Casey’s General Stores, Inc. (NASDAQ:CASY) Insider Sells $1,140,720.00 in Stock

Casey’s General Stores, Inc. (NASDAQ:CASY) insider Thomas P. Brennan, Jr. sold 3,000 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $380.24, for a total transaction of $1,140,720.00. Following the completion of the sale, the insider now owns 9,044 shares in the company, valued at approximately $3,438,890.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Casey’s General Stores Stock Performance

Shares of CASY opened at $373.38 on Thursday. The business has a 50-day simple moving average of $373.45 and a two-hundred day simple moving average of $344.17. The company has a quick ratio of 0.44, a current ratio of 0.84 and a debt-to-equity ratio of 0.44. Casey’s General Stores, Inc. has a 52 week low of $254.25 and a 52 week high of $401.07. The stock has a market cap of $13.86 billion, a price-to-earnings ratio of 27.80, a PEG ratio of 2.71 and a beta of 0.80.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, topping analysts’ consensus estimates of $4.54 by $0.29. The company had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.15 billion. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. The firm’s revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the business earned $4.52 EPS. On average, analysts expect that Casey’s General Stores, Inc. will post 13.45 EPS for the current year.

Casey’s General Stores Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Friday, November 1st. Casey’s General Stores’s dividend payout ratio is currently 14.89%.

Analysts Set New Price Targets

Several research firms recently weighed in on CASY. Royal Bank of Canada upped their price target on Casey’s General Stores from $393.00 to $403.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 5th. Evercore ISI increased their target price on Casey’s General Stores from $410.00 to $435.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft lifted their price target on Casey’s General Stores from $420.00 to $444.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Jefferies Financial Group increased their price objective on shares of Casey’s General Stores from $342.00 to $445.00 and gave the company a “buy” rating in a research report on Wednesday, June 12th. Finally, StockNews.com cut shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 3rd. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Casey’s General Stores presently has an average rating of “Moderate Buy” and a consensus price target of $401.20.

Institutional Investors Weigh In On Casey’s General Stores

Institutional investors and hedge funds have recently bought and sold shares of the business. Rise Advisors LLC bought a new stake in Casey’s General Stores during the 1st quarter valued at approximately $30,000. Park Place Capital Corp purchased a new position in shares of Casey’s General Stores in the second quarter worth $31,000. Advisors Asset Management Inc. bought a new position in shares of Casey’s General Stores during the first quarter worth $32,000. Innealta Capital LLC bought a new position in shares of Casey’s General Stores during the second quarter worth $32,000. Finally, V Square Quantitative Management LLC purchased a new position in Casey’s General Stores during the fourth quarter valued at $35,000. 85.63% of the stock is owned by institutional investors.

About Casey’s General Stores

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.