Insider Buying: Casey’s General Stores, Inc. (NASDAQ:CASY) Director Acquires $198,380.00 in Stock

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

Casey’s General Stores Trading Down 0.4 %

Casey’s General Stores stock opened at $403.98 on Friday. The stock has a 50-day moving average price of $409.49 and a 200 day moving average price of $387.35. The company has a market capitalization of $14.99 billion, a price-to-earnings ratio of 28.15 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 quick ratio of 0.44, a current ratio of 0.88 and a debt-to-equity ratio of 0.74.

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, beating the consensus estimate 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 net margin of 3.57% and a return on equity of 17.17%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $4.24 EPS. Sell-side analysts anticipate that Casey’s General Stores, Inc. will post 14.28 EPS for the current year.

Casey’s General Stores Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 17th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.50%. The ex-dividend date is Monday, February 3rd. Casey’s General Stores’s dividend payout ratio is currently 13.94%.

Hedge Funds Weigh In On Casey’s General Stores

Institutional investors and hedge funds have recently modified their holdings of the stock. Innealta Capital LLC purchased a new position in Casey’s General Stores during the second quarter valued at approximately $32,000. Venturi Wealth Management LLC increased its holdings in shares of Casey’s General Stores by 941.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 125 shares of the company’s stock valued at $47,000 after purchasing an additional 113 shares in the last quarter. V Square Quantitative Management LLC boosted 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 buying an additional 29 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Casey’s General Stores during the second quarter worth $68,000. Finally, Quarry LP acquired a new stake in Casey’s General Stores during the second quarter valued at $72,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CASY shares. Wells Fargo & Company lifted their target price on Casey’s General Stores from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. StockNews.com lowered shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. downgraded shares of Casey’s General Stores from a “neutral” rating to an “underweight” rating and raised their target price for the company from $300.00 to $337.00 in a research note on Thursday, September 19th. Gordon Haskett initiated coverage on Casey’s General Stores in a research report on Monday, November 4th. They set a “hold” rating and a $400.00 price target on the stock. Finally, Evercore ISI raised their price objective on Casey’s General Stores from $460.00 to $470.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $424.00.

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.