Insider Buying: Casey’s General Stores, Inc. (NASDAQ:CASY) Director Acquires $100,440.06 in Stock

Casey’s General Stores, Inc. (NASDAQ:CASY) Director Mike Spanos bought 267 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were bought at an average price of $376.18 per share, for a total transaction of $100,440.06. Following the acquisition, the director now directly owns 2,594 shares of the company’s stock, valued at approximately $975,810.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Casey’s General Stores Stock Up 0.8 %

Casey’s General Stores stock opened at $368.00 on Monday. The company’s 50-day moving average price is $374.29 and its two-hundred day moving average price is $348.04. The company has a quick ratio of 0.44, a current ratio of 0.84 and a debt-to-equity ratio of 0.44. The stock has a market cap 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, Inc. has a twelve month low of $260.13 and a twelve month high of $401.07.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share for the quarter, topping analysts’ consensus estimates of $4.54 by $0.29. The company had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.15 billion. Casey’s General Stores had a return on equity of 17.07% and a net margin of 3.40%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the company earned $4.52 earnings per share. As a group, analysts expect that Casey’s General Stores, Inc. will post 14.15 EPS for the current year.

Casey’s General Stores Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a $0.50 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.54%. Casey’s General Stores’s payout ratio is presently 14.89%.

Wall Street Analyst Weigh In

CASY has been the topic of a number of analyst reports. Northcoast Research upgraded Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $410.00 price objective on the stock in a research note on Thursday, July 11th. StockNews.com lowered shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 3rd. Royal Bank of Canada increased their price target on shares of Casey’s General Stores from $393.00 to $403.00 and gave the company a “sector perform” rating in a research note on Thursday, September 5th. BMO Capital Markets boosted their price objective on shares of Casey’s General Stores from $305.00 to $400.00 and gave the stock a “market perform” rating in a research note on Thursday, June 13th. Finally, JPMorgan Chase & Co. cut shares of Casey’s General Stores from a “neutral” rating to an “underweight” rating and upped their target price for the company from $300.00 to $337.00 in a report on Thursday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Casey’s General Stores presently has a consensus rating of “Moderate Buy” and a consensus price target of $404.90.

Hedge Funds Weigh In On Casey’s General Stores

Several institutional investors and hedge funds have recently modified their holdings of CASY. AdvisorNet Financial Inc raised its stake in Casey’s General Stores by 10.1% in the 2nd quarter. AdvisorNet Financial Inc now owns 317 shares of the company’s stock worth $121,000 after purchasing an additional 29 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in shares of Casey’s General Stores by 0.3% in the second quarter. Oppenheimer & Co. Inc. now owns 12,769 shares of the company’s stock valued at $4,872,000 after buying an additional 37 shares in the last quarter. AdvisorShares Investments LLC increased its position in shares of Casey’s General Stores by 9.3% in the fourth quarter. AdvisorShares Investments LLC now owns 469 shares of the company’s stock worth $129,000 after purchasing an additional 40 shares during the period. GAMMA Investing LLC raised its stake in Casey’s General Stores by 12.8% in the first quarter. GAMMA Investing LLC now owns 353 shares of the company’s stock valued at $112,000 after purchasing an additional 40 shares in the last quarter. Finally, Prairie Wealth Advisors Inc. lifted its position in Casey’s General Stores by 0.9% during the second quarter. Prairie Wealth Advisors Inc. now owns 4,535 shares of the company’s stock worth $1,730,000 after purchasing an additional 40 shares during the period. 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, 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.