Casey’s General Stores director Mike Spanos makes $99,978 stock purchase

In a recent transaction filed with the Securities and Exchange Commission, Mike Spanos, a director at Casey’s General Stores Inc. (NASDAQ:CASY), acquired 256 shares of the company’s common stock. The purchase, valued at approximately $99,978, was executed at a weighted average price of $390.54 per share. According to InvestingPro data, the stock is trading near its 52-week high of $445.17, with a market capitalization of $14.6 billion. This transaction increased Spanos’s direct ownership to 3,356 shares, including shares acquired through a dividend reinvestment plan.

Additionally, Spanos holds 442 restricted stock units, which entitle him to receive an equivalent number of common stock shares upon vesting. These units are part of a non-employee director equity compensation plan and are set to vest at Casey’s 2025 annual shareholder meeting.

This transaction reflects Spanos’s continued investment in Casey’s General Stores, a company known for its retail and gasoline operations across the Midwest. The company demonstrates solid financial performance with revenue growth of 6.56% and maintains a healthy profit margin of 23.3%. Discover more insights and access comprehensive analysis with InvestingPro, which offers 8 additional exclusive tips for Casey’s General Stores.

In other recent news, Casey’s General Stores reported strong financial results for the first quarter of 2025, with earnings per share (EPS) of $2.33, surpassing the forecasted $2.03. The company also exceeded revenue expectations, reporting $3.9 billion against an anticipated $3.76 billion. RBC Capital Markets raised its price target for Casey’s General Stores to $438, citing solid financial results and strategic positioning, while maintaining a Sector Perform rating. Meanwhile, BMO Capital Markets maintained a Market Perform rating with a price target of $450, noting robust growth in inside comparable store sales despite a decline in consumer packaged goods margins. The Fikes/CEFCO acquisition is expected to play a more significant role in Casey’s financials, with analysts anticipating further contributions in future quarters. Casey’s continues to innovate with its product offerings, testing new items like wings in its prepared food lineup. The company also reported a 15.3% growth in inside sales, driven by prepared food and energy drinks. These developments reflect Casey’s ongoing efforts to leverage strategic advantages and enhance its market position.

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