Stephen P. Bramlage, Jr. Sells 8,478 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY) Stock

Casey’s General Stores, Inc. (NASDAQ:CASY) CFO Stephen P. Bramlage, Jr. sold 8,478 shares of the company’s stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $509.21, for a total value of $4,317,082.38. Following the completion of the transaction, the chief financial officer now directly owns 26,754 shares in the company, valued at approximately $13,623,404.34. The trade was a 24.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Casey’s General Stores Trading Down 0.3%

NASDAQ:CASY opened at $506.31 on Friday. The firm has a market capitalization of $18.79 billion, a price-to-earnings ratio of 34.58, a PEG ratio of 2.53 and a beta of 0.65. 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 business’s 50-day moving average price is $459.52 and its two-hundred day moving average price is $428.72. Casey’s General Stores, Inc. has a 1-year low of $350.52 and a 1-year high of $512.88.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Monday, June 9th. The company reported $2.63 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.95 billion. During the same quarter last year, the firm earned $2.34 EPS. Casey’s General Stores’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, equities analysts expect that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey’s General Stores Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 0.45%. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, August 1st. Casey’s General Stores’s dividend payout ratio (DPR) is currently 13.66%.

Wall Street Analysts Forecast Growth

CASY has been the subject of several recent analyst reports. Wells Fargo & Company increased their price target on Casey’s General Stores from $460.00 to $540.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 11th. Evercore ISI lifted their target price on Casey’s General Stores from $450.00 to $460.00 and gave the company an “outperform” rating in a research note on Tuesday, April 1st. The Goldman Sachs Group boosted their price target on Casey’s General Stores from $385.00 to $450.00 and gave the company a “neutral” rating in a research note on Wednesday, June 11th. KeyCorp boosted their target price on Casey’s General Stores from $500.00 to $550.00 and gave the stock an “overweight” rating in a report on Wednesday, June 11th. Finally, Royal Bank Of Canada set a $438.00 price target on Casey’s General Stores and gave the stock a “sector perform” rating in a report on Wednesday, March 12th. 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $453.00.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CASY. Versant Capital Management Inc bought a new position in Casey’s General Stores in the first quarter valued at approximately $25,000. Global Financial Private Client LLC grew its stake in Casey’s General Stores by 325.0% in the first quarter. Global Financial Private Client LLC now owns 68 shares of the company’s stock valued at $30,000 after purchasing an additional 52 shares in the last quarter. Summit Securities Group LLC bought a new position in Casey’s General Stores in the first quarter valued at approximately $32,000. Iron Horse Wealth Management LLC grew 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 valued at $40,000 after purchasing an additional 26 shares in the last quarter. Finally, WPG Advisers LLC bought a new position in Casey’s General Stores in the first quarter valued at approximately $47,000. 85.63% of the stock is currently owned by institutional investors.

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.