Casey’s General Stores (NASDAQ:CASY) CEO Darren Rebelez Sells 19,000 Shares of Stock

Casey’s General Stores, Inc. (NASDAQ:CASY) CEO Darren Rebelez sold 19,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $801.46, for a total transaction of $15,227,740.00. Following the sale, the chief executive officer owned 89,174 shares of the company’s stock, valued at $71,469,394.04. This trade represents a 17.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Casey’s General Stores Stock Performance

Shares of CASY traded down $21.10 during midday trading on Thursday, reaching $822.00. 377,351 shares of the stock were exchanged, compared to its average volume of 547,589. The stock’s 50 day simple moving average is $822.09 and its 200 day simple moving average is $719.63. The company has a market cap of $30.42 billion, a P/E ratio of 42.90, a PEG ratio of 2.40 and a beta of 0.62. Casey’s General Stores, Inc. has a twelve month low of $490.00 and a twelve month high of $927.85. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, topping the consensus estimate of $3.31 by $1.06. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The company had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.33 billion. During the same period last year, the firm earned $2.63 earnings per share. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, sell-side analysts expect that Casey’s General Stores, Inc. will post 21.14 earnings per share for the current year.

Casey’s General Stores Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Saturday, August 1st will be paid a dividend of $0.65 per share. The ex-dividend date is Friday, July 31st. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.57. This represents a $2.60 dividend on an annualized basis and a yield of 0.3%. Casey’s General Stores’s dividend payout ratio is currently 13.57%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CASY. Contravisory Investment Management Inc. lifted its position in shares of Casey’s General Stores by 2,431.2% during the 2nd quarter. Contravisory Investment Management Inc. now owns 1,215 shares of the company’s stock valued at $966,000 after acquiring an additional 1,167 shares during the period. Everhart Financial Group Inc. grew its holdings in Casey’s General Stores by 14.0% in the second quarter. Everhart Financial Group Inc. now owns 366 shares of the company’s stock worth $291,000 after purchasing an additional 45 shares during the period. Valeo Financial Advisors LLC increased its stake in Casey’s General Stores by 20.9% in the second quarter. Valeo Financial Advisors LLC now owns 566 shares of the company’s stock valued at $450,000 after purchasing an additional 98 shares in the last quarter. Czech National Bank bought a new stake in Casey’s General Stores in the second quarter valued at $8,361,000. Finally, PensionDanmark Pensionsforsikringsaktieselskab acquired a new position in shares of Casey’s General Stores during the second quarter valued at about $636,000. Institutional investors own 85.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Stephens set a $975.00 target price on Casey’s General Stores and gave the stock an “overweight” rating in a research note on Friday, June 12th. Zacks Research lowered shares of Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. UBS Group upped their price objective on shares of Casey’s General Stores from $805.00 to $945.00 and gave the stock a “neutral” rating in a research report on Thursday, June 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Casey’s General Stores in a research note on Wednesday, June 24th. Finally, JPMorgan Chase & Co. raised their target price on shares of Casey’s General Stores from $719.00 to $975.00 and gave the company a “neutral” rating in a research report on Friday, June 12th. Thirteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $939.29.

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.