Casey's General Stores (NASDAQ:CASY) Insider Chad Michael Frazell Sells 3,487 Shares

Key Points

• Insider Chad Michael Frazell sold 3,487 shares of Casey's General Stores at an average price of $555.40, totaling approximately $1.94 million. This sale reduced his ownership in the company by 30.37%.
• Casey's General Stores reported earnings per share (EPS) of $5.77 for the last quarter, surpassing expectations of $5.02, and generating a revenue of $4.57 billion, reflecting an 11.5% year-over-year increase.
• The company announced a quarterly dividend of $0.57 per share, with a payout date of November 14th and a yield of 0.4%, resulting in an annualized dividend of $2.28.

Casey's General Stores, Inc. (NASDAQ:CASY - Get Free Report) insider Chad Michael Frazell sold 3,487 shares of the stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $555.40, for a total value of $1,936,679.80. Following the completion of the sale, the insider owned 7,993 shares in the company, valued at approximately $4,439,312.20. The trade was a 30.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Casey's General Stores Trading Up 0.6%

CASY traded up $3.59 during trading on Tuesday, hitting $564.53. 107,201 shares of the stock were exchanged, compared to its average volume of 356,238. The firm has a 50 day simple moving average of $523.36 and a 200 day simple moving average of $484.67. The firm has a market cap of $20.99 billion, a price-to-earnings ratio of 36.22 and a beta of 0.66. Casey's General Stores, Inc. has a 1 year low of $363.00 and a 1 year high of $571.57. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.61 and a current ratio of 1.03.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its earnings results on Monday, September 8th. The company reported $5.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.02 by $0.75. The business had revenue of $4.57 billion for the quarter, compared to analysts' expectations of $4.47 billion. Casey's General Stores had a return on equity of 16.73% and a net margin of 3.54%.The business's revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the firm earned $4.83 EPS. As a group, equities analysts expect that Casey's General Stores, Inc. will post 13.94 EPS for the current year.

Casey's General Stores Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Saturday, November 1st will be paid a $0.57 dividend. The ex-dividend date is Friday, October 31st. This represents a $2.28 dividend on an annualized basis and a yield of 0.4%. Casey's General Stores's dividend payout ratio (DPR) is 14.63%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CASY. Wells Fargo & Company raised their target price on Casey's General Stores from $540.00 to $580.00 and gave the stock an "overweight" rating in a research note on Monday, September 8th. The Goldman Sachs Group lifted their price objective on Casey's General Stores from $450.00 to $490.00 and gave the company a "neutral" rating in a research note on Wednesday, September 10th. Evercore ISI lifted their price objective on Casey's General Stores from $560.00 to $580.00 and gave the company an "outperform" rating in a research note on Wednesday, September 10th. KeyCorp lifted their price objective on Casey's General Stores from $550.00 to $575.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Finally, Stephens reiterated an "overweight" rating and set a $530.00 price objective on shares of Casey's General Stores in a research note on Tuesday, September 9th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $529.10.

Institutional Investors Weigh In On Casey's General Stores

Several institutional investors have recently bought and sold shares of the company. Valmark Advisers Inc. boosted its holdings in Casey's General Stores by 0.5% in the 2nd quarter. Valmark Advisers Inc. now owns 4,404 shares of the company's stock worth $2,247,000 after buying an additional 21 shares during the last quarter. Panagora Asset Management Inc. boosted its holdings in Casey's General Stores by 0.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 4,147 shares of the company's stock worth $2,116,000 after buying an additional 21 shares during the last quarter. Flagship Harbor Advisors LLC boosted its holdings in Casey's General Stores by 4.1% in the 1st quarter. Flagship Harbor Advisors LLC now owns 590 shares of the company's stock worth $256,000 after buying an additional 23 shares during the last quarter. Sunbelt Securities Inc. boosted its holdings in Casey's General Stores by 1.4% in the 1st quarter. Sunbelt Securities Inc. now owns 1,870 shares of the company's stock worth $812,000 after buying an additional 26 shares during the last quarter. Finally, Iron Horse Wealth Management LLC boosted 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 buying an additional 26 shares during the last quarter. 85.63% of the stock is currently owned by institutional investors and hedge funds.

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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