Casey’s General Stores, Inc. (NASDAQ:CASY) Director Mike Spanos Acquires 267 Shares

Casey’s General Stores, Inc. (NASDAQ:CASY) Director Mike Spanos purchased 267 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were purchased at an average cost of $376.18 per share, with a total value of $100,440.06. Following the completion of the acquisition, the director now owns 2,594 shares in the company, valued at approximately $975,810.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Casey’s General Stores Stock Performance

Shares of CASY opened at $368.00 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.84 and a quick ratio of 0.44. The firm’s 50 day moving average is $374.29 and its 200-day moving average is $347.32. Casey’s General Stores, Inc. has a 12-month low of $260.13 and a 12-month high of $401.07. The stock has a market capitalization of $13.66 billion, a P/E ratio of 27.40, a P/E/G ratio of 2.58 and a beta of 0.80.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 17.07% and a net margin of 3.40%. The firm’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.52 earnings per share. Equities research analysts anticipate that Casey’s General Stores, Inc. will post 14.15 EPS for the current fiscal year.

Casey’s General Stores Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis 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 14.89%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. BMO Capital Markets lifted their target price on Casey’s General Stores from $305.00 to $400.00 and gave the stock a “market perform” rating in a research report on Thursday, June 13th. Evercore ISI lifted their price target 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. StockNews.com lowered shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 3rd. Jefferies Financial Group lifted their target price on Casey’s General Stores from $342.00 to $445.00 and gave the company a “buy” rating in a research note on Wednesday, June 12th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Casey’s General Stores currently has an average rating of “Moderate Buy” and an average price target of $404.90.

Institutional Trading of Casey’s General Stores

Large investors have recently added to or reduced their stakes in the company. Congress Asset Management Co. MA purchased a new stake in shares of Casey’s General Stores during the first quarter worth $112,081,000. Steward Partners Investment Advisory LLC raised its holdings 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 worth $958,000 after acquiring an additional 2,309 shares during the period. Kapitalo Investimentos Ltda bought a new position in shares of Casey’s General Stores in the fourth quarter worth about $903,000. Azimuth Capital Investment Management LLC bought a new position in Casey’s General Stores in the 4th quarter worth approximately $8,498,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Casey’s General Stores during the first quarter worth $794,000. 85.63% of the stock is 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.