Casey’s General Stores (NASDAQ:CASY) CEO Darren Rebelez Sells 19,000 Shares

Casey’s General Stores, Inc. (NASDAQ:CASY) CEO Darren Rebelez sold 19,000 shares of Casey’s General Stores stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $801.46, for a total transaction of $15,227,740.00. Following the completion of the sale, the chief executive officer directly owned 89,174 shares of the company’s stock, valued at approximately $71,469,394.04. The trade was a 17.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Casey’s General Stores Stock Down 2.5%

CASY traded down $21.10 during trading on Thursday, hitting $822.00. 377,351 shares of the company’s stock were exchanged, compared to its average volume of 547,589. 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 business’s 50 day moving average is $822.09 and its two-hundred day moving average is $719.63. Casey’s General Stores, Inc. has a fifty-two week low of $490.00 and a fifty-two week high of $927.85. The stock has a market cap of $30.42 billion, a P/E ratio of 42.90, a PEG ratio of 2.40 and a beta of 0.62.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $3.31 by $1.06. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same quarter in the prior year, the business posted $2.63 EPS. The firm’s revenue was up 14.5% compared to the same quarter last year. As a group, equities analysts expect that Casey’s General Stores, Inc. will post 21.14 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Saturday, August 1st will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.3%. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, July 31st. Casey’s General Stores’s dividend payout ratio (DPR) is currently 13.57%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Casey’s General Stores from $719.00 to $975.00 and gave the company a “neutral” rating in a research report on Friday, June 12th. Wall Street Zen upgraded Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. KeyCorp increased their price target on Casey’s General Stores from $950.00 to $970.00 and gave the company an “overweight” rating in a research report on Thursday, June 11th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,000.00 price objective on shares of Casey’s General Stores in a research note on Monday, June 15th. Finally, Royal Bank Of Canada lifted their price objective on shares of Casey’s General Stores from $794.00 to $850.00 and gave the stock a “sector perform” rating in a report on Thursday, June 25th. Thirteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Casey’s General Stores presently has an average rating of “Moderate Buy” and an average price target of $939.29.

Institutional Investors Weigh In On Casey’s General Stores

Several institutional investors and hedge funds have recently added to or reduced their stakes in CASY. Northwestern Mutual Wealth Management Co. grew its holdings in Casey’s General Stores by 179,938.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,659,164 shares of the company’s stock valued at $1,469,747,000 after purchasing an additional 2,657,687 shares during the period. Norges Bank bought a new stake in shares of Casey’s General Stores in the fourth quarter valued at $265,163,000. Franklin Resources Inc. raised its stake in shares of Casey’s General Stores by 40.9% in the fourth quarter. Franklin Resources Inc. now owns 1,068,682 shares of the company’s stock valued at $590,671,000 after buying an additional 310,470 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Casey’s General Stores by 175.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 471,536 shares of the company’s stock valued at $260,622,000 after buying an additional 300,249 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its position in shares of Casey’s General Stores by 115.9% during the 4th quarter. Corient Private Wealth LLC now owns 423,666 shares of the company’s stock valued at $234,164,000 after buying an additional 227,403 shares during the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Company Profile

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.