Casey’s General Stores, Inc. (NASDAQ:CASY) Director Purchases $99,978.24 in Stock

Casey’s General Stores, Inc. (NASDAQ:CASY) Director Mike Spanos purchased 256 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were acquired at an average price of $390.54 per share, for a total transaction of $99,978.24. Following the purchase, the director now directly owns 3,356 shares of the company’s stock, valued at approximately $1,310,652.24. The trade was a 8.26 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Mike Spanos also recently made the following trade(s):

• On Monday, December 23rd, Mike Spanos bought 500 shares of Casey’s General Stores stock. The shares were purchased at an average cost of $396.76 per share, with a total value of $198,380.00.

Casey’s General Stores Trading Up 2.8 %

Shares of NASDAQ:CASY opened at $395.63 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.49 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $14.69 billion, a PE ratio of 27.57, a PEG ratio of 2.40 and a beta of 0.87. The business has a 50 day moving average of $409.52 and a two-hundred day moving average of $400.07. Casey’s General Stores, Inc. has a 12-month low of $303.95 and a 12-month high of $445.17.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Tuesday, March 11th. The company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.57. The business had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.74 billion. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The business’s quarterly revenue was up 17.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.33 EPS. As a group, analysts forecast that Casey’s General Stores, Inc. will post 13.94 EPS for the current year.

Casey’s General Stores Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Thursday, May 1st. Casey’s General Stores’s payout ratio is 13.94%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CASY. Raymond James Financial Inc. acquired a new position in shares of Casey’s General Stores during the 4th quarter worth approximately $236,500,000. Norges Bank purchased a new stake in shares of Casey’s General Stores during the fourth quarter worth approximately $175,607,000. Wellington Management Group LLP increased its position in shares of Casey’s General Stores by 160.1% during the fourth quarter. Wellington Management Group LLP now owns 428,201 shares of the company’s stock worth $169,666,000 after purchasing an additional 263,545 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Casey’s General Stores by 49.9% during the third quarter. Franklin Resources Inc. now owns 524,237 shares of the company’s stock worth $204,861,000 after purchasing an additional 174,586 shares in the last quarter. Finally, Benjamin Edwards Inc. increased its position in shares of Casey’s General Stores by 1,819.1% during the third quarter. Benjamin Edwards Inc. now owns 130,291 shares of the company’s stock worth $48,959,000 after purchasing an additional 123,502 shares in the last quarter. 85.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CASY has been the subject of a number of research reports. Gordon Haskett raised Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. StockNews.com downgraded Casey’s General Stores from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Royal Bank of Canada set a $438.00 target price on Casey’s General Stores and gave the stock a “sector perform” rating in a report on Wednesday. Evercore ISI decreased their target price on Casey’s General Stores from $460.00 to $450.00 and set an “outperform” rating for the company in a report on Tuesday, March 11th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $450.00 target price (up previously from $400.00) on shares of Casey’s General Stores in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $423.09.

Casey’s General Stores Company Profile

Casey’s General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.