Casey’s General Stores (NASDAQ:CASY) Stock: Insider Thomas Brennan, Jr. Sells 3,000 Shares

Casey’s General Stores, Inc. (NASDAQ:CASY) insider Thomas Brennan, Jr. sold 3,000 shares of the company’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $786.53, for a total transaction of $2,359,590.00. Following the transaction, the insider owned 11,171 shares of the company’s stock, valued at $8,786,326.63. This represents a 21.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Casey’s General Stores Stock Performance

Shares of CASY stock traded up $9.45 during trading hours on Wednesday, reaching $674.84. The stock had a trading volume of 560,048 shares, compared to its average volume of 520,547. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.61. Casey’s General Stores, Inc. has a twelve month low of $513.10 and a twelve month high of $927.85. The firm has a 50-day simple moving average of $665.52 and a 200-day simple moving average of $740.30. The firm has a market capitalization of $24.94 billion, a PE ratio of 32.51, a price-to-earnings-growth ratio of 2.16 and a beta of 0.59.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Tuesday, September 8th. The company reported $7.37 earnings per share for the quarter, beating the consensus estimate of $6.78 by $0.59. The firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.56 billion. Casey’s General Stores had a net margin of 4.14% and a return on equity of 19.68%. Casey’s General Stores’s quarterly revenue was up 24.3% compared to the same quarter last year. During the same period last year, the firm posted $5.77 EPS. As a group, equities analysts forecast that Casey’s General Stores, Inc. will post 21.61 earnings per share for the current year.

Casey’s General Stores Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Sunday, November 1st will be paid a $0.65 dividend. The ex-dividend date is Friday, October 30th. This represents a $2.60 annualized dividend and a dividend yield of 0.4%. Casey’s General Stores’s dividend payout ratio (DPR) is presently 12.52%.

Hedge Funds Weigh In On Casey’s General Stores

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of Casey’s General Stores in the 2nd quarter worth approximately $2,759,895,000. Bank of America Corp DE bought a new position in shares of Casey’s General Stores in the second quarter valued at approximately $281,872,000. Bank of New York Mellon Corp acquired a new position in shares of Casey’s General Stores during the second quarter valued at approximately $281,011,000. Jupiter Topco LLC acquired a new position in shares of Casey’s General Stores during the second quarter valued at approximately $246,982,000. Finally, Principal Financial Group Inc. increased its stake in shares of Casey’s General Stores by 2.1% during the first quarter. Principal Financial Group Inc. now owns 252,374 shares of the company’s stock valued at $183,693,000 after acquiring an additional 5,294 shares during the period. Institutional investors own 85.63% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CASY shares. KeyCorp reduced their price objective on Casey’s General Stores from $970.00 to $780.00 and set an “overweight” rating for the company in a research report on Thursday, September 10th. Stephens set a $750.00 target price on Casey’s General Stores in a research report on Thursday, September 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Casey’s General Stores in a research note on Monday, October 19th. The Goldman Sachs Group set a $750.00 target price on Casey’s General Stores in a research note on Wednesday, September 9th. Finally, Wall Street Zen lowered Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Saturday, September 12th. Sixteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Casey’s General Stores presently has an average rating of “Moderate Buy” and an average target price of $835.38.

Casey’s General Stores Company Profile

Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.