Insider Selling: Casey’s General Stores, Inc. (NASDAQ:CASY) Insider Sells 450 Shares of Stock

Casey’s General Stores, Inc. (NASDAQ:CASY) insider Katrina S. Lindsey sold 450 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $427.13, for a total transaction of $192,208.50. Following the completion of the sale, the insider now directly owns 2,247 shares of the company’s stock, valued at $959,761.11. This trade represents a 16.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Casey’s General Stores Stock Down 0.1 %

Casey’s General Stores stock opened at $425.27 on Friday. The firm has a market cap of $15.79 billion, a price-to-earnings ratio of 29.64 and a beta of 0.80. The firm has a fifty day moving average price of $405.04 and a two-hundred day moving average price of $381.40. Casey’s General Stores, Inc. has a fifty-two week low of $266.58 and a fifty-two week high of $439.68. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.44.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Monday, December 9th. The company reported $4.85 earnings per share for the quarter, beating the consensus estimate of $4.29 by $0.56. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The firm had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter in the prior year, the company earned $4.24 EPS. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, analysts forecast that Casey’s General Stores, Inc. will post 14.28 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 17th. Investors of record on Monday, February 3rd will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, February 3rd. Casey’s General Stores’s payout ratio is currently 13.94%.

Institutional Trading of Casey’s General Stores

Several hedge funds and other institutional investors have recently bought and sold shares of CASY. Lord Abbett & CO. LLC bought a new stake in Casey’s General Stores in the 3rd quarter valued at $23,294,000. Logan Capital Management Inc. acquired a new position in shares of Casey’s General Stores in the 3rd quarter worth approximately $2,049,000. Oddo BHF Asset Management Sas acquired a new position in shares of Casey’s General Stores in the 3rd quarter worth approximately $899,000. Franklin Resources Inc. grew its position in Casey’s General Stores by 49.9% during the 3rd quarter. Franklin Resources Inc. now owns 524,237 shares of the company’s stock worth $204,861,000 after acquiring an additional 174,586 shares during the last quarter. Finally, Synovus Financial Corp increased its holdings in Casey’s General Stores by 74.4% during the 3rd quarter. Synovus Financial Corp now owns 16,595 shares of the company’s stock valued at $6,235,000 after purchasing an additional 7,078 shares in the last quarter. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CASY shares. StockNews.com downgraded shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research report on Friday. Benchmark reaffirmed a “buy” rating and set a $410.00 price target on shares of Casey’s General Stores in a research note on Tuesday, September 10th. JPMorgan Chase & Co. downgraded Casey’s General Stores from a “neutral” rating to an “underweight” rating and increased their price objective for the stock from $300.00 to $337.00 in a report on Thursday, September 19th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Casey’s General Stores from $451.00 to $454.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, Melius Research initiated coverage on Casey’s General Stores in a report on Monday, September 23rd. They set a “buy” rating and a $435.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Casey’s General Stores presently has a consensus rating of “Moderate Buy” and a consensus price target of $419.45.

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.