Casey’s General Stores, Inc. (NASDAQ:CASY) Insider Sells $3,339,798.00 in Stock

Casey’s General Stores, Inc. (NASDAQ:CASY) insider Thomas P. Brennan, Jr. sold 6,600 shares of the firm’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $506.03, for a total value of $3,339,798.00. Following the completion of the transaction, the insider now owns 2,100 shares in the company, valued at approximately $1,062,663. This trade represents a 75.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Casey’s General Stores Stock Down 1.2%

Shares of Casey’s General Stores stock opened at $500.27 on Friday. Casey’s General Stores, Inc. has a fifty-two week low of $350.52 and a fifty-two week high of $512.88. The company has a quick ratio of 0.48, a current ratio of 0.92 and a debt-to-equity ratio of 0.69. The firm has a market cap of $18.57 billion, a P/E ratio of 34.17, a P/E/G ratio of 2.50 and a beta of 0.65. The business has a 50-day moving average price of $460.38 and a 200 day moving average price of $429.38.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Monday, June 9th. The company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.69. Casey’s General Stores had a return on equity of 16.28% and a net margin of 3.43%. The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same period in the previous year, the business earned $2.34 EPS. The business’s quarterly revenue was up 10.9% on a year-over-year basis. On average, sell-side analysts forecast that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be paid a dividend of $0.57 per share. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, August 1st. This represents a $2.28 annualized dividend and a yield of 0.46%. Casey’s General Stores’s payout ratio is presently 13.66%.

Analyst Upgrades and Downgrades

CASY has been the topic of several research reports. Stephens restated an “overweight” rating and issued a $490.00 price target on shares of Casey’s General Stores in a report on Tuesday, June 10th. BMO Capital Markets lifted their target price on Casey’s General Stores from $450.00 to $515.00 and gave the stock a “market perform” rating in a research report on Wednesday, June 11th. The Goldman Sachs Group lifted their target price on Casey’s General Stores from $385.00 to $450.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 11th. Wall Street Zen raised Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Saturday, June 14th. Finally, Wells Fargo & Company lifted their price objective on Casey’s General Stores from $460.00 to $540.00 and gave the stock an “overweight” rating in a report on Wednesday, June 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $453.00.

Institutional Investors Weigh In On Casey’s General Stores

Institutional investors have recently modified their holdings of the business. Versant Capital Management Inc bought a new stake in shares of Casey’s General Stores during the 1st quarter valued at about $25,000. Global Financial Private Client LLC grew its holdings in shares of Casey’s General Stores by 325.0% during the first quarter. Global Financial Private Client LLC now owns 68 shares of the company’s stock valued at $30,000 after purchasing an additional 52 shares during the last quarter. Summit Securities Group LLC bought a new position in shares of Casey’s General Stores during the first quarter valued at approximately $32,000. Iron Horse Wealth Management LLC grew its holdings in shares of Casey’s General Stores by 40.0% during the first quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company’s stock valued at $40,000 after purchasing an additional 26 shares during the last quarter. Finally, WPG Advisers LLC bought a new position in Casey’s General Stores during the 1st quarter worth $47,000. Institutional investors own 85.63% of the company’s stock.

About Casey’s General Stores

Casey’s General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.