Key Points
- CEO Darren Rebelez sold 19,000 shares of Casey’s General Stores on July 7 at an average price of $801.46, totaling about $15.2 million. After the sale, he still held 89,174 shares, and the transaction cut his ownership by 17.56%.
- Casey’s reported strong quarterly results, with earnings per share of $4.37 beating estimates of $3.31 and revenue of $4.57 billion topping forecasts. Revenue rose 14.5% year over year, and analysts now expect full-year EPS of 21.14.
- The company also raised its quarterly dividend to $0.65 per share from $0.57, payable August 14. That implies an annualized dividend of $2.60 and a yield of about 0.3%.
Casey's General Stores, Inc. (NASDAQ:CASY - Get Free Report) CEO Darren Rebelez sold 19,000 shares of the company's stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $801.46, for a total value of $15,227,740.00. Following the completion of the transaction, the chief executive officer directly owned 89,174 shares in the company, valued at $71,469,394.04. This trade represents a 17.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Casey's General Stores Stock Performance
Shares of CASY opened at $822.00 on Friday. The company has a market cap of $30.42 billion, a price-to-earnings ratio of 42.90, a P/E/G ratio of 2.53 and a beta of 0.62. The business's fifty day simple moving average is $822.83 and its two-hundred day simple moving average is $721.48. Casey's General Stores, Inc. has a 12 month low of $490.00 and a 12 month high of $927.85. The company has a current ratio of 1.01, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59.
Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, topping the consensus estimate of $3.31 by $1.06. Casey's General Stores had a return on equity of 18.73% and a net margin of 4.07%.The firm had revenue of $4.57 billion during the quarter, compared to analysts' expectations of $4.33 billion. During the same quarter in the previous year, the business earned $2.63 earnings per share. The company's revenue was up 14.5% on a year-over-year basis. Research analysts anticipate 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 business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Saturday, August 1st will be paid a dividend of $0.65 per share. The ex-dividend date is Friday, July 31st. This represents a $2.60 annualized dividend and a yield of 0.3%. This is an increase from Casey's General Stores's previous quarterly dividend of $0.57. Casey's General Stores's dividend payout ratio (DPR) is currently 11.90%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of CASY. Central Pacific Bank Trust Division increased its stake in shares of Casey's General Stores by 52.8% in the 4th quarter. Central Pacific Bank Trust Division now owns 55 shares of the company's stock worth $30,000 after purchasing an additional 19 shares in the last quarter. True Wealth Design LLC lifted 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 purchasing an additional 42 shares in the last quarter. Whipplewood Advisors LLC bought a new stake in Casey's General Stores during the first quarter valued at about $33,000. ORG Partners LLC grew its holdings in Casey's General Stores by 47.6% during the fourth quarter. ORG Partners LLC now owns 62 shares of the company's stock valued at $34,000 after purchasing an additional 20 shares during the period. Finally, Vermillion & White Wealth Management Group LLC purchased a new stake in Casey's General Stores in the third quarter worth about $35,000. Hedge funds and other institutional investors own 85.63% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on CASY shares. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $1,000.00 price target on shares of Casey's General Stores in a research note on Monday, June 15th. Wells Fargo & Company lifted their target price on shares of Casey's General Stores from $910.00 to $960.00 and gave the stock an "overweight" rating in a research report on Thursday, June 11th. William Blair started coverage on shares of Casey's General Stores in a research note on Wednesday, May 20th. They set an "outperform" rating for the company. UBS Group increased their price target on Casey's General Stores from $805.00 to $945.00 and gave the company a "neutral" rating in a report on Thursday, June 11th. Finally, Morgan Stanley upgraded Casey's General Stores to a "buy" rating in a research note on Wednesday, June 10th. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $939.29.
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Casey's General Stores Company Profile
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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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