Mike Spanos Purchases 256 Shares of Casey’s General Stores, Inc. (NASDAQ:CASY) Stock

Casey’s General Stores, Inc. (NASDAQ:CASY) Director Mike Spanos purchased 256 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were acquired at an average cost of $390.54 per share, for a total transaction of $99,978.24. Following the acquisition, the director now owns 3,356 shares of the company’s stock, valued at approximately $1,310,652.24. The trade was a 8.26 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Mike Spanos also recently made the following trade(s):

• On Monday, December 23rd, Mike Spanos acquired 500 shares of Casey’s General Stores stock. The stock was acquired at an average cost of $396.76 per share, with a total value of $198,380.00.

Casey’s General Stores Price Performance

Shares of NASDAQ:CASY opened at $395.63 on Friday. The company has a market capitalization of $14.69 billion, a PE ratio of 27.57, a price-to-earnings-growth ratio of 2.40 and a beta of 0.87. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.49 and a current ratio of 0.88. The stock has a fifty day moving average of $409.52 and a 200-day moving average of $399.85. Casey’s General Stores, Inc. has a one year low of $303.95 and a one year high of $445.17.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Tuesday, March 11th. The company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.57. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The firm had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $3.74 billion. During the same quarter last year, the business posted $2.33 EPS. Casey’s General Stores’s revenue was up 17.2% on a year-over-year basis. As a group, equities analysts anticipate that Casey’s General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.51%. Casey’s General Stores’s dividend payout ratio is currently 13.94%.

Hedge Funds Weigh In On Casey’s General Stores

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. HighPoint Advisor Group LLC raised its position in Casey’s General Stores by 1.7% during the fourth quarter. HighPoint Advisor Group LLC now owns 1,468 shares of the company’s stock valued at $628,000 after buying an additional 25 shares during the period. Private Trust Co. NA raised its holdings in shares of Casey’s General Stores by 1.3% during the third quarter. Private Trust Co. NA now owns 2,072 shares of the company’s stock worth $778,000 after acquiring an additional 27 shares in the last quarter. Dark Forest Capital Management LP boosted its position in Casey’s General Stores by 3.2% during the fourth quarter. Dark Forest Capital Management LP now owns 902 shares of the company’s stock valued at $357,000 after purchasing an additional 28 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Casey’s General Stores by 24.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 149 shares of the company’s stock valued at $59,000 after purchasing an additional 29 shares in the last quarter. Finally, Harbour Investments Inc. increased its position in Casey’s General Stores by 3.1% in the 4th quarter. Harbour Investments Inc. now owns 1,002 shares of the company’s stock worth $397,000 after purchasing an additional 30 shares during the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CASY. Evercore ISI reduced their price target on Casey’s General Stores from $460.00 to $450.00 and set an “outperform” rating for the company in a research report on Tuesday, March 11th. StockNews.com downgraded shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. BMO Capital Markets restated a “market perform” rating and set a $450.00 price target (up from $400.00) on shares of Casey’s General Stores in a research report on Wednesday, December 18th. Gordon Haskett raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Finally, Royal Bank of Canada set a $438.00 target price on Casey’s General Stores and gave the stock a “sector perform” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Casey’s General Stores has an average rating of “Moderate Buy” and a consensus price target of $423.09.

Casey’s General Stores Company Profile

Casey’s General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.