Stephen Bramlage Jr Sells 5,700 Shares of Casey's General Stores (NASDAQ:CASY) Stock

Key Points

• Casey's General Stores CFO Stephen Bramlage Jr. sold 5,700 shares on July 8 at an average price of $838.16, totaling about $4.78 million. After the sale, he still owned 29,677 shares, reducing his stake by 16.11%.
• The company reported strong quarterly results, with EPS of $4.37 versus expectations of $3.31 and revenue of $4.57 billion versus $4.33 billion expected. Revenue rose 14.5% year over year.
• Casey's also raised its quarterly dividend to $0.65 per share from $0.57, and analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $939.29.

Casey's General Stores, Inc. (NASDAQ:CASY - Get Free Report) CFO Stephen Bramlage, Jr. sold 5,700 shares of the firm's stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $838.16, for a total transaction of $4,777,512.00. Following the completion of the transaction, the chief financial officer directly owned 29,677 shares in the company, valued at approximately $24,874,074.32. This represents a 16.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Casey's General Stores Price Performance

Shares of CASY stock traded up $1.36 on Friday, hitting $823.36. 115,866 shares of the company's stock were exchanged, compared to its average volume of 544,203. The company has a 50 day moving average of $822.83 and a 200 day moving average of $721.48. The stock has a market cap of $30.47 billion, a P/E ratio of 42.95, a price-to-earnings-growth ratio of 2.53 and a beta of 0.62. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60. Casey's General Stores, Inc. has a 12 month low of $490.00 and a 12 month high of $927.85.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.31 by $1.06. The firm had revenue of $4.57 billion for the quarter, compared to analysts' expectations of $4.33 billion. Casey's General Stores had a return on equity of 18.73% and a net margin of 4.07%.The business's revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.63 earnings per share. On average, equities research analysts predict that Casey's General Stores, Inc. will post 21.14 EPS for the current year.

Casey's General Stores Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Saturday, August 1st will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, July 31st. This is a positive change from Casey's General Stores's previous quarterly dividend of $0.57. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.3%. Casey's General Stores's payout ratio is 11.90%.

Institutional Investors Weigh In On Casey's General Stores

Hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in Casey's General Stores by 7.4% in the 4th quarter. Geode Capital Management LLC now owns 760,438 shares of the company's stock worth $420,416,000 after buying an additional 52,250 shares during the last quarter. North Dakota State Investment Board bought a new position in Casey's General Stores during the fourth quarter valued at approximately $720,000. Burns J W & Co. Inc. NY raised its stake in shares of Casey's General Stores by 103.5% during the first quarter. Burns J W & Co. Inc. NY now owns 2,448 shares of the company's stock worth $1,782,000 after acquiring an additional 1,245 shares in the last quarter. Jackson Creek Investment Advisors LLC bought a new stake in shares of Casey's General Stores in the 4th quarter worth approximately $1,338,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Casey's General Stores by 2.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 140,491 shares of the company's stock worth $77,651,000 after acquiring an additional 3,553 shares during the last quarter. Institutional investors and hedge funds own 85.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CASY. Wolfe Research reissued an "outperform" rating and issued a $1,069.00 price objective on shares of Casey's General Stores in a research report on Thursday, June 11th. The Goldman Sachs Group raised their target price on Casey's General Stores from $695.00 to $795.00 and gave the stock a "neutral" rating in a research note on Thursday, June 25th. Weiss Ratings upgraded Casey's General Stores from a "buy (b)" rating to a "buy (b+)" rating in a report on Wednesday. Zacks Research downgraded Casey's General Stores from a "strong-buy" rating to a "hold" rating in a report on Friday, June 5th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $1,000.00 price target on shares of Casey's General Stores in a research note on Monday, June 15th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $939.29.

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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