Chad Michael Frazell Sells 3,013 Shares of Casey’s General Stores (NASDAQ:CASY) Stock

Casey’s General Stores, Inc. (NASDAQ:CASY) insider Chad Michael Frazell sold 3,013 shares of Casey’s General Stores stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $787.49, for a total transaction of $2,372,707.37. Following the transaction, the insider owned 9,823 shares in the company, valued at $7,735,514.27. This represents a 23.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Casey’s General Stores Trading Up 1.7%

NASDAQ:CASY opened at $797.42 on Friday. Casey’s General Stores, Inc. has a one year low of $490.00 and a one year high of $927.85. The business has a fifty day moving average price of $820.63 and a 200-day moving average price of $712.25. The firm has a market capitalization of $29.51 billion, a price-to-earnings ratio of 41.62, a price-to-earnings-growth ratio of 2.36 and a beta of 0.62. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, beating the consensus estimate of $3.31 by $1.06. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.33 billion. During the same period in the previous year, the business earned $2.63 earnings per share. Casey’s General Stores’s quarterly revenue was up 14.5% compared to the same quarter last year. Sell-side analysts forecast that Casey’s General Stores, Inc. will post 21.05 EPS for the current year.

Casey’s General Stores Increases Dividend

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

Hedge Funds Weigh In On Casey’s General Stores

Institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in shares of Casey’s General Stores by 7.4% in the 4th quarter. Geode Capital Management LLC now owns 760,438 shares of the company’s stock worth $420,416,000 after buying an additional 52,250 shares in the last quarter. North Dakota State Investment Board bought a new stake in shares of Casey’s General Stores in the 4th quarter worth about $720,000. Burns J W & Co. Inc. NY raised its position in shares of Casey’s General Stores by 103.5% during the 1st quarter. Burns J W & Co. Inc. NY now owns 2,448 shares of the company’s stock valued at $1,782,000 after buying an additional 1,245 shares in the last quarter. Jackson Creek Investment Advisors LLC purchased a new stake in shares of Casey’s General Stores during the 4th quarter valued at about $1,338,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Casey’s General Stores by 2.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 140,491 shares of the company’s stock valued at $77,651,000 after acquiring an additional 3,553 shares during the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Royal Bank Of Canada raised their target price on shares of Casey’s General Stores from $794.00 to $850.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 25th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $1,000.00 price objective on shares of Casey’s General Stores in a research note on Monday, June 15th. The Goldman Sachs Group lifted their target price on shares of Casey’s General Stores from $695.00 to $795.00 and gave the company a “neutral” rating in a research note on Thursday, June 25th. Jefferies Financial Group increased their price target on Casey’s General Stores from $700.00 to $780.00 and gave the stock a “buy” rating in a research note on Tuesday, March 10th. Finally, Wells Fargo & Company raised their price target on Casey’s General Stores from $910.00 to $960.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Casey’s General Stores has a consensus 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.