Insider Selling: Casey's General Stores, Inc. (NASDAQ:CASY) CEO Sells 20,000 Shares of Stock

Casey's General Stores, Inc. (NASDAQ:CASY - Get Free Report) CEO Darren M. Rebelez sold 20,000 shares of the firm's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $507.83, for a total transaction of $10,156,600.00. Following the transaction, the chief executive officer now owns 89,840 shares of the company's stock, valued at approximately $45,623,447.20. This represents a 18.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Casey's General Stores Price Performance

Shares of Casey's General Stores stock traded down $1.32 during midday trading on Wednesday, reaching $506.31. The company had a trading volume of 396,614 shares, compared to its average volume of 303,617. The company has a current ratio of 0.92, a quick ratio of 0.48 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $18.79 billion, a price-to-earnings ratio of 34.67, a price-to-earnings-growth ratio of 2.53 and a beta of 0.65. The stock has a fifty day simple moving average of $456.82 and a 200 day simple moving average of $427.59. Casey's General Stores, Inc. has a 1-year low of $350.52 and a 1-year high of $527.65.

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 for the quarter, beating analysts' consensus estimates of $1.94 by $0.69. The business had revenue of $3.99 billion during 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 revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.34 earnings per share. As a group, equities research analysts forecast that Casey's General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey's General Stores Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be issued a $0.57 dividend. The ex-dividend date is Friday, August 1st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.45%. This is a positive change from Casey's General Stores's previous quarterly dividend of $0.50. Casey's General Stores's dividend payout ratio (DPR) is currently 13.66%.

Institutional Trading of Casey's General Stores

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Voya Investment Management LLC increased its holdings in shares of Casey's General Stores by 5.6% in the first quarter. Voya Investment Management LLC now owns 8,529 shares of the company's stock valued at $3,702,000 after purchasing an additional 452 shares in the last quarter. Howe & Rusling Inc. acquired a new stake in Casey's General Stores during the 1st quarter worth $8,166,000. Strs Ohio acquired a new stake in Casey's General Stores during the 1st quarter worth $28,994,000. Advisors Capital Management LLC grew its holdings in Casey's General Stores by 1.1% during the 1st quarter. Advisors Capital Management LLC now owns 45,985 shares of the company's stock worth $19,959,000 after acquiring an additional 488 shares during the period. Finally, WBI Investments LLC grew its holdings in Casey's General Stores by 39.7% during the 1st quarter. WBI Investments LLC now owns 1,453 shares of the company's stock worth $631,000 after acquiring an additional 413 shares during the period. Institutional investors and hedge funds own 85.63% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CASY shares. Wells Fargo & Company raised their price target on shares of Casey's General Stores from $460.00 to $540.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 11th. The Goldman Sachs Group raised their price target on shares of 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. Evercore ISI lifted their target price 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. Wall Street Zen upgraded shares of Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Royal Bank Of Canada set a $438.00 target price on shares of Casey's General Stores and gave the company a "sector perform" rating in a research note on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $453.00.

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.

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