Casey’s General Stores (NASDAQ:CASY) CFO Stephen Bramlage, Jr. Sells 5,700 Shares of Stock

Casey’s General Stores, Inc. (NASDAQ:CASY) CFO Stephen Bramlage, Jr. sold 5,700 shares of the company’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $838.16, for a total value of $4,777,512.00. Following the transaction, the chief financial officer directly owned 29,677 shares of the company’s stock, valued at $24,874,074.32. The trade was a 16.11% decrease 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 Up 0.2%

Shares of CASY stock traded up $1.36 during trading hours on Friday, reaching $823.36. The company’s stock had a trading volume of 115,866 shares, compared to its average volume of 544,203. The company has a current ratio of 1.01, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. Casey’s General Stores, Inc. has a one year low of $490.00 and a one year high of $927.85. The stock has a market capitalization of $30.47 billion, a P/E ratio of 42.95, a P/E/G ratio of 2.53 and a beta of 0.62. The firm’s fifty day simple moving average is $822.83 and its 200 day simple moving average is $721.48.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $1.06. The company had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.33 billion. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The firm’s revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.63 earnings per share. Equities research analysts expect that Casey’s General Stores, Inc. will post 21.14 EPS for the current year.

Casey’s General Stores Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Saturday, August 1st will be given a $0.65 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $2.60 annualized dividend and a dividend yield of 0.3%. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.57. Casey’s General Stores’s dividend payout ratio is currently 11.90%.

Institutional Investors Weigh In On Casey’s General Stores

Several hedge funds have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC raised its stake in shares of Casey’s General Stores by 6.4% in the first quarter. NewEdge Advisors LLC now owns 1,871 shares of the company’s stock worth $812,000 after purchasing an additional 113 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Casey’s General Stores by 129.6% during the first quarter. Geneos Wealth Management Inc. now owns 186 shares of the company’s stock valued at $81,000 after buying an additional 105 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Casey’s General Stores by 431.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company’s stock worth $111,000 after buying an additional 177 shares in the last quarter. Amundi bought a new stake in Casey’s General Stores in the 2nd quarter worth about $338,000. Finally, Jump Financial LLC raised its position in Casey’s General Stores by 42.6% in the 2nd quarter. Jump Financial LLC now owns 968 shares of the company’s stock worth $494,000 after buying an additional 289 shares during the last quarter. 85.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CASY shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,000.00 price target on shares of Casey’s General Stores in a research report on Monday, June 15th. JPMorgan Chase & Co. raised their price objective on Casey’s General Stores from $719.00 to $975.00 and gave the company a “neutral” rating in a research report on Friday, June 12th. William Blair started coverage on shares of Casey’s General Stores in a report on Wednesday, May 20th. They set an “outperform” rating on the stock. Wolfe Research reiterated an “outperform” rating and issued a $1,069.00 price target on shares of Casey’s General Stores in a research note on Thursday, June 11th. Finally, The Goldman Sachs Group lifted their price target on shares of Casey’s General Stores from $695.00 to $795.00 and gave the company a “neutral” rating in a research report on Thursday, June 25th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $939.29.

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.