Casey’s General Stores (NASDAQ:CASY) Insider Thomas Brennan, Jr. Sells 3,000 Shares of Company Stock

Casey’s General Stores, Inc. (NASDAQ:CASY) insider Thomas Brennan, Jr. sold 3,000 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $786.53, for a total value of $2,359,590.00. Following the completion of the transaction, the insider owned 11,171 shares in the company, valued at approximately $8,786,326.63. The trade was a 21.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Casey’s General Stores Price Performance

CASY stock opened at $674.84 on Thursday. The business has a 50 day moving average price of $662.52 and a 200 day moving average price of $740.48. The stock has a market cap of $24.94 billion, a price-to-earnings ratio of 32.51, a PEG ratio of 2.15 and a beta of 0.59. Casey’s General Stores, Inc. has a fifty-two week low of $513.10 and a fifty-two week high of $927.85. The company has a quick ratio of 0.61, a current ratio of 1.02 and a debt-to-equity ratio of 0.57.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Tuesday, September 8th. The company reported $7.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.78 by $0.59. Casey’s General Stores had a return on equity of 19.68% and a net margin of 4.14%. The firm had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.56 billion. During the same period in the prior year, the company posted $5.77 earnings per share. The firm’s quarterly revenue was up 24.3% compared to the same quarter last year. Equities research analysts anticipate that Casey’s General Stores, Inc. will post 21.61 earnings per share for the current fiscal year.

Casey’s General Stores Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Sunday, November 1st will be issued a $0.65 dividend. The ex-dividend date is Friday, October 30th. This represents a $2.60 annualized dividend and a dividend yield of 0.4%. Casey’s General Stores’s dividend payout ratio is presently 12.52%.

Analyst Ratings Changes

Several equities research analysts recently commented on CASY shares. JPMorgan Chase & Co. cut their price target on shares of Casey’s General Stores from $975.00 to $833.00 and set a “neutral” rating on the stock in a research note on Thursday, September 3rd. Evercore restated an “outperform” rating and issued a $775.00 price objective on shares of Casey’s General Stores in a research note on Friday, September 11th. The Goldman Sachs Group set a $750.00 price objective on Casey’s General Stores in a report on Wednesday, September 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Casey’s General Stores in a report on Monday, October 19th. Finally, Wells Fargo & Company cut their target price on Casey’s General Stores from $960.00 to $750.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 9th. Sixteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Casey’s General Stores has a consensus rating of “Moderate Buy” and an average price target of $835.38.

Institutional Trading of Casey’s General Stores

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Casey’s General Stores during the second quarter worth $2,759,895,000. Bank of America Corp DE purchased a new position in Casey’s General Stores in the second quarter worth $281,872,000. Bank of New York Mellon Corp acquired a new stake in Casey’s General Stores in the second quarter valued at $281,011,000. Jupiter Topco LLC acquired a new stake in Casey’s General Stores in the second quarter valued at $246,982,000. Finally, Corient Private Wealth LP acquired a new stake in Casey’s General Stores in the second quarter valued at $164,376,000. 85.63% of the stock is owned by hedge funds and other institutional investors.

About Casey’s General Stores

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.