Casey’s General Stores, Inc. (NASDAQ:CASY) CFO Stephen P. Bramlage, Jr. Sells 8,478 Shares of Stock

Casey’s General Stores, Inc. (NASDAQ:CASY) CFO Stephen P. Bramlage, Jr. sold 8,478 shares of the stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $509.21, for a total value of $4,317,082.38. Following the sale, the chief financial officer now directly owns 26,754 shares in the company, valued at $13,623,404.34. This trade represents a 24.06% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Casey’s General Stores Stock Performance

NASDAQ:CASY opened at $506.31 on Thursday. The company has a market capitalization of $18.79 billion, a price-to-earnings ratio of 34.58, a PEG ratio of 2.53 and a beta of 0.65. The business has a 50 day moving average of $458.15 and a 200 day moving average of $428.13. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.92 and a quick ratio of 0.48. Casey’s General Stores, Inc. has a 1-year low of $350.52 and a 1-year high of $512.88.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Monday, June 9th. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $1.94 by $0.69. Casey’s General Stores had a net margin of 3.43% and a return on equity of 16.28%. The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.95 billion. During the same period last year, the firm posted $2.34 earnings per share. The business’s revenue was up 10.9% compared to the same quarter last year. On average, sell-side analysts predict that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 0.45%. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, August 1st. Casey’s General Stores’s dividend payout ratio is presently 13.66%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Versant Capital Management Inc bought a new position in Casey’s General Stores during the 1st quarter worth approximately $25,000. Global Financial Private Client LLC grew its stake in shares of Casey’s General Stores by 325.0% in the first quarter. Global Financial Private Client LLC now owns 68 shares of the company’s stock worth $30,000 after purchasing an additional 52 shares during the last quarter. Summit Securities Group LLC purchased a new position in Casey’s General Stores during the 1st quarter valued at about $32,000. Iron Horse Wealth Management LLC raised its position in Casey’s General Stores by 40.0% during the 1st quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company’s stock valued at $40,000 after purchasing an additional 26 shares during the last quarter. Finally, WPG Advisers LLC purchased a new stake in Casey’s General Stores in the 1st quarter worth approximately $47,000. 85.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CASY shares. The Goldman Sachs Group upped their price target on Casey’s General Stores from $385.00 to $450.00 and gave the company a “neutral” rating in a research report on Wednesday, June 11th. Royal Bank Of Canada set a $438.00 target price on shares of Casey’s General Stores and gave the stock a “sector perform” rating in a report on Wednesday, March 12th. KeyCorp increased their target price on shares of Casey’s General Stores from $500.00 to $550.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 11th. Wall Street Zen raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Saturday, June 14th. Finally, Stephens reiterated an “overweight” rating and issued a $490.00 price objective on shares of Casey’s General Stores in a research report on Tuesday, June 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $453.00.

Casey’s General Stores Company Profile

Casey’s General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.