Casey’s General Stores, Inc. (NASDAQ:CASY) Director Mike Spanos Buys 267 Shares

by · The Markets Daily

Casey’s General Stores, Inc. (NASDAQ:CASY – Get Free Report) Director Mike Spanos acquired 267 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were acquired at an average price of $376.18 per share, for a total transaction of $100,440.06. Following the purchase, the director now owns 2,594 shares of the company’s stock, valued at $975,810.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Casey’s General Stores Trading Up 0.8 %

Shares of NASDAQ:CASY opened at $368.00 on Friday. Casey’s General Stores, Inc. has a twelve month low of $260.13 and a twelve month high of $401.07. The company has a current ratio of 0.84, a quick ratio of 0.44 and a debt-to-equity ratio of 0.44. The firm has a market cap of $13.66 billion, a P/E ratio of 27.40, a P/E/G ratio of 2.58 and a beta of 0.80. The company has a 50 day moving average of $374.29 and a 200-day moving average of $347.71.

Casey’s General Stores (NASDAQ:CASY – Get Free Report) last released its earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share for the quarter, topping analysts’ consensus estimates of $4.54 by $0.29. Casey’s General Stores had a return on equity of 17.07% and a net margin of 3.40%. The firm had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same period in the prior year, the firm posted $4.52 earnings per share. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, analysts anticipate that Casey’s General Stores, Inc. will post 14.15 earnings per share for the current fiscal year.

Casey’s General Stores Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.54%. The ex-dividend date is Friday, November 1st. Casey’s General Stores’s dividend payout ratio (DPR) is presently 14.89%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CASY. Jefferies Financial Group increased their price target on Casey’s General Stores from $342.00 to $445.00 and gave the stock a “buy” rating in a research report on Wednesday, June 12th. Royal Bank of Canada boosted their price target on shares of Casey’s General Stores from $393.00 to $403.00 and gave the company a “sector perform” rating in a report on Thursday, September 5th. Evercore ISI increased their price objective on shares of Casey’s General Stores from $410.00 to $435.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. StockNews.com lowered shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Casey’s General Stores from $420.00 to $444.00 and gave the company a “buy” rating in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $404.90.

Read Our Latest Stock Report on CASY

Hedge Funds Weigh In On Casey’s General Stores

Several large investors have recently made changes to their positions in the business. Congress Asset Management Co. MA acquired a new stake in Casey’s General Stores during the first quarter valued at approximately $112,081,000. Steward Partners Investment Advisory LLC lifted its position in shares of Casey’s General Stores by 195.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,488 shares of the company’s stock valued at $958,000 after acquiring an additional 2,309 shares during the last quarter. Kapitalo Investimentos Ltda bought a new stake in shares of Casey’s General Stores during the 4th quarter worth $903,000. Azimuth Capital Investment Management LLC bought a new stake in shares of Casey’s General Stores during the 4th quarter worth $8,498,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Casey’s General Stores in the 1st quarter worth $794,000. Institutional investors own 85.63% of the company’s stock.

About Casey’s General Stores

(Get Free Report)

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.

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