Insider Buying: Casey’s General Stores, Inc. (NASDAQ:CASY) Director Buys 500 Shares of Stock

Casey’s General Stores, Inc. (NASDAQ:CASY) Director Mike Spanos acquired 500 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average cost of $396.76 per share, with a total value of $198,380.00. Following the acquisition, the director now owns 3,097 shares in the company, valued at $1,228,765.72. The trade was a 19.25 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Casey’s General Stores Stock Down 0.4 %

CASY stock opened at $403.98 on Friday. Casey’s General Stores, Inc. has a 1-year low of $268.07 and a 1-year high of $439.68. The stock has a market cap of $14.99 billion, a price-to-earnings ratio of 28.15 and a beta of 0.80. The company has a current ratio of 0.88, a quick ratio of 0.44 and a debt-to-equity ratio of 0.74. The company’s 50 day moving average is $409.49 and its 200 day moving average is $386.93.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Monday, December 9th. The company reported $4.85 earnings per share for the quarter, beating the consensus estimate of $4.29 by $0.56. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The firm had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter last year, the company posted $4.24 EPS. The business’s quarterly revenue was down 2.9% on a year-over-year basis. Sell-side analysts predict that Casey’s General Stores, Inc. will post 14.28 EPS for the current fiscal year.

Casey’s General Stores Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 17th. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.50%. The ex-dividend date is Monday, February 3rd. Casey’s General Stores’s dividend payout ratio (DPR) is currently 13.94%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CASY shares. Wells Fargo & Company boosted their price target on shares of Casey’s General Stores from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Gordon Haskett began coverage on Casey’s General Stores in a research report on Monday, November 4th. They set a “hold” rating and a $400.00 target price on the stock. Melius Research initiated coverage on Casey’s General Stores in a research report on Monday, September 23rd. They issued a “buy” rating and a $435.00 price target for the company. BMO Capital Markets reissued a “market perform” rating and set a $450.00 price objective (up previously from $400.00) on shares of Casey’s General Stores in a report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. lowered Casey’s General Stores from a “neutral” rating to an “underweight” rating and lifted their target price for the company from $300.00 to $337.00 in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $424.00.

Hedge Funds Weigh In On Casey’s General Stores

Several institutional investors have recently modified their holdings of CASY. International Assets Investment Management LLC bought a new stake in Casey’s General Stores in the 3rd quarter worth approximately $959,880,000. Millennium Management LLC lifted its holdings in shares of Casey’s General Stores by 3,846.1% in the 2nd quarter. Millennium Management LLC now owns 172,320 shares of the company’s stock worth $65,750,000 after acquiring an additional 176,920 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Casey’s General Stores by 49.9% in the 3rd quarter. Franklin Resources Inc. now owns 524,237 shares of the company’s stock valued at $204,861,000 after purchasing an additional 174,586 shares in the last quarter. Benjamin Edwards Inc. grew its holdings in shares of Casey’s General Stores by 1,819.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 130,291 shares of the company’s stock valued at $48,959,000 after purchasing an additional 123,502 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in Casey’s General Stores by 281.4% in the 3rd quarter. Wellington Management Group LLP now owns 164,656 shares of the company’s stock worth $61,863,000 after purchasing an additional 121,488 shares during the period. 85.63% of the stock is currently owned by institutional investors.

Casey’s General Stores Company Profile

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.