Mike Spanos Buys 454 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY) Stock

Casey’s General Stores, Inc. (NASDAQ:CASYGet Rating) Director Mike Spanos purchased 454 shares of the stock in a transaction dated Monday, September 12th. The shares were bought at an average price of $220.45 per share, with a total value of $100,084.30. Following the completion of the acquisition, the director now directly owns 454 shares of the company’s stock, valued at approximately $100,084.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Casey’s General Stores Stock Performance

Shares of Casey’s General Stores stock opened at $214.66 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.54 and a debt-to-equity ratio of 0.69. The business has a 50-day moving average price of $208.58 and a two-hundred day moving average price of $201.25. Casey’s General Stores, Inc. has a 1-year low of $170.82 and a 1-year high of $223.90. The company has a market cap of $8.00 billion, a P/E ratio of 21.49 and a beta of 0.79.

Casey’s General Stores (NASDAQ:CASYGet Rating) last issued its quarterly earnings results on Wednesday, September 7th. The company reported $4.09 earnings per share for the quarter, topping analysts’ consensus estimates of $3.11 by $0.98. The firm had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.47 billion. Casey’s General Stores had a return on equity of 16.73% and a net margin of 2.63%. The business’s revenue was up 40.0% compared to the same quarter last year. During the same period last year, the business posted $3.19 EPS. As a group, analysts anticipate that Casey’s General Stores, Inc. will post 9.94 EPS for the current year.

Casey’s General Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 1st will be given a dividend of $0.38 per share. The ex-dividend date is Monday, October 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.71%. Casey’s General Stores’s dividend payout ratio (DPR) is presently 15.22%.

Hedge Funds Weigh In On Casey’s General Stores

A number of institutional investors and hedge funds have recently made changes to their positions in CASY. Thrivent Financial for Lutherans boosted its position in shares of Casey’s General Stores by 915.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 628,013 shares of the company’s stock worth $116,170,000 after purchasing an additional 566,192 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Casey’s General Stores by 152.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 384,281 shares of the company’s stock worth $76,153,000 after purchasing an additional 232,277 shares in the last quarter. TimesSquare Capital Management LLC bought a new position in shares of Casey’s General Stores during the 2nd quarter worth about $38,217,000. Atlanta Capital Management Co. L L C boosted its position in shares of Casey’s General Stores by 15.3% during the 4th quarter. Atlanta Capital Management Co. L L C now owns 911,455 shares of the company’s stock worth $179,876,000 after purchasing an additional 121,264 shares in the last quarter. Finally, Weiss Multi Strategy Advisers LLC bought a new position in Casey’s General Stores in the 1st quarter valued at about $21,799,000. Institutional investors own 76.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CASY. Deutsche Bank Aktiengesellschaft decreased their price objective on Casey’s General Stores from $276.00 to $269.00 in a report on Friday, September 9th. Royal Bank of Canada increased their price objective on Casey’s General Stores from $238.00 to $250.00 and gave the company a “sector perform” rating in a report on Thursday, September 8th. Stephens increased their price objective on Casey’s General Stores from $230.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, August 18th. BMO Capital Markets increased their price objective on Casey’s General Stores from $235.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, September 9th. Finally, Wells Fargo & Company began coverage on Casey’s General Stores in a report on Wednesday, May 25th. They issued an “overweight” rating and a $240.00 price objective for the company. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $245.00.

About Casey’s General Stores

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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 a selection of food, including freshly prepared foods, such as pizza, donuts, and sandwiches; beverages; tobacco and nicotine products; health and beauty aids; automotive products; and other nonfood items.

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