Insider Buying: Casey’s General Stores (NASDAQ:CASY) Director Buys $199,375.36 in Stock

Casey’s General Stores, Inc. (NASDAQ:CASY) Director Mike Spanos acquired 256 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The stock was acquired at an average price of $778.81 per share, with a total value of $199,375.36. Following the acquisition, the director directly owned 4,758 shares of the company’s stock, valued at approximately $3,705,577.98. This represents a 5.69% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Casey’s General Stores Stock Up 0.2%

Casey’s General Stores stock traded up $1.61 during mid-day trading on Monday, reaching $780.24. 749,003 shares of the company’s stock were exchanged, compared to its average volume of 547,173. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. Casey’s General Stores, Inc. has a twelve month low of $490.00 and a twelve month high of $927.85. The company has a market cap of $28.88 billion, a P/E ratio of 40.72, a P/E/G ratio of 2.34 and a beta of 0.61. The company has a fifty day moving average of $818.34 and a 200-day moving average of $705.36.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, topping the consensus estimate 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 business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter in the previous year, the firm posted $2.63 earnings per share. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. Sell-side analysts expect that Casey’s General Stores, Inc. will post 21.05 EPS for the current year.

Casey’s General Stores Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Saturday, August 1st will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Friday, July 31st. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.57. Casey’s General Stores’s payout ratio is presently 11.90%.

Institutional Trading of Casey’s General Stores

Several institutional investors have recently modified their holdings of the stock. Foster Dykema Cabot & Partners LLC purchased a new position in shares of Casey’s General Stores in the 3rd quarter valued at $25,000. Central Pacific Bank Trust Division lifted its position in Casey’s General Stores by 52.8% in the fourth quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock valued at $30,000 after acquiring an additional 19 shares during the last quarter. True Wealth Design LLC grew its holdings in shares of Casey’s General Stores by 350.0% during the fourth quarter. True Wealth Design LLC now owns 54 shares of the company’s stock worth $30,000 after purchasing an additional 42 shares during the last quarter. Whipplewood Advisors LLC purchased a new position in shares of Casey’s General Stores during the first quarter worth about $33,000. Finally, ORG Partners LLC increased its position in shares of Casey’s General Stores by 47.6% during the fourth quarter. ORG Partners LLC now owns 62 shares of the company’s stock worth $34,000 after purchasing an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CASY. The Goldman Sachs Group lifted their price objective on Casey’s General Stores from $695.00 to $795.00 and gave the company a “neutral” rating in a research note on Thursday. BNP Paribas Exane cut their target price on shares of Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating on the stock in a research note on Thursday. KeyCorp raised their target price on shares of Casey’s General Stores from $950.00 to $970.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. William Blair initiated coverage on shares of Casey’s General Stores in a research note on Wednesday, May 20th. They issued an “outperform” rating for the company. Finally, Jefferies Financial Group boosted their price target on shares of Casey’s General Stores from $700.00 to $780.00 and gave the stock a “buy” rating in a report on Tuesday, March 10th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $939.29.

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.