Casey’s General Stores (NASDAQ:CASY) Director Buys $199,629.00 in Stock

Casey’s General Stores, Inc. (NASDAQ:CASY) Director Mike Spanos purchased 300 shares of Casey’s General Stores stock in a transaction that occurred on Friday, March 13th. The shares were bought at an average cost of $665.43 per share, with a total value of $199,629.00. Following the completion of the transaction, the director directly owned 4,499 shares of the company’s stock, valued at approximately $2,993,769.57. The trade was a 7.14% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Casey’s General Stores Stock Down 3.2%

CASY stock opened at $669.52 on Thursday. The company has a market cap of $24.75 billion, a price-to-earnings ratio of 38.43, a P/E/G ratio of 2.28 and a beta of 0.65. Casey’s General Stores, Inc. has a twelve month low of $388.68 and a twelve month high of $696.66. The business has a 50 day moving average price of $650.41 and a two-hundred day moving average price of $584.08. The company has a quick ratio of 0.64, a current ratio of 1.04 and a debt-to-equity ratio of 0.61.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Monday, March 9th. The company reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.94 by $0.55. The company had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $4.08 billion. Casey’s General Stores had a return on equity of 17.56% and a net margin of 3.83%.The business’s revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.33 EPS. Analysts anticipate that Casey’s General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 1st will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Friday, May 1st. Casey’s General Stores’s dividend payout ratio is 13.09%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CASY shares. Evercore set a $665.00 price objective on shares of Casey’s General Stores and gave the company an “outperform” rating in a research report on Tuesday, February 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Casey’s General Stores in a report on Monday, December 29th. Northcoast Research downgraded shares of Casey’s General Stores from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 21st. Wells Fargo & Company lifted their price target on Casey’s General Stores from $725.00 to $745.00 and gave the stock an “overweight” rating in a report on Tuesday, March 10th. Finally, Zacks Research downgraded Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 23rd. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $698.20.

Hedge Funds Weigh In On Casey’s General Stores

Several institutional investors and hedge funds have recently modified their holdings of the stock. Cannon Global Investment Management LLC bought a new stake in shares of Casey’s General Stores during the third quarter worth approximately $1,018,000. Advisors Capital Management LLC grew its position in shares of Casey’s General Stores by 4.4% in the third quarter. Advisors Capital Management LLC now owns 48,355 shares of the company’s stock valued at $27,336,000 after purchasing an additional 2,026 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Casey’s General Stores by 1.0% during the third quarter. Thrivent Financial for Lutherans now owns 191,156 shares of the company’s stock worth $108,065,000 after purchasing an additional 1,950 shares during the period. Franklin Resources Inc. increased its stake in shares of Casey’s General Stores by 0.3% during the second quarter. Franklin Resources Inc. now owns 708,893 shares of the company’s stock worth $361,727,000 after purchasing an additional 2,467 shares during the period. Finally, AE Wealth Management LLC lifted its holdings in Casey’s General Stores by 82.3% during the 3rd quarter. AE Wealth Management LLC now owns 2,574 shares of the company’s stock worth $1,456,000 after purchasing an additional 1,162 shares during the last quarter. 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 (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.