Casey’s General Stores, Inc. (NASDAQ:CASY) Director Mike Spanos Acquires 500 Shares

Casey’s General Stores, Inc. (NASDAQ:CASY) Director Mike Spanos acquired 500 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were bought at an average cost of $396.76 per share, with a total value of $198,380.00. Following the transaction, the director now directly owns 3,097 shares of the company’s stock, valued at $1,228,765.72. The trade was a 19.25 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

Casey’s General Stores Price Performance

Casey’s General Stores stock traded up $2.08 during trading hours on Thursday, hitting $405.75. 137,606 shares of the stock were exchanged, compared to its average volume of 266,362. The stock has a market capitalization of $15.06 billion, a P/E ratio of 28.28 and a beta of 0.80. The business’s 50-day moving average is $408.85 and its two-hundred day moving average is $386.27. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.44 and a current ratio of 0.88. Casey’s General Stores, Inc. has a 12 month low of $268.07 and a 12 month high of $439.68.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Monday, December 9th. The company reported $4.85 earnings per share for the quarter, beating analysts’ consensus estimates of $4.29 by $0.56. The firm had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $4.03 billion. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The business’s revenue was down 2.9% on a year-over-year basis. During the same period last year, the firm posted $4.24 EPS. Equities research analysts expect that Casey’s General Stores, Inc. will post 14.28 EPS for the current fiscal year.

Casey’s General Stores Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 17th. Investors of record on Monday, February 3rd will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.00 annualized dividend and a yield of 0.49%. Casey’s General Stores’s dividend payout ratio (DPR) is 13.94%.

Institutional Investors Weigh In On Casey’s General Stores

A number of hedge funds have recently added to or reduced their stakes in CASY. FMR LLC lifted its position in shares of Casey’s General Stores by 3.8% during the third quarter. FMR LLC now owns 1,046,830 shares of the company’s stock worth $393,305,000 after purchasing an additional 38,226 shares in the last quarter. Geode Capital Management LLC boosted its position in Casey’s General Stores by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 655,488 shares of the company’s stock valued at $246,335,000 after buying an additional 8,428 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Casey’s General Stores by 49.9% in the 3rd quarter. Franklin Resources Inc. now owns 524,237 shares of the company’s stock valued at $204,861,000 after buying an additional 174,586 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Casey’s General Stores by 3.2% during the second quarter. Dimensional Fund Advisors LP now owns 468,650 shares of the company’s stock worth $178,822,000 after acquiring an additional 14,750 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Casey’s General Stores by 20.4% during the second quarter. Envestnet Asset Management Inc. now owns 458,044 shares of the company’s stock valued at $174,771,000 after acquiring an additional 77,515 shares during the period. Institutional investors own 85.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CASY shares. Gordon Haskett started coverage on Casey’s General Stores in a report on Monday, November 4th. They issued a “hold” rating and a $400.00 price target for the company. BMO Capital Markets restated a “market perform” rating and issued a $450.00 target price (up from $400.00) on shares of Casey’s General Stores in a research note on Wednesday, December 18th. JPMorgan Chase & Co. cut Casey’s General Stores from a “neutral” rating to an “underweight” rating and raised their target price for the stock from $300.00 to $337.00 in a research report on Thursday, September 19th. Benchmark reissued a “buy” rating and issued a $410.00 price target on shares of Casey’s General Stores in a report on Tuesday, September 10th. Finally, Royal Bank of Canada raised their price objective on shares of Casey’s General Stores from $403.00 to $428.00 and gave the stock a “sector perform” rating in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $424.00.

Casey’s General Stores Company Profile

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.