Casey’s General Stores (NASDAQ:CASY) CEO Darren Rebelez Sells 19,000 Shares

Casey’s General Stores, Inc. (NASDAQ:CASY) CEO Darren Rebelez sold 19,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $801.46, for a total value of $15,227,740.00. Following the transaction, the chief executive officer owned 89,174 shares in the company, valued at approximately $71,469,394.04. The trade was a 17.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Casey’s General Stores Stock Down 2.5%

Shares of Casey’s General Stores stock opened at $822.00 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 1.01. Casey’s General Stores, Inc. has a 52-week low of $490.00 and a 52-week high of $927.85. The company’s 50 day moving average price is $822.83 and its 200-day moving average price is $721.48. The stock has a market capitalization of $30.42 billion, a price-to-earnings ratio of 42.90, a P/E/G ratio of 2.53 and a beta of 0.62.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $1.06. The company had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.33 billion. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The firm’s revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.63 EPS. Equities research analysts forecast that Casey’s General Stores, Inc. will post 21.14 EPS for the current year.

Casey’s General Stores Increases Dividend

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on CASY shares. Capital One Financial began coverage on Casey’s General Stores in a research report on Monday, June 22nd. They set an “equal weight” rating and a $896.00 price objective on the stock. BNP Paribas Exane lowered their target price on Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating for the company in a research note on Thursday, June 25th. Stephens set a $975.00 price target on Casey’s General Stores and gave the company an “overweight” rating in a research report on Friday, June 12th. The Goldman Sachs Group upped their price target 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. Finally, JPMorgan Chase & Co. increased their price objective on Casey’s General Stores from $719.00 to $975.00 and gave the stock a “neutral” rating in a report on Friday, June 12th. Thirteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $939.29.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Redhawk Wealth Advisors Inc. bought a new position in shares of Casey’s General Stores during the second quarter valued at $1,780,000. First Bank & Trust boosted its stake in Casey’s General Stores by 6.0% in the 2nd quarter. First Bank & Trust now owns 1,476 shares of the company’s stock worth $1,173,000 after purchasing an additional 83 shares in the last quarter. Contravisory Investment Management Inc. grew its position in Casey’s General Stores by 2,431.2% during the 2nd quarter. Contravisory Investment Management Inc. now owns 1,215 shares of the company’s stock valued at $966,000 after purchasing an additional 1,167 shares during the last quarter. Everhart Financial Group Inc. grew its position in Casey’s General Stores by 14.0% during the 2nd quarter. Everhart Financial Group Inc. now owns 366 shares of the company’s stock valued at $291,000 after purchasing an additional 45 shares during the last quarter. Finally, Valeo Financial Advisors LLC increased its stake in Casey’s General Stores by 20.9% during the 2nd quarter. Valeo Financial Advisors LLC now owns 566 shares of the company’s stock valued at $450,000 after purchasing an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

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.