Casey's General Stores: Fuel Sales Are Now The Sideshow
Tristan R. Brown
Tristan R. Brown
Casey's Growth And Risks
Mon, Jul. 25, 7:59 AM| Mon, Jul. 25, 7:59 AM
Wed, Jun. 29, 12:46 PM
- Casey's General Stores (NASDAQ:CASY) is up 3.1% after a move up to Goldman Sachs' Conviction Buy list.
- The firm upgraded shares to Buy from Neutral and hiked its price target to $145, from $123 -- implying 13% upside from today's pricing.
- Rising biofuel prices will lift the stock in a "fragmented c-store industry with low borrowing costs and limited financial leverage," Stephen Grambling writes.
- While biofuel will give a tailwind to the convenience store chain's fuel margin, lower food costs combined with higher prices should boost prepared gross margin, he says.
- Even so, Casey's is trading at a 8.5 times fiscal 2017 enterprise value/EBITDA -- a discount to peers in convenience stores (nine times) and defensive retail (11 times), he says.
Tue, Jun. 7, 10:27 AM
- Casey's General Stores (CASY -4.6%) is lower after FQ4 profit missed expectations.
- The top line was strong during the quarter as same-store sales growth was +4.6%, driven higher by a +7.4% grocery comp.
- As expected, fuel margin fell 90 bps Y/Y and 30 bps Q/Q to $0.178.
- Jefferies maintained a Hold rating on Casey's following the earnings release."CASY reported in-linish 4Q16 EPS; however, earnings quality was questionable as EBIT missed our ests. by $3M (cons. by $4M) and a lower tax rate provided a nickel to EPS vs. our ests," wrote analyst Christopher Mandeville.
- Previously: Caseys General Stores misses by $0.03, beats on revenue (June 6)
Mon, Jun. 6, 4:12 PM
Sun, Jun. 5, 5:35 PM
Tue, May 24, 2:34 PM
- Retail stocks continue to do a reset ever since Wal-Mart reported strong earnings at odds with some of its peers.
- A category that performed well for Wal-Mart in Q1 was grocery in what some investors are seeing as more of a read on consumer spending habits than a market share grab from the retail giant.
- Grocery store stocks and a few convenience store names are notably out in front of broad market averages today. The list of gainers includes Village Super Market (VLGEA +6.1%), Weis Markets (WMK +2.5%), Ingles Markets (IMKTA +3.3%), Supervalu (SVU +4.3%), Kroger (KR +1.8%), Casey's General Stores (CASY +2.9%), and CST Brands (CST +2.1%),
Thu, May 19, 9:56 AM
- Grocery store stocks are higher after Wal-Mart reports solid Q1 earnings.
- The read from Bentonville is that U.S. consumers are spending on food even if they give apparel a pass.
- Gainers include Kroger (KR +1.5%), Sprouts Farmers Market (SFM +1.3%), Casey's General Stores (CASY +1.8%), Supervalu (SVU +1.1%), and Whole Foods Market (WFM +1.3%).
Wed, Mar. 30, 7:21 AM
- Deutsche Bank upgrades Casey's General Stores (NASDAQ:CASY) to Buy after having the retailer lined up with a Neutral rating.
- The investment firm bumps up its price target on Casey's to $130 from $120 on a more favorable view of consumer spending trends and gasoline margins.
- Shares of Casey's have underperformed broad market averages and retail sector ETFs so far this year with an 8.4% downward swing.
Wed, Mar. 9, 9:29 AM
Wed, Mar. 9, 7:30 AM
Tue, Mar. 8, 7:23 AM
Mon, Mar. 7, 4:09 PM
Sun, Mar. 6, 5:35 PM
Fri, Feb. 12, 10:54 AM
- Consumer spending in the U.S. showed some strength in January to defy some of the signals being sent by equity markets.
- "The markets may have decided that the U.S. is headed for recession, but obviously no one told U.S. consumers," said econimist Paul Ashworth.
- Though data shows consumers have pulled back on some big-ticket categories to save more, there's some pockets of retail that could surprise this year - especially if gas prices move closer to $1/gallon.
- Companies that consumers interface with daily or weekly are more likely to benefit than those in the luxury discretionary space where falling 401K or profit-sharing plan values weigh a bit heavy on demand (home improvement, jewelry, high-end auto, etc), note analysts.
- Potentially sitting in that sweet space: Ross Stores (NASDAQ:ROST), TJX Companies (NYSE:TJX), Ulta Salon (NASDAQ:ULTA), Columbia Sportswear (NASDAQ:COLM), Skechers (NYSE:SKX), Nike (NYSE:NKE), Foot Locker (NYSE:FL), Dollar General (NYSE:DG), Target (NYSE:TGT), Party City (NYSE:PRTY), Churchill Downs (NASDAQ:CHDN), Isle of Capri (NASDAQ:ISLE), Penn National Gaming (NASDAQ:PENN), Boyd Gaming (NYSE:BYD), Casey's General Stores (NASDAQ:CASY), McDonald's (NYSE:MCD), Cracker Barrel (NASDAQ:CBRL)... add your own in the comments.
Tue, Feb. 2, 9:58 AM| Tue, Feb. 2, 9:58 AM
- January monthly performance was: -6.63%
- 52-week performance vs. the S&P 500 is: +1%
- No dividends were paid in January
- Top 10 Holdings as of 12/31/2015: Manhattan Associates Inc (MANH): 0.44%, Health Net Inc (HNT): 0.41%, j2 Global Inc (JCOM): 0.35%, MarketAxess Holdings Inc (MKTX): 0.34%, Casey's General Stores Inc (CASY): 0.33%, StanCorp Financial Group Inc (SFG): 0.32%, Bank of the Ozarks Inc (OZRK): 0.32%, Piedmont Natural Gas Co (PNY): 0.31%, Vail Resorts Inc (MTN): 0.31%, Charles River Laboratories International Inc (CRL): 0.3%
Mon, Feb. 1, 10:46 AM
- Strong volume numbers out of Sysco this morning aren't going unnoticed by grocery store investors.
- With a large percentage of the market showing losses, Whole Foods (WFM +1.9%), The Fresh Market (TFM +0.1%), and Kroger (KR +1.8%) are all higher. Related food seller Casey's General Stores (CASY +0.9%) is also in positive territory.
- Previously: 52-week high for Sysco after earnings shine (Feb. 1)
Casey's General Stores, Inc. engages in operating convenience stores and gasoline stations. It provides food, beverages, dairy and bakery products, such as beer, fountain drinks, donuts, cookies, brownies, Danish rolls, ham and cheese sandwiches, pork and chicken fritters, sausage sandwiches,... More
Industry: Grocery Stores
Country: United States
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