Casey's General Stores, Inc. (NASDAQ:CASY) CFO Stephen P. Bramlage, Jr. Sells 8,478 Shares

Casey's General Stores, Inc. (NASDAQ:CASY - Get Free Report) CFO Stephen P. Bramlage, Jr. sold 8,478 shares of Casey's General Stores stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $509.21, for a total value of $4,317,082.38. Following the sale, the chief financial officer now directly owns 26,754 shares in the company, valued at $13,623,404.34. The trade was a 24.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Casey's General Stores Trading Down 0.3%

CASY traded down $1.32 during trading on Wednesday, reaching $506.31. 396,614 shares of the stock traded hands, compared to its average volume of 303,617. The company has a quick ratio of 0.48, a current ratio of 0.92 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $18.79 billion, a PE ratio of 34.67, a P/E/G ratio of 2.53 and a beta of 0.65. The stock's 50-day moving average is $456.82 and its 200 day moving average is $427.59. Casey's General Stores, Inc. has a 12 month low of $350.52 and a 12 month high of $527.65.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings data on Monday, June 9th. The company reported $2.63 earnings per share for the quarter, beating 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 firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.95 billion. During the same quarter in the prior year, the business earned $2.34 earnings per share. The business's quarterly revenue was up 10.9% compared to the same quarter last year. Equities analysts anticipate that Casey's General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey's General Stores Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be issued a dividend of $0.57 per share. The ex-dividend date is Friday, August 1st. This represents a $2.28 annualized dividend and a dividend yield of 0.45%. This is a positive change from Casey's General Stores's previous quarterly dividend of $0.50. Casey's General Stores's dividend payout ratio is currently 13.66%.

Hedge Funds Weigh In On Casey's General Stores

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Casey's General Stores by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 3,799,104 shares of the company's stock valued at $1,505,319,000 after purchasing an additional 44,295 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in shares of Casey's General Stores by 1.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,776,323 shares of the company's stock valued at $703,833,000 after purchasing an additional 31,131 shares during the period. Wellington Management Group LLP raised its holdings in shares of Casey's General Stores by 190.6% during the first quarter. Wellington Management Group LLP now owns 1,244,311 shares of the company's stock valued at $540,081,000 after purchasing an additional 816,110 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Casey's General Stores by 42.0% during the first quarter. JPMorgan Chase & Co. now owns 1,036,426 shares of the company's stock valued at $449,851,000 after purchasing an additional 306,628 shares during the period. Finally, Franklin Resources Inc. raised its holdings in shares of Casey's General Stores by 29.5% during the fourth quarter. Franklin Resources Inc. now owns 678,778 shares of the company's stock valued at $268,952,000 after purchasing an additional 154,541 shares during the period. Institutional investors and hedge funds own 85.63% of the company's stock.

Analyst Ratings Changes

CASY has been the topic of several analyst reports. Wells Fargo & Company boosted their price objective on shares of Casey's General Stores from $460.00 to $540.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 11th. Evercore ISI boosted their price objective 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. The Goldman Sachs Group boosted their price objective 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. Stephens reissued an "overweight" rating and issued a $490.00 price objective on shares of Casey's General Stores in a research note on Tuesday, June 10th. Finally, BMO Capital Markets boosted their price objective on shares of Casey's General Stores from $450.00 to $515.00 and gave the stock a "market perform" rating in a research note on Wednesday, June 11th. One 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus 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.

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