Mike Spanos Buys 500 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY) Stock

Casey’s General Stores, Inc. (NASDAQ:CASY) Director Mike Spanos acquired 500 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was acquired at an average price of $396.76 per share, with a total value of $198,380.00. Following the completion of the transaction, the director now directly owns 3,097 shares of the company’s stock, valued at approximately $1,228,765.72. This represents a 19.25 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Casey’s General Stores Trading Down 0.4 %

Shares of CASY stock opened at $403.98 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.44 and a debt-to-equity ratio of 0.74. Casey’s General Stores, Inc. has a twelve month low of $268.07 and a twelve month high of $439.68. The company’s 50-day moving average price is $409.49 and its 200-day moving average price is $387.35. The stock has a market cap of $14.99 billion, a price-to-earnings ratio of 28.15 and a beta of 0.80.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Monday, December 9th. The company reported $4.85 earnings per share for the quarter, beating the consensus estimate of $4.29 by $0.56. The company had revenue of $3.95 billion for the quarter, compared to analyst estimates of $4.03 billion. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. Casey’s General Stores’s revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the business posted $4.24 EPS. As a group, equities analysts predict that Casey’s General Stores, Inc. will post 14.28 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 17th. Shareholders of record on Monday, February 3rd will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.00 dividend on an annualized basis and a yield of 0.50%. Casey’s General Stores’s dividend payout ratio is currently 13.94%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CASY shares. Gordon Haskett began coverage on shares of Casey’s General Stores in a report on Monday, November 4th. They issued a “hold” rating and a $400.00 price target for the company. Benchmark reissued a “buy” rating and set a $410.00 target price on shares of Casey’s General Stores in a research note on Tuesday, September 10th. Wells Fargo & Company raised their price target on shares of Casey’s General Stores from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Melius Research initiated coverage on Casey’s General Stores in a research note on Monday, September 23rd. They set a “buy” rating and a $435.00 price objective for the company. Finally, Royal Bank of Canada raised their target price on Casey’s General Stores from $403.00 to $428.00 and gave the company a “sector perform” rating in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $424.00.

Hedge Funds Weigh In On Casey’s General Stores

Hedge funds have recently modified their holdings of the business. FMR LLC lifted its position in Casey’s General Stores by 3.8% in the third quarter. FMR LLC now owns 1,046,830 shares of the company’s stock valued at $393,305,000 after buying an additional 38,226 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Casey’s General Stores by 18.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company’s stock valued at $285,090,000 after acquiring an additional 119,350 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Casey’s General Stores by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 655,488 shares of the company’s stock worth $246,335,000 after acquiring an additional 8,428 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Casey’s General Stores by 49.9% in the 3rd quarter. Franklin Resources Inc. now owns 524,237 shares of the company’s stock worth $204,861,000 after acquiring an additional 174,586 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Casey’s General Stores by 3.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 468,650 shares of the company’s stock worth $178,822,000 after purchasing an additional 14,750 shares during the period. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

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.