Casey's General Stores, Inc. (NASDAQ:CASY) Director Mike Spanos Purchases 500 Shares

Casey's General Stores, Inc. (NASDAQ:CASY - Get Free Report) Director Mike Spanos acquired 500 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average price of $396.76 per share, for a total transaction of $198,380.00. Following the transaction, the director now owns 3,097 shares of the company's stock, valued at $1,228,765.72. This trade represents a 19.25 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Casey's General Stores Price Performance

Shares of NASDAQ:CASY traded up $1.81 during midday trading on Thursday, reaching $405.48. 177,312 shares of the company were exchanged, compared to its average volume of 266,664. The company has a current ratio of 0.88, a quick ratio of 0.44 and a debt-to-equity ratio of 0.74. The stock has a market cap of $15.05 billion, a PE ratio of 28.26 and a beta of 0.80. The business's fifty day moving average is $409.21 and its two-hundred day moving average is $386.40. Casey's General Stores, Inc. has a one year low of $268.07 and a one year high of $439.68.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its quarterly earnings data on Monday, December 9th. The company reported $4.85 earnings per share for the quarter, beating analysts' consensus estimates of $4.29 by $0.56. The firm had revenue of $3.95 billion during the quarter, compared to analyst estimates of $4.03 billion. Casey's General Stores had a return on equity of 17.17% and a net margin of 3.57%. The business's quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $4.24 earnings per share. As a group, analysts predict that Casey's General Stores, Inc. will post 14.28 earnings per share for the current year.

Casey's General Stores Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 17th. Stockholders of record on Monday, February 3rd will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, February 3rd. This represents a $2.00 annualized dividend and a dividend yield of 0.49%. Casey's General Stores's dividend payout ratio (DPR) is 13.94%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC purchased a new position in Casey's General Stores in the third quarter worth about $959,880,000. Millennium Management LLC lifted its stake in shares of Casey's General Stores by 3,846.1% in the 2nd quarter. Millennium Management LLC now owns 172,320 shares of the company's stock valued at $65,750,000 after purchasing an additional 176,920 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Casey's General Stores by 49.9% in the 3rd quarter. Franklin Resources Inc. now owns 524,237 shares of the company's stock worth $204,861,000 after purchasing an additional 174,586 shares during the period. Benjamin Edwards Inc. boosted its holdings in shares of Casey's General Stores by 1,819.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 130,291 shares of the company's stock worth $48,959,000 after purchasing an additional 123,502 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of Casey's General Stores by 281.4% during the 3rd quarter. Wellington Management Group LLP now owns 164,656 shares of the company's stock valued at $61,863,000 after purchasing an additional 121,488 shares during the last quarter. 85.63% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CASY has been the topic of several research reports. BMO Capital Markets reissued a "market perform" rating and issued a $450.00 target price (up from $400.00) on shares of Casey's General Stores in a research report on Wednesday, December 18th. Evercore ISI boosted their price objective on shares of Casey's General Stores from $460.00 to $470.00 and gave the company an "outperform" rating in a research report on Friday, December 13th. StockNews.com cut Casey's General Stores from a "strong-buy" rating to a "buy" rating in a report on Friday, December 13th. Gordon Haskett initiated coverage on Casey's General Stores in a research report on Monday, November 4th. They issued a "hold" rating and a $400.00 price target for the company. Finally, Benchmark reaffirmed a "buy" rating and set a $410.00 price objective on shares of Casey's General Stores in a research report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $424.00.

Casey's General Stores Company Profile

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.