Casey’s General Stores (NASDAQ:CASY) Director Mike Spanos Buys 300 Shares

Casey’s General Stores, Inc. (NASDAQ:CASY) Director Mike Spanos purchased 300 shares of Casey’s General Stores stock in a transaction dated Friday, March 13th. The stock was bought at an average price of $665.43 per share, for a total transaction of $199,629.00. Following the completion of the purchase, the director owned 4,499 shares in the company, valued at $2,993,769.57. This represents a 7.14% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Casey’s General Stores Trading Up 1.9%

Shares of Casey’s General Stores stock opened at $673.27 on Tuesday. The firm’s 50 day moving average is $645.94 and its 200 day moving average is $582.09. The firm has a market capitalization of $24.88 billion, a PE ratio of 38.65, a price-to-earnings-growth ratio of 2.18 and a beta of 0.65. Casey’s General Stores, Inc. has a 1 year low of $386.04 and a 1 year high of $696.66. The company has a current ratio of 1.04, a quick ratio of 0.64 and a debt-to-equity ratio of 0.61.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Monday, March 9th. The company reported $3.49 EPS for the quarter, beating the consensus estimate of $2.94 by $0.55. Casey’s General Stores had a net margin of 3.83% and a return on equity of 17.56%. The business had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the prior year, the firm earned $2.33 EPS. The firm’s revenue was up .3% compared to the same quarter last year. Equities research analysts forecast that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 1st will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, May 1st. This represents a $2.28 annualized dividend and a dividend yield of 0.3%. Casey’s General Stores’s dividend payout ratio (DPR) is 13.09%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Foster Dykema Cabot & Partners LLC acquired a new stake in shares of Casey’s General Stores during the third quarter worth $25,000. Westside Investment Management Inc. lifted its holdings in Casey’s General Stores by 100.0% in the third quarter. Westside Investment Management Inc. now owns 46 shares of the company’s stock valued at $26,000 after buying an additional 23 shares during the period. True Wealth Design LLC boosted its position in Casey’s General Stores by 350.0% during the fourth quarter. True Wealth Design LLC now owns 54 shares of the company’s stock valued at $30,000 after acquiring an additional 42 shares during the last quarter. Central Pacific Bank Trust Division boosted its position in Casey’s General Stores by 52.8% during 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. Finally, Atlantic Union Bankshares Corp acquired a new stake in Casey’s General Stores during the 3rd quarter worth about $33,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

Analyst Ratings Changes

CASY has been the subject of a number of recent research reports. Zacks Research cut Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a report on Monday, February 23rd. Evercore set a $665.00 price target on Casey’s General Stores and gave the company an “outperform” rating in a research note on Tuesday, February 24th. Jefferies Financial Group upped their price objective on Casey’s General Stores from $700.00 to $780.00 and gave the company a “buy” rating in a research note on Tuesday, March 10th. BMO Capital Markets reiterated a “market perform” rating and issued a $700.00 price objective on shares of Casey’s General Stores in a report on Wednesday, March 4th. Finally, The Goldman Sachs Group lifted their target price on shares of Casey’s General Stores from $530.00 to $605.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 11th. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $698.20.

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.