Insider Selling: Casey’s General Stores, Inc. (NASDAQ:CASY) Insider Sells 6,600 Shares of Stock

Casey’s General Stores, Inc. (NASDAQ:CASY) insider Thomas P. Brennan, Jr. sold 6,600 shares of the firm’s stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $506.03, for a total value of $3,339,798.00. Following the completion of the transaction, the insider now owns 2,100 shares of the company’s stock, valued at approximately $1,062,663. The trade was a 75.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Casey’s General Stores Stock Down 1.2%

Shares of NASDAQ:CASY opened at $500.27 on Friday. The company has a market cap of $18.57 billion, a price-to-earnings ratio of 34.17, a PEG ratio of 2.53 and a beta of 0.65. Casey’s General Stores, Inc. has a 12 month low of $350.52 and a 12 month high of $512.88. The company has a current ratio of 0.92, a quick ratio of 0.48 and a debt-to-equity ratio of 0.69. The company has a 50-day moving average price of $460.38 and a 200 day moving average price of $429.29.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Monday, June 9th. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.69. Casey’s General Stores had a return on equity of 16.28% and a net margin of 3.43%. The firm had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.95 billion. During the same quarter in the previous year, the business earned $2.34 EPS. The company’s quarterly revenue was up 10.9% on a year-over-year basis. As a group, equities research analysts predict that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey’s General Stores Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Friday, August 1st. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.50. Casey’s General Stores’s dividend payout ratio (DPR) is 13.66%.

Hedge Funds Weigh In On Casey’s General Stores

A number of large investors have recently made changes to their positions in CASY. Flagship Harbor Advisors LLC lifted its stake in Casey’s General Stores by 4.1% in the first quarter. Flagship Harbor Advisors LLC now owns 590 shares of the company’s stock worth $256,000 after purchasing an additional 23 shares during the last quarter. HighPoint Advisor Group LLC raised its holdings in shares of Casey’s General Stores by 1.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 1,468 shares of the company’s stock worth $628,000 after buying an additional 25 shares during the period. Burns J W & Co. Inc. NY lifted its stake in shares of Casey’s General Stores by 2.1% during the 1st quarter. Burns J W & Co. Inc. NY now owns 1,204 shares of the company’s stock worth $522,000 after acquiring an additional 25 shares during the last quarter. Sunbelt Securities Inc. grew its position in Casey’s General Stores by 1.4% in the 1st quarter. Sunbelt Securities Inc. now owns 1,870 shares of the company’s stock valued at $812,000 after acquiring an additional 26 shares during the last quarter. Finally, Iron Horse Wealth Management LLC increased its stake in Casey’s General Stores by 40.0% in the first quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company’s stock worth $40,000 after purchasing an additional 26 shares during the period. 85.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CASY has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of Casey’s General Stores from $460.00 to $540.00 and gave the company an “overweight” rating in a report on Wednesday, June 11th. Stephens reiterated an “overweight” rating and set a $490.00 target price on shares of Casey’s General Stores in a research note on Tuesday, June 10th. BMO Capital Markets increased their price target on Casey’s General Stores from $450.00 to $515.00 and gave the company a “market perform” rating in a report on Wednesday, June 11th. Evercore ISI lifted their price objective on Casey’s General Stores from $450.00 to $460.00 and gave the stock an “outperform” rating in a report on Tuesday, April 1st. Finally, Royal Bank Of Canada set a $438.00 price objective on Casey’s General Stores and gave the company a “sector perform” rating in a research report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Casey’s General Stores presently has a consensus rating of “Moderate Buy” and an average target price of $453.00.

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.