Casey’s General Stores, Inc. (NASDAQ:CASY) Director Mike Spanos Buys 500 Shares

Casey’s General Stores, Inc. (NASDAQ:CASY) Director Mike Spanos acquired 500 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were purchased at an average cost of $396.76 per share, for a total transaction of $198,380.00. Following the completion of the purchase, the director now directly owns 3,097 shares of the company’s stock, valued at approximately $1,228,765.72. The trade was a 19.25 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Casey’s General Stores Price Performance

Shares of CASY stock opened at $405.48 on Friday. The firm’s 50 day moving average price is $409.21 and its two-hundred day moving average price is $386.40. The stock has a market cap of $15.05 billion, a PE ratio of 28.26 and a beta of 0.80. Casey’s General Stores, Inc. has a 52-week low of $268.07 and a 52-week high of $439.68. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.44 and a current ratio of 0.88.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Monday, December 9th. The company reported $4.85 EPS for the quarter, topping analysts’ consensus estimates of $4.29 by $0.56. The business had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $4.03 billion. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.24 earnings per share. As a group, analysts forecast that Casey’s General Stores, Inc. will post 14.28 EPS for the current year.

Casey’s General Stores Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 17th. Stockholders of record on Monday, February 3rd will be paid a $0.50 dividend. The ex-dividend date is Monday, February 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.49%. Casey’s General Stores’s dividend payout ratio (DPR) is presently 13.94%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Evercore ISI raised their price target on Casey’s General Stores from $460.00 to $470.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Deutsche Bank Aktiengesellschaft raised their target price on Casey’s General Stores from $451.00 to $454.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Melius Research began coverage on shares of Casey’s General Stores in a report on Monday, September 23rd. They set a “buy” rating and a $435.00 price objective on the stock. JPMorgan Chase & Co. downgraded shares of Casey’s General Stores from a “neutral” rating to an “underweight” rating and boosted their target price for the stock from $300.00 to $337.00 in a research note on Thursday, September 19th. Finally, StockNews.com cut shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $424.00.

Institutional Trading of Casey’s General Stores

A number of hedge funds have recently modified their holdings of CASY. Innealta Capital LLC acquired a new stake in Casey’s General Stores in the second quarter worth $32,000. Venturi Wealth Management LLC lifted its holdings in Casey’s General Stores by 941.7% during the third quarter. Venturi Wealth Management LLC now owns 125 shares of the company’s stock worth $47,000 after acquiring an additional 113 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in Casey’s General Stores by 22.5% during the third quarter. V Square Quantitative Management LLC now owns 158 shares of the company’s stock worth $59,000 after acquiring an additional 29 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Casey’s General Stores in the second quarter valued at about $68,000. Finally, Quarry LP bought a new stake in shares of Casey’s General Stores in the second quarter worth about $72,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.

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.