4th quarter worth about $1,338,000. 85.63% of the stock is 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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