Insider Selling: Casey's General Stores, Inc. (NASDAQ:CASY) Director Sells 1,000 Shares of Stock

Casey's General Stores, Inc. (NASDAQ:CASY - Get Free Report) Director Allison M. Wing sold 1,000 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $502.16, for a total transaction of $502,160.00. Following the transaction, the director now owns 3,058 shares in the company, valued at approximately $1,535,605.28. This trade represents a 24.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Casey's General Stores Stock Performance

Casey's General Stores stock traded down $0.83 during mid-day trading on Friday, reaching $506.16. The company had a trading volume of 457,861 shares, compared to its average volume of 301,946. The company has a quick ratio of 0.49, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. Casey's General Stores, Inc. has a 52 week low of $350.52 and a 52 week high of $511.00. The company has a 50 day moving average of $451.87 and a 200-day moving average of $425.81. The firm has a market cap of $18.79 billion, a price-to-earnings ratio of 35.27, a PEG ratio of 2.40 and a beta of 0.65.

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. Casey's General Stores had a net margin of 3.57% and a return on equity of 17.17%. The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same period in the prior year, the firm earned $2.34 EPS. The business's revenue was up 10.9% on a year-over-year basis. On average, sell-side analysts expect 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 disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.45%. This is an increase from Casey's General Stores's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, August 1st. Casey's General Stores's dividend payout ratio (DPR) is presently 13.94%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Casey's General Stores from $460.00 to $540.00 and gave the company an "overweight" rating in a research note on Wednesday. KeyCorp raised their target price on shares of Casey's General Stores from $500.00 to $550.00 and gave the company an "overweight" rating in a research note on Wednesday. Evercore ISI raised 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. The Goldman Sachs Group raised their target price on shares of Casey's General Stores from $385.00 to $450.00 and gave the company a "neutral" rating in a research note on Wednesday. Finally, BMO Capital Markets raised their target price on shares of Casey's General Stores from $450.00 to $515.00 and gave the company a "market perform" rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, Casey's General Stores has a consensus rating of "Moderate Buy" and an average price target of $453.00.

Hedge Funds Weigh In On Casey's General Stores

Hedge funds and other institutional investors have recently made changes to their positions in the business. Natixis lifted its holdings in shares of Casey's General Stores by 21.9% during the 4th quarter. Natixis now owns 8,337 shares of the company's stock worth $3,303,000 after acquiring an additional 1,499 shares during the period. Sanctuary Advisors LLC lifted its holdings in shares of Casey's General Stores by 55.6% during the 4th quarter. Sanctuary Advisors LLC now owns 8,579 shares of the company's stock worth $3,629,000 after acquiring an additional 3,065 shares during the period. Scholtz & Company LLC bought a new position in shares of Casey's General Stores during the 4th quarter worth about $2,375,000. JLB & Associates Inc. lifted its holdings in shares of Casey's General Stores by 1.8% during the 4th quarter. JLB & Associates Inc. now owns 43,029 shares of the company's stock worth $17,049,000 after acquiring an additional 749 shares during the period. Finally, Segall Bryant & Hamill LLC lifted its holdings in shares of Casey's General Stores by 9.1% during the 4th quarter. Segall Bryant & Hamill LLC now owns 53,330 shares of the company's stock worth $21,131,000 after acquiring an additional 4,458 shares during the period. 85.63% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.