Insider Selling: Casey’s General Stores (CASY) VP Sells $108,850.00 in Stock

Casey’s General Stores (NASDAQ:CASY) VP William J. Walljasper sold 1,000 shares of the firm’s stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $108.85, for a total value of $108,850.00. Following the transaction, the vice president now owns 21,452 shares in the company, valued at approximately $2,335,050.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

CASY opened at $107.64 on Friday. Casey’s General Stores has a 1 year low of $99.76 and a 1 year high of $128.51. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.48 and a current ratio of 1.03. The stock has a market capitalization of $4,113.21, a price-to-earnings ratio of 27.53, a P/E/G ratio of 2.14 and a beta of 0.59.

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Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Wednesday, March 7th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.14). Casey’s General Stores had a net margin of 4.03% and a return on equity of 12.70%. The company had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter last year, the firm earned $0.58 EPS. Casey’s General Stores’s revenue for the quarter was up 16.1% on a year-over-year basis. sell-side analysts predict that Casey’s General Stores will post 4.07 EPS for the current fiscal year.

Casey’s General Stores declared that its board has initiated a stock repurchase plan on Wednesday, March 7th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Tuesday, May 1st will be paid a $0.26 dividend. The ex-dividend date is Monday, April 30th. This represents a $1.04 annualized dividend and a yield of 0.97%. Casey’s General Stores’s dividend payout ratio (DPR) is presently 23.21%.

Institutional investors and hedge funds have recently bought and sold shares of the business. Prime Capital Investment Advisors LLC purchased a new position in Casey’s General Stores in the fourth quarter valued at about $105,000. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Casey’s General Stores during the fourth quarter worth about $133,000. Zions Bancorporation purchased a new stake in shares of Casey’s General Stores during the third quarter worth about $164,000. Aristotle Atlantic Partners LLC purchased a new stake in shares of Casey’s General Stores during the fourth quarter worth about $204,000. Finally, Franklin Resources Inc. purchased a new stake in shares of Casey’s General Stores during the fourth quarter worth about $222,000. Institutional investors own 98.03% of the company’s stock.

Several equities analysts have recently commented on CASY shares. BidaskClub lowered Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 24th. Gabelli started coverage on Casey’s General Stores in a research note on Friday, February 16th. They set a “buy” rating and a $162.00 price target on the stock. Wells Fargo restated a “market perform” rating and set a $116.00 price target (down previously from $118.00) on shares of Casey’s General Stores in a research note on Thursday, March 8th. BMO Capital Markets cut their price target on Casey’s General Stores from $122.00 to $105.00 and set a “market perform” rating on the stock in a research note on Friday, March 9th. Finally, Royal Bank of Canada set a $112.00 price target on Casey’s General Stores and gave the company a “hold” rating in a research note on Tuesday, February 27th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Casey’s General Stores currently has an average rating of “Hold” and a consensus price target of $122.91.

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About Casey’s General Stores

Casey’s General Stores, Inc and its subsidiaries, operate convenience stores under the name Casey’s General Store in approximately 10 Midwestern states, in Iowa, Missouri, and Illinois. The Company also operates approximately two stores selling primarily tobacco products. The stores carry a range of food, including freshly prepared foods such as pizza, donuts, and sandwiches, beverages, tobacco products, health and beauty aids, automotive products and other nonfood items.

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