Casey’s General Stores (NASDAQ:CASY) Director Mike Spanos Buys 256 Shares of Stock

Casey’s General Stores, Inc. (NASDAQ:CASY) Director Mike Spanos acquired 256 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The stock was purchased at an average cost of $778.81 per share, with a total value of $199,375.36. Following the completion of the purchase, the director directly owned 4,758 shares in the company, valued at $3,705,577.98. This represents a 5.69% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Casey’s General Stores Stock Up 0.2%

CASY opened at $780.24 on Tuesday. The business’s fifty day moving average is $819.20 and its two-hundred day moving average is $706.89. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 1.01. The company has a market cap of $28.87 billion, a price-to-earnings ratio of 40.72, a PEG ratio of 2.34 and a beta of 0.61. Casey’s General Stores, Inc. has a one year low of $490.00 and a one year high of $927.85.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $1.06. The business had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.33 billion. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The business’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter last year, the business posted $2.63 earnings per share. Analysts anticipate that Casey’s General Stores, Inc. will post 21.05 EPS for the current fiscal year.

Casey’s General Stores Increases Dividend

The firm 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 $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, July 31st. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.57. Casey’s General Stores’s dividend payout ratio is currently 13.57%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. The Goldman Sachs Group upped their target price on Casey’s General Stores from $695.00 to $795.00 and gave the company a “neutral” rating in a research note on Thursday. Jefferies Financial Group boosted their price target on Casey’s General Stores from $700.00 to $780.00 and gave the stock a “buy” rating in a report on Tuesday, March 10th. Capital One Financial initiated coverage on Casey’s General Stores in a research report on Monday, June 22nd. They issued an “equal weight” rating and a $896.00 price objective on the stock. Wall Street Zen upgraded shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $1,069.00 price target on shares of Casey’s General Stores in a research note on Thursday, June 11th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $939.29.

Institutional Investors Weigh In On Casey’s General Stores

Several hedge funds have recently made changes to their positions in the business. Foster Dykema Cabot & Partners LLC acquired a new position in Casey’s General Stores in the third quarter valued at $25,000. Whipplewood Advisors LLC purchased a new stake in Casey’s General Stores in the 1st quarter valued at about $33,000. True Wealth Design LLC increased its stake in shares of Casey’s General Stores by 350.0% during the 4th quarter. True Wealth Design LLC now owns 54 shares of the company’s stock valued at $30,000 after acquiring an additional 42 shares during the last quarter. Central Pacific Bank Trust Division increased its stake in shares of Casey’s General Stores by 52.8% during the 4th quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock valued at $30,000 after acquiring an additional 19 shares during the last quarter. Finally, RMG Wealth Management LLC lifted its holdings in shares of Casey’s General Stores by 250.0% during the 1st quarter. RMG Wealth Management LLC now owns 56 shares of the company’s stock worth $41,000 after acquiring an additional 40 shares during the period. Institutional investors and hedge funds own 85.63% of the company’s stock.

About Casey’s General Stores

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.