Casey’s General Stores (NASDAQ:CASY) Insider Chad Michael Frazell Sells 3,487 Shares

Casey’s General Stores, Inc. (NASDAQ:CASY) insider Chad Michael Frazell sold 3,487 shares of the firm’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $555.40, for a total value of $1,936,679.80. Following the completion of the sale, the insider directly owned 7,993 shares of the company’s stock, valued at approximately $4,439,312.20. This trade represents a 30.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Casey’s General Stores Stock Performance

NASDAQ:CASY opened at $565.32 on Wednesday. The firm’s fifty day simple moving average is $524.20 and its 200-day simple moving average is $485.23. The company has a quick ratio of 0.61, a current ratio of 1.03 and a debt-to-equity ratio of 0.65. The stock has a market cap of $21.02 billion, a PE ratio of 36.29 and a beta of 0.66. Casey’s General Stores, Inc. has a fifty-two week low of $363.00 and a fifty-two week high of $571.57.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Monday, September 8th. The company reported $5.77 EPS for the quarter, beating the consensus estimate of $5.02 by $0.75. Casey’s General Stores had a net margin of 3.54% and a return on equity of 16.73%. The firm had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.47 billion. During the same quarter last year, the business earned $4.83 earnings per share. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. Analysts expect that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Saturday, November 1st will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Friday, October 31st. Casey’s General Stores’s dividend payout ratio (DPR) is presently 14.63%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC increased its stake in Casey’s General Stores by 5.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,875 shares of the company’s stock valued at $1,139,000 after purchasing an additional 161 shares during the last quarter. Versant Capital Management Inc purchased a new stake in Casey’s General Stores in the 1st quarter valued at about $25,000. AdvisorNet Financial Inc increased its stake in shares of Casey’s General Stores by 78.2% during the 1st quarter. AdvisorNet Financial Inc now owns 704 shares of the company’s stock valued at $306,000 after acquiring an additional 309 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its holdings in shares of Casey’s General Stores by 124.9% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 4,516 shares of the company’s stock worth $1,960,000 after acquiring an additional 2,508 shares during the period. Finally, Merit Financial Group LLC acquired a new stake in shares of Casey’s General Stores in the first quarter worth approximately $336,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Stephens reiterated an “overweight” rating and set a $530.00 target price on shares of Casey’s General Stores in a research report on Tuesday, September 9th. Wells Fargo & Company lifted their target price on shares of Casey’s General Stores from $540.00 to $580.00 and gave the stock an “overweight” rating in a research report on Monday, September 8th. Evercore ISI increased their price target on shares of Casey’s General Stores from $560.00 to $580.00 and gave the company an “outperform” rating in a research report on Wednesday, September 10th. Royal Bank Of Canada raised their price objective on shares of Casey’s General Stores from $468.00 to $542.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 9th. Finally, KeyCorp upped their target price on Casey’s General Stores from $550.00 to $575.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $529.10.

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.