Insider Selling: Casey’s General Stores (NASDAQ:CASY) Insider Sells $1,936,679.80 in Stock

Casey’s General Stores, Inc. (NASDAQ:CASY) insider Chad Michael Frazell sold 3,487 shares of the company’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $555.40, for a total value of $1,936,679.80. Following the transaction, the insider directly owned 7,993 shares in the company, valued at approximately $4,439,312.20. The trade was a 30.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Casey’s General Stores Stock Up 0.4%

Casey’s General Stores stock opened at $561.40 on Friday. Casey’s General Stores, Inc. has a 1-year low of $363.00 and a 1-year high of $571.57. The business has a fifty day moving average price of $525.61 and a 200-day moving average price of $486.86. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.03 and a quick ratio of 0.61. The stock has a market capitalization of $20.87 billion, a price-to-earnings ratio of 36.03 and a beta of 0.68.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Monday, September 8th. The company reported $5.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.02 by $0.75. Casey’s General Stores had a return on equity of 16.73% and a net margin of 3.54%.The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.47 billion. During the same period in the prior year, the company posted $4.83 EPS. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. Equities research analysts forecast that Casey’s General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Saturday, November 1st will be issued a dividend of $0.57 per share. The ex-dividend date is Friday, October 31st. This represents a $2.28 annualized dividend and a dividend yield of 0.4%. Casey’s General Stores’s dividend payout ratio is 14.63%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Samlyn Capital LLC grew its stake in shares of Casey’s General Stores by 42.8% during the 1st quarter. Samlyn Capital LLC now owns 255,659 shares of the company’s stock worth $110,966,000 after purchasing an additional 76,673 shares during the period. Security National Bank grew its position in Casey’s General Stores by 9.7% during the first quarter. Security National Bank now owns 5,674 shares of the company’s stock valued at $2,463,000 after buying an additional 504 shares during the period. Cornerstone Wealth Management LLC acquired a new stake in Casey’s General Stores during the first quarter valued at $201,000. M&T Bank Corp increased its holdings in Casey’s General Stores by 39.6% in the first quarter. M&T Bank Corp now owns 2,515 shares of the company’s stock valued at $1,092,000 after buying an additional 713 shares in the last quarter. Finally, Ground Swell Capital LLC acquired a new position in shares of Casey’s General Stores in the first quarter worth about $338,000. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Casey’s General Stores from $540.00 to $580.00 and gave the stock an “overweight” rating in a research note on Monday, September 8th. BMO Capital Markets raised their price target on shares of Casey’s General Stores from $515.00 to $540.00 and gave the stock a “market perform” rating in a report on Wednesday, September 10th. Wall Street Zen upgraded shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. Evercore ISI boosted their price objective on shares of Casey’s General Stores from $560.00 to $580.00 and gave the company an “outperform” rating in a report on Wednesday, September 10th. Finally, Jefferies Financial Group raised their target price on Casey’s General Stores from $575.00 to $600.00 and gave the stock a “buy” rating in a research note on Tuesday, September 9th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $529.10.

Casey’s General Stores Company Profile

Casey’s General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.