Casey’s General Stores, Inc. $CASY Stock: Inspire Investing LLC Decreases Stake

Inspire Investing LLC trimmed its stake in Casey’s General Stores, Inc. (NASDAQ:CASY) by 11.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,930 shares of the company’s stock after selling 1,453 shares during the quarter. Inspire Investing LLC’s holdings in Casey’s General Stores were worth $6,650,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CASY. Yousif Capital Management LLC raised its stake in shares of Casey’s General Stores by 4.2% during the 3rd quarter. Yousif Capital Management LLC now owns 2,638 shares of the company’s stock worth $1,605,000 after purchasing an additional 107 shares in the last quarter. Root Financial Partners LLC acquired a new stake in shares of Casey’s General Stores in the 3rd quarter valued at approximately $91,000. Precedent Wealth Partners LLC boosted its holdings in shares of Casey’s General Stores by 20.1% in the 3rd quarter. Precedent Wealth Partners LLC now owns 644 shares of the company’s stock valued at $392,000 after buying an additional 108 shares during the last quarter. SBI Securities Co. Ltd. grew its stake in shares of Casey’s General Stores by 51.4% in the third quarter. SBI Securities Co. Ltd. now owns 159 shares of the company’s stock valued at $97,000 after buying an additional 54 shares in the last quarter. Finally, Arwa LLC grew its stake in shares of Casey’s General Stores by 11.6% in the third quarter. Arwa LLC now owns 1,750 shares of the company’s stock valued at $1,123,000 after buying an additional 182 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Trading Down 2.0%

Shares of Casey’s General Stores stock opened at $699.26 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.61. The business has a fifty day simple moving average of $686.97 and a two-hundred day simple moving average of $773.16. Casey’s General Stores, Inc. has a 1 year low of $497.38 and a 1 year high of $927.85. The company has a market capitalization of $25.84 billion, a price-to-earnings ratio of 33.68, a P/E/G ratio of 2.31 and a beta of 0.59.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Tuesday, September 8th. The company reported $7.37 EPS for the quarter, beating the consensus estimate of $6.78 by $0.59. The firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.56 billion. Casey’s General Stores had a net margin of 4.14% and a return on equity of 19.68%. The company’s quarterly revenue was up 24.3% on a year-over-year basis. During the same period in the previous year, the company earned $5.77 earnings per share. Research analysts forecast that Casey’s General Stores, Inc. will post 21.61 EPS for the current year.

Casey’s General Stores Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Sunday, November 1st will be paid a $0.65 dividend. The ex-dividend date is Friday, October 30th. This represents a $2.60 dividend on an annualized basis and a yield of 0.4%. Casey’s General Stores’s dividend payout ratio is 12.52%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CASY. Northcoast Research upgraded shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $950.00 target price on the stock in a report on Monday, July 13th. Raymond James Financial upgraded shares of Casey’s General Stores from a “market perform” rating to an “outperform” rating and set a $750.00 price target for the company in a research note on Thursday, September 10th. JPMorgan Chase & Co. decreased their price objective on shares of Casey’s General Stores from $975.00 to $833.00 and set a “neutral” rating for the company in a research report on Thursday, September 3rd. The Goldman Sachs Group set a $750.00 price objective on shares of Casey’s General Stores in a research note on Wednesday, September 9th. Finally, Stephens set a $750.00 target price on shares of Casey’s General Stores in a report on Thursday, September 10th. Sixteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Casey’s General Stores has a consensus rating of “Moderate Buy” and a consensus price target of $835.38.

Casey’s General Stores 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.