Mike Spanos Buys 267 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY) Stock

Casey’s General Stores, Inc. (NASDAQ:CASY) Director Mike Spanos acquired 267 shares of Casey’s General Stores stock in a transaction dated Wednesday, September 18th. The stock was purchased at an average cost of $376.18 per share, for a total transaction of $100,440.06. Following the completion of the purchase, the director now directly owns 2,594 shares in the company, valued at $975,810.92. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

Casey’s General Stores Trading Up 0.8 %

Shares of CASY opened at $368.00 on Friday. Casey’s General Stores, Inc. has a one year low of $260.13 and a one year high of $401.07. The stock has a 50-day moving average price of $374.29 and a 200 day moving average price of $347.71. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.44 and a current ratio of 0.84. The company 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 released its earnings results on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, beating the consensus estimate of $4.54 by $0.29. The company had revenue of $4.10 billion during 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 business’s revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the business posted $4.52 EPS. Sell-side analysts forecast that Casey’s General Stores, Inc. will post 14.15 EPS for the current fiscal year.

Casey’s General Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend 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 currently 14.89%.

Analyst Ratings Changes

A number of brokerages have weighed in on CASY. BMO Capital Markets lifted their price target on shares of Casey’s General Stores from $305.00 to $400.00 and gave the company a “market perform” rating in a research report on Thursday, June 13th. Jefferies Financial Group upped their price target on shares of Casey’s General Stores from $342.00 to $445.00 and gave the stock a “buy” rating in a research report on Wednesday, June 12th. Benchmark reissued a “buy” rating and issued a $410.00 price objective on shares of Casey’s General Stores in a research report on Tuesday, September 10th. Royal Bank of Canada upped their target price on Casey’s General Stores from $393.00 to $403.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 5th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Casey’s General Stores from $420.00 to $444.00 and gave the company a “buy” rating in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Casey’s General Stores currently has a consensus rating of “Moderate Buy” and an average target price of $404.90.

Institutional Investors Weigh In On Casey’s General Stores

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new position in Casey’s General Stores in the fourth quarter worth about $115,799,000. Congress Asset Management Co. MA bought a new position in Casey’s General Stores during the 1st quarter worth approximately $112,081,000. Point72 Asset Management L.P. grew its position in shares of Casey’s General Stores by 561.7% in the 4th quarter. Point72 Asset Management L.P. now owns 273,168 shares of the company’s stock worth $75,050,000 after acquiring an additional 231,887 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Casey’s General Stores by 3,846.1% in the 2nd quarter. Millennium Management LLC now owns 172,320 shares of the company’s stock valued at $65,750,000 after acquiring an additional 176,920 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Casey’s General Stores by 113.0% during the 1st quarter. Principal Financial Group Inc. now owns 291,838 shares of the company’s stock valued at $92,936,000 after acquiring an additional 154,803 shares in the last quarter. Institutional investors own 85.63% of the company’s stock.

About Casey’s General Stores

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.