Mike Spanos Buys 256 Shares of Casey’s General Stores (NASDAQ:CASY) Stock

Casey’s General Stores, Inc. (NASDAQ:CASY) Director Mike Spanos bought 256 shares of the company’s stock in a transaction dated Friday, June 26th. The shares were acquired at an average cost 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Casey’s General Stores Price Performance

Shares of NASDAQ:CASY traded up $1.61 during midday trading on Monday, hitting $780.24. The company’s stock had a trading volume of 749,003 shares, compared to its average volume of 547,173. The company has a market cap of $28.88 billion, a P/E ratio of 40.72, a price-to-earnings-growth ratio of 2.34 and a beta of 0.61. Casey’s General Stores, Inc. has a 12-month low of $490.00 and a 12-month high of $927.85. The business’s 50 day simple moving average is $818.34 and its 200 day simple moving average is $705.36. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 1.01.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $1.06. The company had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.33 billion. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. Casey’s General Stores’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.63 EPS. On average, analysts forecast that Casey’s General Stores, Inc. will post 21.05 EPS for the current year.

Casey’s General Stores Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Saturday, August 1st will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend 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 dividend payout ratio is presently 11.90%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Royal Bank Of Canada raised their price objective on shares of Casey’s General Stores from $794.00 to $850.00 and gave the stock a “sector perform” rating in a research report on Thursday. Weiss Ratings reissued a “buy (b)” rating on shares of Casey’s General Stores in a research note on Wednesday. William Blair initiated coverage on shares of Casey’s General Stores in a report on Wednesday, May 20th. They set an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $1,000.00 price target on shares of Casey’s General Stores in a research report on Monday, June 15th. Finally, Zacks Research cut Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $939.29.

Institutional Trading of Casey’s General Stores

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Foster Dykema Cabot & Partners LLC acquired a new stake in shares of Casey’s General Stores in the third quarter valued at $25,000. Central Pacific Bank Trust Division lifted its stake in Casey’s General Stores by 52.8% during the 4th quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock worth $30,000 after acquiring an additional 19 shares in the last quarter. True Wealth Design LLC boosted its holdings in Casey’s General Stores by 350.0% during the 4th 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 period. Whipplewood Advisors LLC acquired a new position in Casey’s General Stores in the 1st quarter valued at about $33,000. Finally, ORG Partners LLC grew its position in Casey’s General Stores by 47.6% in the 4th quarter. ORG Partners LLC now owns 62 shares of the company’s stock valued at $34,000 after acquiring an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

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.