Insider Selling: Casey’s General Stores (NASDAQ:CASY) Insider Sells $1,600,000.00 in Stock

Casey’s General Stores, Inc. (NASDAQ:CASY) insider Katrina Lindsey sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $800.00, for a total value of $1,600,000.00. Following the transaction, the insider owned 6,668 shares of the company’s stock, valued at $5,334,400. This represents a 23.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Casey’s General Stores Stock Up 1.7%

CASY stock opened at $797.42 on Friday. The firm’s 50-day simple moving average is $820.63 and its 200 day simple moving average is $712.25. Casey’s General Stores, Inc. has a fifty-two week low of $490.00 and a fifty-two week high of $927.85. The stock has a market cap of $29.51 billion, a PE ratio of 41.62, a price-to-earnings-growth ratio of 2.36 and a beta of 0.62. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $1.06. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The company had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.33 billion. During the same quarter in the previous year, the company posted $2.63 earnings per share. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, sell-side analysts predict that Casey’s General Stores, Inc. will post 21.05 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. Investors of record on Saturday, August 1st will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, July 31st. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.57. This represents a $2.60 annualized dividend and a yield of 0.3%. Casey’s General Stores’s dividend payout ratio is presently 13.57%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CASY shares. JPMorgan Chase & Co. raised their target price on shares of Casey’s General Stores from $719.00 to $975.00 and gave the stock a “neutral” rating in a report on Friday, June 12th. Royal Bank Of Canada boosted their price objective on Casey’s General Stores from $794.00 to $850.00 and gave the stock a “sector perform” rating in a report on Thursday, June 25th. Morgan Stanley upgraded Casey’s General Stores to a “buy” rating in a report on Wednesday, June 10th. Wall Street Zen raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Finally, Stephens set a $975.00 target price on shares of Casey’s General Stores and gave the stock an “overweight” rating in a report on Friday, June 12th. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Casey’s General Stores presently has a consensus rating of “Moderate Buy” and a consensus price target of $939.29.

Institutional Investors Weigh In On Casey’s General Stores

Large investors have recently made changes to their positions in the company. Foster Dykema Cabot & Partners LLC bought a new stake in Casey’s General Stores in the third quarter worth $25,000. Central Pacific Bank Trust Division increased its position in Casey’s General Stores by 52.8% in the 4th quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock worth $30,000 after buying an additional 19 shares during the period. True Wealth Design LLC raised its stake in Casey’s General Stores by 350.0% during the 4th quarter. True Wealth Design LLC now owns 54 shares of the company’s stock valued at $30,000 after purchasing an additional 42 shares during the last quarter. Whipplewood Advisors LLC acquired a new position in shares of Casey’s General Stores during the first quarter valued at about $33,000. Finally, ORG Partners LLC lifted its position in shares of Casey’s General Stores by 47.6% in the 4th quarter. ORG Partners LLC now owns 62 shares of the company’s stock worth $34,000 after acquiring an additional 20 shares during the period. Institutional investors own 85.63% of the company’s stock.

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.