Mike Spanos Purchases 300 Shares of Casey’s General Stores (NASDAQ:CASY) Stock

Casey’s General Stores, Inc. (NASDAQ:CASY) Director Mike Spanos purchased 300 shares of the firm’s stock in a transaction dated Friday, March 13th. The stock was acquired at an average price of $665.43 per share, with a total value of $199,629.00. Following the purchase, the director directly owned 4,499 shares of the company’s stock, valued at approximately $2,993,769.57. The trade was a 7.14% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Casey’s General Stores Trading Up 2.7%

Casey’s General Stores stock opened at $691.78 on Wednesday. Casey’s General Stores, Inc. has a one year low of $386.04 and a one year high of $696.66. The business’s fifty day moving average is $648.49 and its 200 day moving average is $583.47. The stock has a market capitalization of $25.57 billion, a PE ratio of 39.71, a price-to-earnings-growth ratio of 2.22 and a beta of 0.65. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.04 and a quick ratio of 0.64.

Casey’s General Stores (NASDAQ:CASY) last issued its earnings results on Monday, March 9th. The company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $2.94 by $0.55. The business had revenue of $3.92 billion during the quarter, compared to analyst estimates of $4.08 billion. Casey’s General Stores had a return on equity of 17.56% and a net margin of 3.83%.Casey’s General Stores’s revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.33 EPS. On average, sell-side analysts predict that Casey’s General Stores, Inc. will post 13.94 EPS for the current year.

Casey’s General Stores Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 1st will be given a dividend of $0.57 per share. The ex-dividend date is Friday, May 1st. This represents a $2.28 dividend on an annualized basis and a yield of 0.3%. Casey’s General Stores’s dividend payout ratio is 13.09%.

Wall Street Analyst Weigh In

A number of research firms have commented on CASY. The Goldman Sachs Group lifted their target price on shares of Casey’s General Stores from $530.00 to $605.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 11th. Zacks Research cut Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a report on Monday, February 23rd. Northcoast Research downgraded Casey’s General Stores from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 21st. Bank of America assumed coverage on Casey’s General Stores in a report on Friday, January 9th. They issued a “buy” rating for the company. Finally, Royal Bank Of Canada upped their price objective on Casey’s General Stores from $662.00 to $713.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 10th. Eight investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $698.20.

Hedge Funds Weigh In On Casey’s General Stores

Institutional investors have recently made changes to their positions in the business. Foster Dykema Cabot & Partners LLC purchased a new stake in Casey’s General Stores during the third quarter valued at approximately $25,000. Westside Investment Management Inc. boosted its stake in shares of Casey’s General Stores by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 46 shares of the company’s stock worth $26,000 after acquiring an additional 23 shares during the last quarter. True Wealth Design LLC boosted 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 worth $30,000 after acquiring an additional 42 shares during the last quarter. Central Pacific Bank Trust Division grew its position 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 period. Finally, Atlantic Union Bankshares Corp bought a new stake in shares of Casey’s General Stores during the 3rd quarter valued at $33,000. Institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Company Profile

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.