Casey’s General Stores (NASDAQ:CASY) Director Sells 530 Shares

Casey’s General Stores, Inc. (NASDAQ:CASY) Director Allison Wing sold 530 shares of the company’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $837.58, for a total transaction of $443,917.40. Following the completion of the sale, the director owned 3,042 shares of the company’s stock, valued at approximately $2,547,918.36. This represents a 14.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Casey’s General Stores Trading Up 0.2%

CASY stock traded up $1.36 during midday trading on Friday, hitting $823.36. 115,866 shares of the company’s stock were exchanged, compared to its average volume of 544,203. Casey’s General Stores, Inc. has a one year low of $490.00 and a one year high of $927.85. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 1.01. The company has a market cap of $30.47 billion, a PE ratio of 42.95, a price-to-earnings-growth ratio of 2.53 and a beta of 0.62. The stock’s fifty day moving average price is $822.83 and its 200-day moving average price is $721.48.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $1.06. The business had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.33 billion. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.Casey’s General Stores’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.63 EPS. Research analysts predict that Casey’s General Stores, Inc. will post 21.14 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Saturday, August 1st will be paid a $0.65 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $2.60 annualized dividend and a dividend yield of 0.3%. 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 (DPR) is 11.90%.

Analyst Ratings Changes

A number of brokerages have recently commented on CASY. Wolfe Research reissued an “outperform” rating and issued a $1,069.00 price objective on shares of Casey’s General Stores in a research report on Thursday, June 11th. The Goldman Sachs Group lifted their target price on Casey’s General Stores from $695.00 to $795.00 and gave the company a “neutral” rating in a research report on Thursday, June 25th. Weiss Ratings raised Casey’s General Stores from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday. KeyCorp raised their price target on Casey’s General Stores from $950.00 to $970.00 and gave the company an “overweight” rating in a research note on Thursday, June 11th. Finally, Wall Street Zen raised Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Thirteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $939.29.

Institutional Investors Weigh In On Casey’s General Stores

A number of large investors have recently added to or reduced their stakes in the business. Kathmere Capital Management LLC grew its holdings in Casey’s General Stores by 3.5% during the 1st quarter. Kathmere Capital Management LLC now owns 387 shares of the company’s stock worth $282,000 after acquiring an additional 13 shares during the period. Pinnacle Bancorp Inc. boosted its position in shares of Casey’s General Stores by 4.8% during the 1st quarter. Pinnacle Bancorp Inc. now owns 303 shares of the company’s stock valued at $221,000 after purchasing an additional 14 shares in the last quarter. Lincoln Capital LLC boosted its position in shares of Casey’s General Stores by 4.0% during the 2nd quarter. Lincoln Capital LLC now owns 366 shares of the company’s stock valued at $291,000 after purchasing an additional 14 shares in the last quarter. Menard Financial Group LLC grew its stake in Casey’s General Stores by 1.2% during the fourth quarter. Menard Financial Group LLC now owns 1,267 shares of the company’s stock worth $700,000 after purchasing an additional 15 shares during the period. Finally, Cibc World Market Inc. grew its stake in Casey’s General Stores by 0.3% during the fourth quarter. Cibc World Market Inc. now owns 5,136 shares of the company’s stock worth $2,839,000 after purchasing an additional 16 shares during the period. Institutional investors own 85.63% of the company’s stock.

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.