Insider Selling: Casey's General Stores, Inc. (NASDAQ:CASY) CFO Sells 760 Shares of Stock

Casey's General Stores, Inc. (NASDAQ:CASY - Get Free Report) CFO Stephen P. Bramlage, Jr. sold 760 shares of the company's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $507.56, for a total transaction of $385,745.60. Following the completion of the transaction, the chief financial officer owned 25,994 shares in the company, valued at approximately $13,193,514.64. The trade was a 2.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Casey's General Stores Stock Performance

Casey's General Stores stock traded up $5.93 during midday trading on Thursday, hitting $516.85. The stock had a trading volume of 173,672 shares, compared to its average volume of 302,913. The firm's fifty day moving average is $469.77 and its two-hundred day moving average is $434.73. The company has a market capitalization of $19.22 billion, a PE ratio of 35.30, a P/E/G ratio of 2.56 and a beta of 0.69. Casey's General Stores, Inc. has a 52-week low of $350.52 and a 52-week high of $664.17. The company has a current ratio of 0.92, a quick ratio of 0.48 and a debt-to-equity ratio of 0.69.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings results on Monday, June 9th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.69. Casey's General Stores had a return on equity of 16.28% and a net margin of 3.43%. The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same period in the prior year, the company posted $2.34 EPS. The firm's revenue for the quarter was up 10.9% compared to the same quarter last year. On average, research analysts forecast that Casey's General Stores, Inc. will post 13.94 EPS for the current year.

Casey's General Stores Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 0.44%. This is an increase from Casey's General Stores's previous quarterly dividend of $0.50. The ex-dividend date is Friday, August 1st. Casey's General Stores's dividend payout ratio is presently 13.66%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. BMO Capital Markets boosted their target price on Casey's General Stores from $450.00 to $515.00 and gave the stock a "market perform" rating in a research report on Wednesday, June 11th. 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 research report on Wednesday, March 12th. Stephens reissued an "overweight" rating and issued a $490.00 target price on shares of Casey's General Stores in a research report on Tuesday, June 10th. Evercore ISI boosted their target price on Casey's General Stores from $450.00 to $460.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 1st. Finally, The Goldman Sachs Group boosted their target price on Casey's General Stores from $385.00 to $450.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $453.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Versant Capital Management Inc bought a new position in shares of Casey's General Stores during the 1st quarter valued at approximately $25,000. Global Financial Private Client LLC lifted its position in Casey's General Stores by 325.0% in the first quarter. Global Financial Private Client LLC now owns 68 shares of the company's stock worth $30,000 after buying an additional 52 shares during the last quarter. Summit Securities Group LLC purchased a new stake in Casey's General Stores in the first quarter worth $32,000. Iron Horse Wealth Management LLC increased its stake in Casey's General Stores by 40.0% in the first quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company's stock worth $40,000 after purchasing an additional 26 shares during the period. Finally, WPG Advisers LLC purchased a new stake in Casey's General Stores in the first quarter worth $47,000. 85.63% of the stock is currently owned by institutional investors.

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.