Insider Buying: Casey’s General Stores, Inc. (NASDAQ:CASY) Director Buys 267 Shares of Stock

Casey’s General Stores, Inc. (NASDAQ:CASY) Director Mike Spanos purchased 267 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were 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 of the company’s stock, valued at approximately $975,810.92. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Casey’s General Stores Stock Up 0.8 %

Shares of Casey’s General Stores stock opened at $368.00 on Monday. The firm has a market cap of $13.66 billion, a price-to-earnings ratio of 27.40, a PEG ratio of 2.58 and a beta of 0.80. The stock’s 50-day moving average is $374.29 and its 200 day moving average is $348.04. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.84 and a quick ratio of 0.44. Casey’s General Stores, Inc. has a one year low of $260.13 and a one year high of $401.07.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.54 by $0.29. The firm had revenue of $4.10 billion for 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 company’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the prior year, the business earned $4.52 EPS. Equities research analysts anticipate that Casey’s General Stores, Inc. will post 14.15 EPS for the current year.

Casey’s General Stores Dividend Announcement

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

Hedge Funds Weigh In On Casey’s General Stores

Institutional investors have recently made changes to their positions in the stock. Rise Advisors LLC acquired a new stake in shares of Casey’s General Stores in the 1st quarter valued at about $30,000. Park Place Capital Corp bought a new position in Casey’s General Stores in the second quarter worth approximately $31,000. Advisors Asset Management Inc. acquired a new stake in Casey’s General Stores in the first quarter valued at approximately $32,000. Innealta Capital LLC bought a new stake in shares of Casey’s General Stores during the second quarter valued at approximately $32,000. Finally, V Square Quantitative Management LLC bought a new stake in shares of Casey’s General Stores during the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on CASY. Evercore ISI lifted their target price on shares of Casey’s General Stores from $410.00 to $435.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Northcoast Research upgraded shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $410.00 price target on the stock in a report on Thursday, July 11th. JPMorgan Chase & Co. downgraded Casey’s General Stores from a “neutral” rating to an “underweight” rating and increased their price objective for the company from $300.00 to $337.00 in a report on Thursday. Jefferies Financial Group lifted their target price on Casey’s General Stores from $342.00 to $445.00 and gave the stock a “buy” rating in a report on Wednesday, June 12th. Finally, Royal Bank of Canada increased their price target on 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. One 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $404.90.

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.