Casey's General Stores, Inc. (NASDAQ:CASY) Director Buys $100,636.00 in Stock

Casey's General Stores, Inc. (NASDAQ:CASY - Get Free Report) Director Mike Spanos bought 200 shares of the stock in a transaction that occurred on Monday, June 30th. The shares were purchased at an average price of $503.18 per share, with a total value of $100,636.00. Following the purchase, the director owned 3,560 shares of the company's stock, valued at approximately $1,791,320.80. This represents a 5.95% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.

Casey's General Stores Stock Performance

Shares of CASY stock traded up $5.93 during midday trading on Friday, hitting $516.85. The company had a trading volume of 173,672 shares, compared to its average volume of 302,913. The stock has a market cap of $19.22 billion, a price-to-earnings ratio of 35.30, a PEG ratio of 2.59 and a beta of 0.69. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.92 and a quick ratio of 0.48. The company's 50 day simple moving average is $471.16 and its 200 day simple moving average is $435.39. Casey's General Stores, Inc. has a 52-week low of $350.52 and a 52-week high of $517.31.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings data on Monday, June 9th. The company reported $2.63 earnings per share for the quarter, beating analysts' consensus estimates of $1.94 by $0.69. The firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.95 billion. Casey's General Stores had a net margin of 3.43% and a return on equity of 16.28%. Casey's General Stores's quarterly revenue was up 10.9% on a year-over-year basis. During the same period last year, the firm posted $2.34 EPS. Research analysts anticipate that Casey's General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey's General Stores Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.44%. This is a positive change 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 payout ratio is 13.66%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Evercore ISI increased their price target on shares of Casey's General Stores from $450.00 to $460.00 and gave the company an "outperform" rating in a research note on Tuesday, April 1st. The Goldman Sachs Group increased their target price on shares of Casey's General Stores from $385.00 to $450.00 and gave the company a "neutral" rating in a research report on Wednesday, June 11th. KeyCorp lifted 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. Wells Fargo & Company upped their price objective on shares of Casey's General Stores from $460.00 to $540.00 and gave the company an "overweight" rating in a research note on Wednesday, June 11th. Finally, BMO Capital Markets raised their price objective on Casey's General Stores from $450.00 to $515.00 and gave the stock a "market perform" rating in a report on Wednesday, June 11th. One investment 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, Casey's General Stores has an average rating of "Moderate Buy" and a consensus target price of $453.00.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc purchased a new position in shares of Casey's General Stores during the 1st quarter worth approximately $25,000. Global Financial Private Client LLC grew its holdings in Casey's General Stores by 325.0% during the first quarter. Global Financial Private Client LLC now owns 68 shares of the company's stock worth $30,000 after acquiring an additional 52 shares during the period. Summit Securities Group LLC acquired a new position in Casey's General Stores during the first quarter worth $32,000. Iron Horse Wealth Management LLC raised its position 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 acquiring an additional 26 shares in the last quarter. Finally, WPG Advisers LLC acquired a new stake in Casey's General Stores in the first quarter valued at $47,000. 85.63% of the stock is owned by hedge funds and other institutional investors.

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.