Mike Spanos Purchases 300 Shares of Casey's General Stores (NASDAQ:CASY) Stock

Key Points

• Mike Spanos, a director at Casey's General Stores, purchased 300 shares on March 13 at an average price of $665.43 for a total of $199,629, raising his stake to 4,499 shares (a 7.14% increase) as disclosed in an SEC Form 4 filing.
• CASY shares traded up 1.9% to $673.27 and the company declared a quarterly dividend of $0.57 per share (annualized $2.28, yield 0.3%) with an ex-dividend date of May 1 and payment on May 15.
• Casey’s reported quarterly EPS of $3.49 (above the $2.94 estimate) but revenue of $3.92 billion slightly missed estimates; the company has a market cap of $24.88 billion, a P/E of 38.65, and a consensus analyst rating of “Moderate Buy” with a $698.20 target.

Casey's General Stores, Inc. (NASDAQ:CASY - Get Free Report) Director Mike Spanos bought 300 shares of the company's stock in a transaction on Friday, March 13th. The shares were acquired at an average price of $665.43 per share, for a total transaction of $199,629.00. Following the completion of the acquisition, the director owned 4,499 shares in the company, valued at $2,993,769.57. This represents a 7.14% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Casey's General Stores Stock Up 1.9%

CASY stock traded up $12.40 during trading on Monday, hitting $673.27. 294,560 shares of the company's stock traded hands, compared to its average volume of 415,635. Casey's General Stores, Inc. has a 1 year low of $386.04 and a 1 year high of $696.66. The business has a fifty day simple moving average of $643.76 and a two-hundred day simple moving average of $580.84. The firm has a market capitalization of $24.88 billion, a P/E ratio of 38.65, a PEG ratio of 2.18 and a beta of 0.65. The company has a quick ratio of 0.64, a current ratio of 1.04 and a debt-to-equity ratio of 0.61.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its quarterly earnings results on Monday, March 9th. The company reported $3.49 EPS for the quarter, topping the consensus estimate of $2.94 by $0.55. Casey's General Stores had a return on equity of 17.56% and a net margin of 3.83%.The firm had revenue of $3.92 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same period in the previous year, the company posted $2.33 EPS. The business's revenue for the quarter was up .3% compared to the same quarter last year. Sell-side analysts anticipate 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 declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 1st will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, May 1st. Casey's General Stores's dividend payout ratio is presently 13.09%.

Hedge Funds Weigh In On Casey's General Stores

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Foster Dykema Cabot & Partners LLC purchased a new stake in Casey's General Stores during the 3rd quarter worth approximately $25,000. Westside Investment Management Inc. raised its holdings in shares of Casey's General Stores by 100.0% in the third quarter. Westside Investment Management Inc. now owns 46 shares of the company's stock worth $26,000 after buying an additional 23 shares during the last quarter. Central Pacific Bank Trust Division lifted its stake in shares of Casey's General Stores by 52.8% during the fourth quarter. Central Pacific Bank Trust Division now owns 55 shares of the company's stock worth $30,000 after buying an additional 19 shares during the period. True Wealth Design LLC grew its holdings in shares of Casey's General Stores by 350.0% during the fourth quarter. True Wealth Design LLC now owns 54 shares of the company's stock valued at $30,000 after buying an additional 42 shares during the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new stake in shares of Casey's General Stores during the third quarter valued at $33,000. 85.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CASY has been the topic of a number of analyst reports. Zacks Research downgraded shares of Casey's General Stores from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 23rd. Wells Fargo & Company increased their target price on shares of Casey's General Stores from $725.00 to $745.00 and gave the company an "overweight" rating in a research report on Tuesday, March 10th. Deutsche Bank Aktiengesellschaft set a $688.00 target price on shares of Casey's General Stores in a research note on Thursday, January 8th. KeyCorp reaffirmed an "overweight" rating and set a $700.00 price target on shares of Casey's General Stores in a research report on Thursday, February 12th. Finally, Northcoast Research lowered Casey's General Stores from a "buy" rating to a "neutral" rating in a report on Wednesday, January 21st. Eight analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Casey's General Stores has an average rating of "Moderate Buy" and a consensus target price of $698.20.

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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