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

Inspire Investing LLC grew its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 13.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 10,283 shares of the company’s stock after acquiring an additional 1,193 shares during the quarter. Casey’s General Stores comprises approximately 0.6% of Inspire Investing LLC’s holdings, making the stock its 23rd largest holding. Inspire Investing LLC’s holdings in Casey’s General Stores were worth $7,485,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Geode Capital Management LLC raised its position in shares of Casey’s General Stores by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 760,438 shares of the company’s stock valued at $420,416,000 after buying an additional 52,250 shares in the last quarter. North Dakota State Investment Board bought a new stake in Casey’s General Stores during the fourth quarter worth approximately $720,000. Burns J W & Co. Inc. NY raised its position in Casey’s General Stores by 103.5% during the first quarter. Burns J W & Co. Inc. NY now owns 2,448 shares of the company’s stock valued at $1,782,000 after purchasing an additional 1,245 shares during the period. Jackson Creek Investment Advisors LLC bought a new stake in shares of Casey’s General Stores in the 4th quarter valued at approximately $1,338,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Casey’s General Stores by 2.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 140,491 shares of the company’s stock worth $77,651,000 after purchasing an additional 3,553 shares during the period. Institutional investors own 85.63% of the company’s stock.

Key Headlines Impacting Casey’s General Stores

Here are the key news stories impacting Casey’s General Stores this week:

• Positive Sentiment: Director Mike Spanos purchased 256 shares of Casey’s General Stores at $778.81 per share, a disclosure that can signal insider confidence in the company’s outlook. Insider Buying: Casey’s General Stores (NASDAQ:CASY) Director Purchases 256 Shares of Stock
• Positive Sentiment: BMO Capital Markets upgraded Casey’s General Stores to outperform and lifted its price target to $950, reinforcing the view that the stock still has upside from current levels. This Caseys Analyst Turns Bullish; Here Are Top 3 Upgrades For Monday
• Positive Sentiment: The company increased its quarterly dividend to $0.65 per share from $0.57, which may appeal to income-focused investors and suggests confidence in cash generation. Dividend Increases: From Over 10% Yields to Over 10% Dividend Growth
• Neutral Sentiment: Casey’s also got mentions in stock-picking and dividend-screening articles, which may add some attention but do not appear to be material catalysts on their own. Is Casey’s General Stores, Inc. (CASY) A Good Stock To Buy Now?
• Negative Sentiment: Some analysts remain cautious: Zacks Research downgraded the stock to hold, and RBC’s rating is only sector perform, which tempers the bullish case. Casey’s General Stores stock and analyst coverage

Insider Activity at Casey’s General Stores

In other news, Director Mike Spanos acquired 256 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The stock was purchased at an average cost of $778.81 per share, for a total transaction of $199,375.36. Following the completion of the acquisition, the director directly owned 4,758 shares of the company’s stock, valued at $3,705,577.98. The trade was a 5.69% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

CASY has been the topic of several recent research reports. The Goldman Sachs Group increased their price target on Casey’s General Stores from $695.00 to $795.00 and gave the company a “neutral” rating in a report on Thursday. JPMorgan Chase & Co. increased their target price on shares of Casey’s General Stores from $719.00 to $975.00 and gave the company a “neutral” rating in a research note on Friday, June 12th. Royal Bank Of Canada lifted their price target on shares of Casey’s General Stores from $794.00 to $850.00 and gave the stock a “sector perform” rating in a research note on Thursday. Weiss Ratings reissued a “buy (b)” rating on shares of Casey’s General Stores in a research report on Wednesday, June 24th. Finally, BNP Paribas Exane dropped their target price on Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating for the company in a research report on Thursday, June 25th. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Casey’s General Stores presently has a consensus rating of “Moderate Buy” and an average target price of $939.29.

Casey’s General Stores Price Performance

Shares of CASY stock opened at $780.24 on Tuesday. The company has a market capitalization of $28.87 billion, a P/E ratio of 40.72, a P/E/G ratio of 2.34 and a beta of 0.61. The company’s 50-day simple moving average is $819.20 and its two-hundred day simple moving average is $706.89. Casey’s General Stores, Inc. has a one year low of $490.00 and a one year high of $927.85. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, beating the consensus estimate of $3.31 by $1.06. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The firm had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter in the previous year, the firm posted $2.63 earnings per share. The company’s revenue was up 14.5% on a year-over-year basis. As a group, equities analysts anticipate that Casey’s General Stores, Inc. will post 21.05 EPS for the current year.

Casey’s General Stores Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Saturday, August 1st will be paid a dividend of $0.65 per share. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.57. This represents a $2.60 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, July 31st. Casey’s General Stores’s payout ratio is 13.57%.

Casey’s General Stores Company 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.