Allison M. Wing Sells 1,000 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY) Stock

Casey’s General Stores, Inc. (NASDAQ:CASY) Director Allison M. Wing sold 1,000 shares of Casey’s General Stores stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $502.16, for a total transaction of $502,160.00. Following the completion of the sale, the director now owns 3,058 shares in the company, valued at approximately $1,535,605.28. This represents a 24.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Casey’s General Stores Stock Performance

Shares of CASY opened at $506.16 on Friday. The firm’s 50 day moving average is $453.67 and its 200-day moving average is $426.39. The stock has a market capitalization of $18.79 billion, a P/E ratio of 35.27, a P/E/G ratio of 2.40 and a beta of 0.65. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.49. Casey’s General Stores, Inc. has a 12-month low of $350.52 and a 12-month high of $512.88.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Monday, June 9th. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.69. The company had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.95 billion. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The business’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.34 EPS. Equities research analysts anticipate that Casey’s General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be paid a $0.57 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a $2.28 annualized dividend and a dividend yield of 0.45%. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.50. Casey’s General Stores’s payout ratio is currently 15.57%.

Analysts Set New Price Targets

Several analysts recently weighed in on CASY shares. Wells Fargo & Company lifted their price objective on shares of Casey’s General Stores from $460.00 to $540.00 and gave the company an “overweight” rating in a research report on Wednesday. BMO Capital Markets lifted their price objective on shares of Casey’s General Stores from $450.00 to $515.00 and gave the company a “market perform” rating in a research report on Wednesday. Royal Bank of Canada set a $438.00 price objective on shares of Casey’s General Stores and gave the company a “sector perform” rating in a research report on Wednesday, March 12th. The Goldman Sachs Group lifted their price objective on shares of Casey’s General Stores from $385.00 to $450.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Stephens reiterated an “overweight” rating and issued a $490.00 price objective on shares of Casey’s General Stores in a research report on Tuesday, June 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $453.00.

Hedge Funds Weigh In On Casey’s General Stores

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Casey’s General Stores by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 3,799,104 shares of the company’s stock worth $1,505,319,000 after purchasing an additional 44,295 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of Casey’s General Stores by 1.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,776,323 shares of the company’s stock worth $703,833,000 after acquiring an additional 31,131 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Casey’s General Stores by 190.6% in the first quarter. Wellington Management Group LLP now owns 1,244,311 shares of the company’s stock worth $540,081,000 after acquiring an additional 816,110 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Casey’s General Stores by 42.0% in the first quarter. JPMorgan Chase & Co. now owns 1,036,426 shares of the company’s stock worth $449,851,000 after acquiring an additional 306,628 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Casey’s General Stores by 29.5% in the fourth quarter. Franklin Resources Inc. now owns 678,778 shares of the company’s stock worth $268,952,000 after acquiring an additional 154,541 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

About Casey’s General Stores

Casey’s General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.