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

Inspire Investing LLC decreased its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 9.6% in the 1st quarter, Holdings Channel reports. The institutional investor owned 5,100 shares of the company’s stock after selling 542 shares during the period. Inspire Investing LLC’s holdings in Casey’s General Stores were worth $2,214,000 at the end of the most recent quarter.

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

Casey’s General Stores Stock Performance

Casey’s General Stores stock opened at $553.99 on Friday. The stock’s 50 day moving average price is $515.51 and its 200 day moving average price is $471.14. The firm has a market capitalization of $20.60 billion, a PE ratio of 35.56 and a beta of 0.66. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.48 and a current ratio of 1.03. Casey’s General Stores, Inc. has a one year low of $362.42 and a one year high of $557.38.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Monday, September 8th. The company reported $5.77 EPS for the quarter, topping the consensus estimate of $5.02 by $0.75. The firm had revenue of $4.57 billion for 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%.Casey’s General Stores’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the previous year, the company posted $4.83 EPS. As a group, sell-side analysts expect that Casey’s General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey’s General Stores Dividend Announcement

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

Insider Activity at Casey’s General Stores

In other Casey’s General Stores news, insider Katrina S. Lindsey sold 2,000 shares of Casey’s General Stores stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $506.07, for a total transaction of $1,012,140.00. Following the sale, the insider directly owned 4,636 shares in the company, valued at $2,346,140.52. The trade was a 30.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mike Spanos acquired 200 shares of the company’s stock in a transaction on Monday, June 30th. The shares were acquired at an average price of $503.18 per share, for a total transaction of $100,636.00. Following the completion of the acquisition, the director directly owned 3,560 shares in the company, valued at $1,791,320.80. The trade was a 5.95% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 42,646 shares of company stock worth $21,634,454 over the last ninety days. Company insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on CASY. Wall Street Zen raised Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. The Goldman Sachs Group lifted their price objective on Casey’s General Stores from $450.00 to $490.00 and gave the company a “neutral” rating in a research note on Wednesday. Jefferies Financial Group lifted their price objective on Casey’s General Stores from $575.00 to $600.00 and gave the company a “buy” rating in a research note on Tuesday. Evercore ISI lifted their price objective on Casey’s General Stores from $560.00 to $580.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Wells Fargo & Company boosted their price target on Casey’s General Stores from $540.00 to $580.00 and gave the stock an “overweight” rating in a research report on Monday. Eight research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Casey’s General Stores has a consensus rating of “Moderate Buy” and an average price target of $505.25.

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.