Thomas P. Brennan, Jr. Sells 6,600 Shares of Casey's General Stores, Inc. (NASDAQ:CASY) Stock

Casey's General Stores, Inc. (NASDAQ:CASY - Get Free Report) insider Thomas P. Brennan, Jr. sold 6,600 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $506.03, for a total transaction of $3,339,798.00. Following the transaction, the insider now directly owns 2,100 shares in the company, valued at $1,062,663. This trade represents a 75.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Casey's General Stores Stock Performance

Shares of NASDAQ CASY traded down $6.04 during midday trading on Friday, reaching $500.27. 451,108 shares of the stock were exchanged, compared to its average volume of 304,226. 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 firm has a 50-day simple moving average of $459.52 and a two-hundred day simple moving average of $428.72. Casey's General Stores, Inc. has a twelve month low of $350.52 and a twelve month high of $512.88. The firm has a market cap of $18.57 billion, a price-to-earnings ratio of 34.17, a PEG ratio of 2.53 and a beta of 0.65.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its quarterly earnings results on Monday, June 9th. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $1.94 by $0.69. The company 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%. The firm's revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the business earned $2.34 earnings per share. As a group, analysts anticipate that Casey's General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey's General Stores Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Friday, August 1st. This is a positive change from Casey's General Stores's previous quarterly dividend of $0.50. Casey's General Stores's payout ratio is currently 13.66%.

Analyst Ratings Changes

Several analysts have recently commented on CASY shares. BMO Capital Markets increased their price objective on Casey's General Stores from $450.00 to $515.00 and gave the company a "market perform" rating in a report 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 report on Wednesday, June 11th. The Goldman Sachs Group boosted their target price on shares of 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. Royal Bank Of Canada set a $438.00 target price on Casey's General Stores and gave the company a "sector perform" rating in a research report on Wednesday, March 12th. Finally, KeyCorp raised 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $453.00.

Hedge Funds Weigh In On Casey's General Stores

Large investors have recently bought and sold shares of the business. Versant Capital Management Inc purchased a new stake in shares of Casey's General Stores in the first quarter valued at approximately $25,000. Global Financial Private Client LLC grew its stake in Casey's General Stores by 325.0% in the 1st quarter. Global Financial Private Client LLC now owns 68 shares of the company's stock valued at $30,000 after acquiring an additional 52 shares during the period. Summit Securities Group LLC purchased a new stake in Casey's General Stores in the 1st quarter worth $32,000. Iron Horse Wealth Management LLC increased its holdings in Casey's General Stores by 40.0% in the 1st 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 position in Casey's General Stores during the first quarter worth $47,000. Institutional investors and hedge funds own 85.63% of the company's stock.

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.