Casey's General Stores, Inc. (NASDAQ:CASY - Get Free Report) Director Mike Spanos purchased 256 shares of the business's stock in a transaction on Friday, June 26th. The shares were bought at an average cost of $778.81 per share, for a total transaction of $199,375.36. Following the purchase, the director owned 4,758 shares of the company's stock, valued at $3,705,577.98. This trade represents a 5.69% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.
Casey's General Stores Stock Up 0.2%
Shares of NASDAQ CASY opened at $780.24 on Tuesday. Casey's General Stores, Inc. has a 52-week low of $490.00 and a 52-week high of $927.85. The firm has a fifty day moving average of $819.20 and a 200-day moving average of $706.89. The stock has a market capitalization of $28.87 billion, a PE ratio of 40.72, a P/E/G ratio of 2.34 and a beta of 0.61. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59.
Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, topping analysts' consensus estimates of $3.31 by $1.06. The business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.33 billion. Casey's General Stores had a return on equity of 18.73% and a net margin of 4.07%.The business's revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.63 EPS. On average, analysts anticipate 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. Shareholders of record on Saturday, August 1st will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.3%. This is a boost from Casey's General Stores's previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, July 31st. Casey's General Stores's dividend payout ratio (DPR) is presently 13.57%.
Analyst Ratings Changes
A number of equities analysts have recently commented on the company. Zacks Research downgraded Casey's General Stores from a "strong-buy" rating to a "hold" rating in a report on Friday, June 5th. Evercore reissued an "outperform" rating and set a $990.00 target price on shares of Casey's General Stores in a research report on Friday, June 12th. BNP Paribas Exane dropped their target price on shares of Casey's General Stores from $1,032.00 to $995.00 and set an "outperform" rating for the company in a research report on Thursday, June 25th. Wells Fargo & Company raised their price target on shares of Casey's General Stores from $910.00 to $960.00 and gave the company an "overweight" rating in a report on Thursday, June 11th. Finally, Royal Bank Of Canada lifted their price target on shares of Casey's General Stores from $794.00 to $850.00 and gave the company a "sector perform" rating in a research report on Thursday. Thirteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Casey's General Stores presently has an average rating of "Moderate Buy" and a consensus price target of $939.29.
Read Our Latest Analysis on Casey's General Stores
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the stock. Foster Dykema Cabot & Partners LLC acquired a new position in shares of Casey's General Stores during the third quarter worth about $25,000. Whipplewood Advisors LLC acquired a new stake in shares of Casey's General Stores in the first quarter valued at about $33,000. True Wealth Design LLC grew its stake in shares of Casey's General Stores by 350.0% in the fourth quarter. True Wealth Design LLC now owns 54 shares of the company's stock valued at $30,000 after buying an additional 42 shares in the last quarter. Central Pacific Bank Trust Division raised its holdings in shares of 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 valued at $30,000 after buying an additional 19 shares during the period. Finally, RMG Wealth Management LLC raised its holdings in shares of Casey's General Stores by 250.0% during the 1st quarter. RMG Wealth Management LLC now owns 56 shares of the company's stock valued at $41,000 after buying an additional 40 shares during the period. 85.63% of the stock is owned by hedge funds and other institutional investors.
Casey's General Stores Company Profile
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Get Free Report)
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.
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