Casey's General Stores (NASDAQ:CASY) Stock: Insider Thomas Brennan Jr Sells 3,000 Shares

Key Points

• Insider Thomas Brennan Jr. sold 3,000 Casey’s shares at an average price of $786.53, for about $2.36 million. He retained 11,171 shares after the sale.
• Casey’s reported quarterly earnings of $7.37 per share, beating the $6.78 analyst consensus, while revenue of $5.68 billion exceeded estimates and rose 24.3% year over year.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $835.38. The company also announced a quarterly dividend of $0.65 per share.

Casey's General Stores, Inc. (NASDAQ:CASY - Get Free Report) insider Thomas Brennan, Jr. sold 3,000 shares of the company's stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $786.53, for a total value of $2,359,590.00. Following the completion of the transaction, the insider directly owned 11,171 shares in the company, valued at approximately $8,786,326.63. The trade was a 21.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Casey's General Stores Stock Up 1.4%

Shares of Casey's General Stores stock traded up $9.45 on Wednesday, hitting $674.84. 560,048 shares of the company's stock traded hands, compared to its average volume of 520,547. The stock has a market cap of $24.94 billion, a P/E ratio of 32.51, a PEG ratio of 2.16 and a beta of 0.59. The company has a quick ratio of 0.61, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. The firm's 50-day moving average is $665.52 and its 200 day moving average is $740.30. Casey's General Stores, Inc. has a 52-week low of $513.10 and a 52-week high of $927.85.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its quarterly earnings results on Tuesday, September 8th. The company reported $7.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.78 by $0.59. The business had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.56 billion. Casey's General Stores had a net margin of 4.14% and a return on equity of 19.68%. The business's revenue was up 24.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.77 earnings per share. Equities analysts anticipate that Casey's General Stores, Inc. will post 21.61 earnings per share for the current year.

Casey's General Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Sunday, November 1st will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Friday, October 30th. Casey's General Stores's dividend payout ratio (DPR) is currently 12.52%.

Institutional Investors Weigh In On Casey's General Stores

A number of institutional investors have recently modified their holdings of CASY. BlackRock Inc. bought a new position in shares of Casey's General Stores during the second quarter valued at approximately $2,759,895,000. Bank of America Corp DE bought a new stake in shares of Casey's General Stores in the 2nd quarter worth approximately $281,872,000. Bank of New York Mellon Corp bought a new stake in shares of Casey's General Stores in the 2nd quarter worth approximately $281,011,000. Jupiter Topco LLC acquired a new position in Casey's General Stores during the 2nd quarter valued at approximately $246,982,000. Finally, Corient Private Wealth LP acquired a new position in Casey's General Stores during the 2nd quarter valued at approximately $164,376,000. Institutional investors own 85.63% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CASY. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Casey's General Stores in a research report on Monday, October 19th. William Blair reissued an "outperform" rating on shares of Casey's General Stores in a report on Wednesday, September 16th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $933.00 price objective on shares of Casey's General Stores in a research note on Thursday, September 10th. Evercore reaffirmed an "outperform" rating and set a $775.00 target price on shares of Casey's General Stores in a report on Friday, September 11th. Finally, Stephens set a $750.00 target price on Casey's General Stores in a report on Thursday, September 10th. Sixteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $835.38.

Casey's General Stores Company Profile

Casey’s General Stores, Inc NASDAQ: CASY is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.

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