Inspire Advisors LLC Invests $449,000 in Casey’s General Stores, Inc. $CASY

Inspire Advisors LLC purchased a new position in Casey’s General Stores, Inc. (NASDAQ:CASY) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 881 shares of the company’s stock, valued at approximately $449,000.

Several other large investors also recently added to or reduced their stakes in the company. Samlyn Capital LLC lifted its stake in Casey’s General Stores by 42.8% in the first quarter. Samlyn Capital LLC now owns 255,659 shares of the company’s stock valued at $110,966,000 after acquiring an additional 76,673 shares during the last quarter. UNIVEST FINANCIAL Corp grew its position in shares of Casey’s General Stores by 157.2% in the second quarter. UNIVEST FINANCIAL Corp now owns 8,556 shares of the company’s stock valued at $4,366,000 after purchasing an additional 5,230 shares during the last quarter. Ground Swell Capital LLC bought a new position in Casey’s General Stores in the 1st quarter worth approximately $338,000. West Bancorporation Inc. bought a new position in Casey’s General Stores during the second quarter worth $278,000. Finally, Meridian Wealth Management LLC raised its position in shares of Casey’s General Stores by 71.6% during the first quarter. Meridian Wealth Management LLC now owns 1,215 shares of the company’s stock valued at $527,000 after buying an additional 507 shares during the last quarter. 85.63% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Casey’s General Stores

In other news, insider Chad Michael Frazell sold 3,487 shares of the stock in a transaction on Monday, September 29th. The shares were sold at an average price of $555.40, for a total value of $1,936,679.80. Following the transaction, the insider owned 7,993 shares of the company’s stock, valued at $4,439,312.20. This represents a 30.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.54% of the company’s stock.

Casey’s General Stores Stock Performance

NASDAQ:CASY opened at $556.71 on Thursday. The company has a 50 day simple moving average of $546.18 and a two-hundred day simple moving average of $512.43. Casey’s General Stores, Inc. has a fifty-two week low of $372.08 and a fifty-two week high of $572.18. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.61 and a current ratio of 1.03. The company has a market capitalization of $20.70 billion, a PE ratio of 35.73 and a beta of 0.66.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Monday, September 8th. The company reported $5.77 EPS for the quarter, beating analysts’ consensus estimates of $5.02 by $0.75. The firm had revenue of $4.57 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the firm posted $4.83 earnings per share. Research analysts anticipate that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey’s General Stores Announces Dividend

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

Wall Street Analyst Weigh In

CASY has been the subject of a number of analyst reports. Wells Fargo & Company assumed coverage on shares of Casey’s General Stores in a report on Wednesday, October 15th. They set an “overweight” rating and a $610.00 price objective for the company. The Goldman Sachs Group lifted 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 upped their price objective on Casey’s General Stores from $515.00 to $540.00 and gave the stock a “market perform” rating in a report on Wednesday, September 10th. Stephens reaffirmed an “overweight” rating and set a $570.00 price objective on shares of Casey’s General Stores in a research note on Wednesday, October 8th. Finally, Zacks Research raised Casey’s General Stores from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Casey’s General Stores currently has an average rating of “Moderate Buy” and a consensus target price of $564.00.

About Casey’s General Stores

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.