Insider Selling: Casey’s General Stores, Inc. (NASDAQ:CASY) Insider Sells $192,208.50 in Stock

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

Casey’s General Stores Trading Down 0.1 %

Shares of CASY stock traded down $0.43 during trading hours on Friday, reaching $425.27. 187,688 shares of the stock traded hands, compared to its average volume of 266,126. The business has a fifty day moving average price of $403.94 and a 200 day moving average price of $380.83. Casey’s General Stores, Inc. has a 1-year low of $266.58 and a 1-year high of $439.68. The company has a quick ratio of 0.44, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $15.79 billion, a PE ratio of 29.67 and a beta of 0.80.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Monday, December 9th. The company reported $4.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $3.95 billion during the quarter, compared to analyst estimates of $4.03 billion. During the same quarter in the prior year, the company earned $4.24 earnings per share. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, equities research analysts forecast that Casey’s General Stores, Inc. will post 14.28 EPS for the current year.

Casey’s General Stores Dividend Announcement

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

Hedge Funds Weigh In On Casey’s General Stores

A number of large investors have recently made changes to their positions in CASY. SG Americas Securities LLC purchased a new position in Casey’s General Stores during the second quarter valued at approximately $2,183,000. Envestnet Portfolio Solutions Inc. lifted its position in Casey’s General Stores by 80.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 2,800 shares of the company’s stock worth $1,068,000 after buying an additional 1,245 shares in the last quarter. AdvisorNet Financial Inc boosted its stake in shares of Casey’s General Stores by 10.1% during the 2nd quarter. AdvisorNet Financial Inc now owns 317 shares of the company’s stock valued at $121,000 after buying an additional 29 shares during the period. Portside Wealth Group LLC grew its holdings in shares of Casey’s General Stores by 150.4% during the 2nd quarter. Portside Wealth Group LLC now owns 2,286 shares of the company’s stock valued at $872,000 after acquiring an additional 1,373 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Casey’s General Stores by 227.1% in the second quarter. Blue Trust Inc. now owns 350 shares of the company’s stock worth $134,000 after acquiring an additional 243 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 recently weighed in on CASY. Benchmark reaffirmed a “buy” rating and issued a $410.00 price objective on shares of Casey’s General Stores in a report on Tuesday, September 10th. Royal Bank of Canada increased their price objective on shares of Casey’s General Stores from $403.00 to $428.00 and gave the company a “sector perform” rating in a report on Tuesday. JPMorgan Chase & Co. downgraded Casey’s General Stores from a “neutral” rating to an “underweight” rating and upped their target price for the stock from $300.00 to $337.00 in a research report on Thursday, September 19th. Melius Research initiated coverage on Casey’s General Stores in a research note on Monday, September 23rd. They issued a “buy” rating and a $435.00 price objective on the stock. Finally, Gordon Haskett assumed coverage on Casey’s General Stores in a research note on Monday, November 4th. They set a “hold” rating and a $400.00 target price for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Casey’s General Stores presently has an average rating of “Moderate Buy” and a consensus target price of $412.83.

About Casey’s General Stores

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.