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

Casey’s General Stores, Inc. (NASDAQ:CASY) insider Thomas P. Brennan, Jr. sold 3,000 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $380.24, for a total value of $1,140,720.00. Following the transaction, the insider now owns 9,044 shares in the company, valued at $3,438,890.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Casey’s General Stores Stock Performance

CASY stock traded up $7.94 during mid-day trading on Tuesday, reaching $374.91. The company had a trading volume of 264,153 shares, compared to its average volume of 282,963. Casey’s General Stores, Inc. has a one year low of $238.44 and a one year high of $401.07. The stock’s 50-day simple moving average is $373.37 and its two-hundred day simple moving average is $343.44. The company has a quick ratio of 0.44, a current ratio of 0.84 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $13.92 billion, a P/E ratio of 27.42, a P/E/G ratio of 2.71 and a beta of 0.80.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Wednesday, September 4th. The company reported $4.83 earnings per share for the quarter, beating analysts’ consensus estimates of $4.54 by $0.29. The business had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.15 billion. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. The company’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the business earned $4.52 earnings per share. Research analysts anticipate that Casey’s General Stores, Inc. will post 13.45 EPS for the current year.

Casey’s General Stores Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date is Friday, November 1st. Casey’s General Stores’s payout ratio is currently 14.89%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Evercore ISI raised their price objective on Casey’s General Stores from $410.00 to $435.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Wells Fargo & Company raised their price objective on Casey’s General Stores from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Friday. StockNews.com cut Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 3rd. Royal Bank of Canada raised their price objective on Casey’s General Stores from $393.00 to $403.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. raised their price objective on Casey’s General Stores from $298.00 to $300.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $401.20.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CASY. Rise Advisors LLC purchased a new position in Casey’s General Stores in the 1st quarter worth about $30,000. Park Place Capital Corp purchased a new position in Casey’s General Stores during the 2nd quarter valued at about $31,000. Advisors Asset Management Inc. purchased a new position in Casey’s General Stores during the 1st quarter valued at about $32,000. Innealta Capital LLC acquired a new stake in shares of Casey’s General Stores during the 2nd quarter valued at about $32,000. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Casey’s General Stores during the 4th quarter valued at about $35,000. 85.63% of the stock is owned by institutional investors and hedge funds.

About Casey’s General Stores

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.