Inspire Investing LLC Raises Stock Holdings in Casey’s General Stores, Inc. $CASY

Inspire Investing LLC increased its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 2.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Wellington Management Group LLP grew its position in shares of Casey’s General Stores by 190.6% during the first quarter. Wellington Management Group LLP now owns 1,244,311 shares of the company’s stock worth $540,081,000 after purchasing an additional 816,110 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Casey’s General Stores by 42.0% during the first quarter. JPMorgan Chase & Co. now owns 1,036,426 shares of the company’s stock worth $449,851,000 after purchasing an additional 306,628 shares in the last quarter. Raymond James Financial Inc. grew its position in shares of Casey’s General Stores by 8.9% during the first quarter. Raymond James Financial Inc. now owns 649,815 shares of the company’s stock worth $282,045,000 after purchasing an additional 52,939 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Casey’s General Stores by 51.5% during the first quarter. Bank of New York Mellon Corp now owns 515,603 shares of the company’s stock worth $223,792,000 after purchasing an additional 175,372 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Casey’s General Stores by 0.6% during the first quarter. Northern Trust Corp now owns 334,445 shares of the company’s stock worth $145,163,000 after purchasing an additional 1,941 shares in the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Insider Activity

In related news, insider Chad Michael Frazell sold 3,487 shares of the firm’s stock in a transaction that occurred on 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 directly owned 7,993 shares of the company’s stock, valued at approximately $4,439,312.20. This trade represents a 30.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.54% of the company’s stock.

Casey’s General Stores Price Performance

NASDAQ:CASY opened at $556.67 on Friday. The firm has a market capitalization of $20.70 billion, a price-to-earnings ratio of 35.73 and a beta of 0.68. Casey’s General Stores, Inc. has a 1 year low of $372.08 and a 1 year high of $571.57. The business has a 50 day simple moving average of $529.63 and a 200-day simple moving average of $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.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Monday, September 8th. The company reported $5.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.02 by $0.75. The business had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.47 billion. Casey’s General Stores had a return on equity of 16.73% and a net margin of 3.54%.The company’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period last year, the company earned $4.83 EPS. Equities analysts forecast that Casey’s General Stores, Inc. will post 13.94 EPS for the current year.

Casey’s General Stores Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have weighed in on CASY shares. The Goldman Sachs Group raised their price target on Casey’s General Stores from $450.00 to $490.00 and gave the company a “neutral” rating in a report on Wednesday, September 10th. BMO Capital Markets raised their price target on Casey’s General Stores from $515.00 to $540.00 and gave the company a “market perform” rating in a report on Wednesday, September 10th. Weiss Ratings restated a “buy (b)” rating on shares of Casey’s General Stores in a report on Wednesday. KeyCorp raised 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. Finally, Evercore ISI raised their price target on Casey’s General Stores from $560.00 to $580.00 and gave the company an “outperform” rating in a report on Wednesday, September 10th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $533.10.

Casey’s General Stores 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.