Inspire Investing LLC Grows Stake in Casey’s General Stores, Inc. $CASY

Inspire Investing LLC boosted its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 2.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,224 shares of the company’s stock after purchasing an additional 124 shares during the quarter. Inspire Investing LLC’s holdings in Casey’s General Stores were worth $2,666,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Samlyn Capital LLC increased its holdings in Casey’s General Stores by 42.8% during the 1st quarter. Samlyn Capital LLC now owns 255,659 shares of the company’s stock worth $110,966,000 after purchasing an additional 76,673 shares during the period. Security National Bank increased its holdings in Casey’s General Stores by 9.7% during the 1st quarter. Security National Bank now owns 5,674 shares of the company’s stock worth $2,463,000 after purchasing an additional 504 shares during the period. Cornerstone Wealth Management LLC purchased a new position in Casey’s General Stores during the 1st quarter worth $201,000. M&T Bank Corp increased its holdings in Casey’s General Stores by 39.6% during the 1st quarter. M&T Bank Corp now owns 2,515 shares of the company’s stock worth $1,092,000 after purchasing an additional 713 shares during the period. Finally, Ground Swell Capital LLC purchased a new position in Casey’s General Stores during the 1st quarter worth $338,000. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Casey’s General Stores news, insider Chad Michael Frazell sold 3,487 shares of Casey’s General Stores stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $555.40, for a total transaction of $1,936,679.80. Following the completion of the sale, the insider owned 7,993 shares of the company’s stock, valued at approximately $4,439,312.20. The trade was a 30.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.54% of the company’s stock.

Casey’s General Stores Stock Up 0.8%

Shares of CASY stock opened at $556.67 on Friday. Casey’s General Stores, Inc. has a 1-year low of $372.08 and a 1-year high of $571.57. The stock’s fifty day moving average price is $529.63 and its 200 day moving average price is $493.25. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.03 and a quick ratio of 0.61. The company has a market cap of $20.70 billion, a price-to-earnings ratio of 35.73 and a beta of 0.68.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Monday, September 8th. The company reported $5.77 earnings per share for the quarter, topping the consensus estimate of $5.02 by $0.75. Casey’s General Stores had a return on equity of 16.73% and a net margin of 3.54%.The firm had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.47 billion. During the same period in the previous year, the business earned $4.83 EPS. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, research analysts expect that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Saturday, November 1st will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $2.28 dividend on an annualized basis and a yield of 0.4%. Casey’s General Stores’s payout ratio is currently 14.63%.

Analysts Set New Price Targets

Several research analysts have commented on CASY shares. Stephens restated an “overweight” rating and set a $570.00 price objective on shares of Casey’s General Stores in a report on Wednesday. KeyCorp lifted their price target on Casey’s General Stores from $550.00 to $575.00 and gave the company an “overweight” rating in a report on Friday, July 25th. Wall Street Zen upgraded Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Saturday, June 14th. Jefferies Financial Group lifted their price target on Casey’s General Stores from $575.00 to $600.00 and gave the company a “buy” rating in a report on Tuesday, September 9th. Finally, Wells Fargo & Company lifted their price target on Casey’s General Stores from $540.00 to $580.00 and gave the company an “overweight” rating in a report on Monday, September 8th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $533.10.

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.