Mike Spanos Purchases 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 stock in a transaction dated Monday, December 23rd. The stock was bought at an average price of $396.76 per share, with a total value of $198,380.00. Following the purchase, the director now directly owns 3,097 shares in the company, valued at $1,228,765.72. This represents a 19.25 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Casey’s General Stores Price Performance

Shares of NASDAQ:CASY 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. The stock has a market cap of $14.99 billion, a PE ratio of 28.15 and a beta of 0.80. The stock’s fifty day simple moving average is $409.49 and its two-hundred day simple moving average is $386.93. Casey’s General Stores, Inc. has a 1-year low of $268.07 and a 1-year high of $439.68.

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

Casey’s General Stores Dividend Announcement

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

Institutional Trading of Casey’s General Stores

A number of institutional investors and hedge funds have recently modified their holdings of the business. Innealta Capital LLC purchased a new position in Casey’s General Stores in the second quarter worth $32,000. Venturi Wealth Management LLC grew its position in Casey’s General Stores by 941.7% during the third quarter. Venturi Wealth Management LLC now owns 125 shares of the company’s stock valued at $47,000 after buying an additional 113 shares during the period. V Square Quantitative Management LLC raised its position in Casey’s General Stores by 22.5% in the third quarter. V Square Quantitative Management LLC now owns 158 shares of the company’s stock worth $59,000 after acquiring an additional 29 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in Casey’s General Stores in the second quarter worth about $68,000. Finally, Quarry LP purchased a new position in Casey’s General Stores in the second quarter valued at about $72,000. 85.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CASY shares. Evercore ISI raised their price target on shares of Casey’s General Stores from $460.00 to $470.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Wells Fargo & Company boosted their target price on Casey’s General Stores from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Deutsche Bank Aktiengesellschaft upped their price target on Casey’s General Stores from $451.00 to $454.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Royal Bank of Canada raised their price objective on Casey’s General Stores from $403.00 to $428.00 and gave the company a “sector perform” rating in a research note on Tuesday, December 10th. Finally, Gordon Haskett began coverage on Casey’s General Stores in a research report on Monday, November 4th. They set a “hold” rating and a $400.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $424.00.

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.