NEW YORK, May 27, 2026, 04:49 EDT
- Casey’s most recent quote came in at $809.41, off around 1.9%. That drop came as broader U.S. indexes climbed on Tuesday.
- Wells Fargo upped its target for the stock to $910, though the firm said there could be a slight EPS miss for the fourth quarter because of fuel margins.
- Casey’s is set to release fiscal Q4 and full-year numbers after the bell on June 9.
Casey’s General Stores shares edged down in recent trading, despite a price target bump from Wells Fargo. The move puts a fresh focus on the company’s fuel margins ahead of its earnings report in June.
The stock was at $809.41, dropping $15.90 from the previous close, and puts the company’s value around $30.1 billion. Nasdaq’s regular session hadn’t started yet in New York; hours are 9:30 a.m. to 4 p.m. ET, with pre-market starting at 4 a.m. ET.
Casey’s is heading into its next results with expectations still high for execution. The company said it plans to report fiscal Q4 and full-year 2026 numbers after the bell on June 9. A call is set for June 10.
Wells Fargo’s Edward Kelly lifted the firm’s price target to $910 from $745 while sticking with an “Overweight” on the stock, meaning he expects it to outperform the benchmark or peers. Analysts use price targets to signal where they think the stock might go, usually over the next year. MarketBeat
Wells Fargo flagged some caution on Casey’s. The bank said the company’s fourth quarter may see a small and unusual earnings per share miss due to weaker fuel margins. Wells Fargo also said the first look at fiscal 2027 guidance might come off as conservative.
Casey’s didn’t get much help from the broader market. Stocks climbed as Wall Street reopened after the holiday break. The S&P 500 added 0.6%. The Nasdaq Composite jumped 1.2% to a new high, AP reported.
Casey’s reported a fuel margin of 41.0 cents per gallon in its fiscal third quarter, with total fuel gross profit up 15.3% from a year ago. Same-store sales inside were up 4.0%. CEO Darren Rebelez said “strong sales and margin expansion” boosted results. Fuel margin, or profit before some costs on each gallon sold, is a main swing factor for Casey’s and similar fuel retailers. Casey’s
Casey’s now sees fiscal 2026 EBITDA growing 18% to 20%. EBITDA, a profit metric before interest, taxes, depreciation and amortization, is often used to compare operating results. The company also forecast inside same-store sales up 3.5% to 4.5%, and same-store fuel gallons anywhere from down 1% to up 1%.
Mixed read from peers. Murphy USA shares last traded at $531.16, off around 2.2%, putting its market cap close to $9.9 billion. That’s keeping investors on watch for signs that fuel margins could be coming down for fuel-and-convenience players beyond just Casey’s.
Casey’s hit the S&P 500 in April, a move Rebelez called “a significant milestone.” Index funds picked up more exposure to Casey’s with the inclusion. The company said it’s the first time in the S&P 500 since its 1983 debut as a public company. Business Wire
But it works both ways. If fuel margins drop quicker than investors think, or if management’s outlook for fiscal 2027 seems too careful after the stock’s jump, the shares might have a tougher time even with good store numbers. The stock traded around 46 times earnings, so there’s not much buffer for a weak quarter.
Casey’s keeps analyst backing, a higher index weight, and solid recent operating results. The focus now shifts to June’s report and if fuel profits stay firm.
