Casey's General Stores, Inc. (NASDAQ:CASY) Insider Sells 4,808 Shares

Casey's General Stores, Inc. (NASDAQ:CASY - Get Free Report) insider Chad Michael Frazell sold 4,808 shares of the company's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $503.97, for a total value of $2,423,087.76. Following the completion of the sale, the insider now owns 11,480 shares of the company's stock, valued at $5,785,575.60. This trade represents a 29.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Casey's General Stores Price Performance

CASY stock traded down $1.32 during trading on Wednesday, reaching $506.31. The company's stock had a trading volume of 396,614 shares, compared to its average volume of 303,617. Casey's General Stores, Inc. has a 1 year low of $350.52 and a 1 year high of $527.65. 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 company has a market capitalization of $18.79 billion, a P/E ratio of 34.67, a price-to-earnings-growth ratio of 2.53 and a beta of 0.65. The company's fifty day moving average is $456.82 and its 200-day moving average is $427.59.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its quarterly earnings results on Monday, June 9th. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analyst estimates of $3.95 billion. During the same quarter in the prior year, the business posted $2.34 EPS. Casey's General Stores's revenue for the quarter was up 10.9% compared to the same quarter last year. On average, research analysts expect 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 announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be given a $0.57 dividend. This is an increase from Casey's General Stores's previous quarterly dividend of $0.50. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Friday, August 1st. Casey's General Stores's payout ratio is currently 13.66%.

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. Vanguard Group Inc. boosted its stake in 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 buying an additional 44,295 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in 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 buying an additional 31,131 shares during the last quarter. Wellington Management Group LLP boosted its stake in 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 buying an additional 816,110 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in 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 buying an additional 306,628 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in 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 buying an additional 154,541 shares during the last quarter. 85.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CASY shares. Evercore ISI upped their price objective on 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. BMO Capital Markets upped their price objective on 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. KeyCorp upped their price objective on 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. The Goldman Sachs Group upped their price objective on 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. Finally, Royal Bank Of Canada set a $438.00 price objective on Casey's General Stores and gave the stock a "sector perform" rating in a research note on Wednesday, March 12th. One investment 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. Based on data from MarketBeat, Casey's General Stores presently has a consensus rating of "Moderate Buy" and a consensus price target of $453.00.

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.

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