Casey's General Stores, Inc. (NASDAQ:CASY) CFO Sells $385,745.60 in Stock

Casey's General Stores, Inc. (NASDAQ:CASY - Get Free Report) CFO Stephen P. Bramlage, Jr. sold 760 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were 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 directly owned 25,994 shares in the company, valued at $13,193,514.64. This represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Casey's General Stores Trading Up 1.2%

Shares of Casey's General Stores stock traded up $5.93 during mid-day trading on Friday, hitting $516.85. 173,672 shares of the stock were exchanged, compared to its average volume of 303,081. Casey's General Stores, Inc. has a twelve month low of $350.52 and a twelve month high of $517.31. The stock has a market capitalization of $19.22 billion, a price-to-earnings ratio of 35.30 and a beta of 0.69. The company has a 50-day simple moving average of $471.16 and a 200 day simple moving average of $435.78. 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 released its quarterly earnings results on Monday, June 9th. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.69. Casey's General Stores had a net margin of 3.43% and a return on equity of 16.28%. The company had revenue of $3.99 billion for the quarter, compared to analysts' expectations of $3.95 billion. During the same period last year, the company earned $2.34 EPS. The firm's revenue for the quarter was up 10.9% compared to the same quarter last year. 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 company 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 dividend of $0.57 per share. This is a boost from Casey's General Stores's previous quarterly dividend of $0.50. This represents a $2.28 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Friday, August 1st. Casey's General Stores's dividend payout ratio (DPR) is currently 13.66%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Voya Investment Management LLC lifted its holdings in shares of Casey's General Stores by 5.6% during the 1st quarter. Voya Investment Management LLC now owns 8,529 shares of the company's stock worth $3,702,000 after acquiring an additional 452 shares during the period. Howe & Rusling Inc. purchased a new position in Casey's General Stores in the first quarter valued at approximately $8,166,000. Strs Ohio purchased a new position in Casey's General Stores in the first quarter valued at approximately $28,994,000. Advisors Capital Management LLC raised its holdings in Casey's General Stores by 1.1% in the first quarter. Advisors Capital Management LLC now owns 45,985 shares of the company's stock valued at $19,959,000 after buying an additional 488 shares during the period. Finally, WBI Investments LLC raised its holdings in Casey's General Stores by 39.7% in the first quarter. WBI Investments LLC now owns 1,453 shares of the company's stock valued at $631,000 after buying an additional 413 shares during the period. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CASY has been the topic of a number of recent analyst reports. Stephens reaffirmed an "overweight" rating and set a $490.00 price target on shares of Casey's General Stores in a research note on Tuesday, June 10th. Wall Street Zen raised shares of Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. The Goldman Sachs Group upped their price target on shares of Casey's General Stores from $385.00 to $450.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 11th. KeyCorp upped their price target on shares of Casey's General Stores from $500.00 to $550.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 11th. Finally, Evercore ISI upped their price target on shares of Casey's General Stores from $450.00 to $460.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $453.00.

About Casey's General Stores

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.