Casey’s General Stores, Inc. (NASDAQ:CASY) CEO Sells $5,056,290.00 in Stock

Casey’s General Stores, Inc. (NASDAQ:CASY) CEO Darren M. Rebelez sold 13,500 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $374.54, for a total transaction of $5,056,290.00. Following the sale, the chief executive officer now directly owns 73,838 shares in the company, valued at $27,655,284.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Casey’s General Stores Stock Up 2.3 %

CASY stock opened at $382.07 on Friday. The firm’s fifty day moving average is $373.69 and its 200 day moving average is $344.44. The firm has a market cap of $14.18 billion, a PE ratio of 28.45, a P/E/G ratio of 2.71 and a beta of 0.80. Casey’s General Stores, Inc. has a one year low of $260.13 and a one year high of $401.07. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.44 and a current ratio of 0.84.

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

Casey’s General Stores Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.52%. The ex-dividend date is Friday, November 1st. Casey’s General Stores’s payout ratio is 14.89%.

Analyst Ratings Changes

CASY has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price target on Casey’s General Stores from $298.00 to $300.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Royal Bank of Canada upped their target price on Casey’s General Stores from $393.00 to $403.00 and gave the company a “sector perform” rating in a research report on Thursday, September 5th. Benchmark reissued a “buy” rating and set a $410.00 price target on shares of Casey’s General Stores in a research report on Tuesday. Evercore ISI upped their price objective on shares of Casey’s General Stores from $410.00 to $435.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Finally, BMO Capital Markets raised their target price on shares of Casey’s General Stores from $305.00 to $400.00 and gave the stock a “market perform” rating in a report on Thursday, June 13th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $401.20.

Institutional Investors Weigh In On Casey’s General Stores

A number of institutional investors have recently added to or reduced their stakes in the stock. Congress Asset Management Co. MA purchased a new position in Casey’s General Stores during the first quarter valued at $112,081,000. Steward Partners Investment Advisory LLC lifted its stake in Casey’s General Stores by 195.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,488 shares of the company’s stock valued at $958,000 after buying an additional 2,309 shares in the last quarter. Principal Securities Inc. acquired a new stake in Casey’s General Stores in the 4th quarter worth about $666,000. Kapitalo Investimentos Ltda purchased a new stake in Casey’s General Stores during the 4th quarter worth approximately $903,000. Finally, Azimuth Capital Investment Management LLC acquired a new position in shares of Casey’s General Stores during the fourth quarter valued at approximately $8,498,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Company Profile

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.