Maxi Investments CY Ltd Invests $2.48 Million in Tractor Supply Company (NASDAQ:TSCO)

Key Points

• Maxi Investments CY Ltd has acquired 45,000 shares of Tractor Supply Company (NASDAQ:TSCO), valued at approximately $2.48 million, indicating growing institutional interest in the retailer.
• Several hedge funds, including Capital World Investors and Invesco Ltd, significantly increased their stakes in TSCO during the last quarter, with ownership among institutional investors now at 98.72%.
• Tractor Supply reported a Q2 earnings per share of $0.81, exceeding estimates, with revenue rising 4.5% year-over-year, while facing notable insider selling activity.

Maxi Investments CY Ltd purchased a new position in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 45,000 shares of the specialty retailer's stock, valued at approximately $2,480,000.

Several other institutional investors also recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership acquired a new stake in Tractor Supply in the fourth quarter valued at $2,005,000. Landscape Capital Management L.L.C. increased its holdings in Tractor Supply by 153.3% in the fourth quarter. Landscape Capital Management L.L.C. now owns 14,213 shares of the specialty retailer's stock valued at $754,000 after purchasing an additional 8,601 shares during the period. Resona Asset Management Co. Ltd. acquired a new stake in Tractor Supply in the fourth quarter valued at $9,363,000. Dynamic Technology Lab Private Ltd increased its holdings in Tractor Supply by 82.6% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 7,850 shares of the specialty retailer's stock valued at $417,000 after purchasing an additional 3,550 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in Tractor Supply by 927.7% in the fourth quarter. Russell Investments Group Ltd. now owns 379,785 shares of the specialty retailer's stock valued at $20,137,000 after purchasing an additional 342,831 shares during the period. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Tractor Supply Stock Up 0.8%

NASDAQ:TSCO traded up $0.48 on Wednesday, hitting $60.25. The stock had a trading volume of 3,830,440 shares, compared to its average volume of 6,103,175. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 1.28. The stock has a market cap of $31.94 billion, a P/E ratio of 29.56, a price-to-earnings-growth ratio of 3.07 and a beta of 0.75. Tractor Supply Company has a 1 year low of $46.85 and a 1 year high of $63.99. The firm's fifty day simple moving average is $54.58 and its two-hundred day simple moving average is $53.65.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The specialty retailer reported $0.81 EPS for the quarter, beating the consensus estimate of $0.80 by $0.01. The firm had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.40 billion. Tractor Supply had a net margin of 7.18% and a return on equity of 46.83%. The company's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the business posted $3.93 EPS. Analysts predict that Tractor Supply Company will post 2.17 earnings per share for the current year.

Tractor Supply Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were paid a $0.23 dividend. The ex-dividend date was Wednesday, May 28th. This represents a $0.92 annualized dividend and a yield of 1.5%. Tractor Supply's dividend payout ratio (DPR) is 45.10%.

Insider Transactions at Tractor Supply

In other Tractor Supply news, EVP Jonathan S. Estep sold 35,825 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $56.00, for a total value of $2,006,200.00. Following the completion of the sale, the executive vice president owned 74,605 shares in the company, valued at approximately $4,177,880. This trade represents a 32.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kurt D. Barton sold 90,000 shares of the stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $63.96, for a total transaction of $5,756,400.00. Following the completion of the sale, the chief financial officer owned 47,715 shares of the company's stock, valued at approximately $3,051,851.40. This trade represents a 65.35% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 207,490 shares of company stock worth $12,216,998. Company insiders own 0.65% of the company's stock.

Analyst Ratings Changes

TSCO has been the topic of a number of research analyst reports. Robert W. Baird upped their price target on shares of Tractor Supply from $56.00 to $61.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Truist Financial upped their price target on shares of Tractor Supply from $60.00 to $66.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Stephens initiated coverage on shares of Tractor Supply in a research report on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 price target on the stock. UBS Group upped their price target on shares of Tractor Supply from $54.00 to $61.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Finally, Loop Capital upped their price target on shares of Tractor Supply from $48.00 to $60.00 and gave the company a "hold" rating in a research report on Friday, July 25th. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $61.80.

Tractor Supply Company Profile

Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company offers various merchandise, including livestock and equine feed and equipment, poultry, fencing, and sprayers and chemicals; food, treats, and equipment for dogs, cats, and other small animals, as well as dog wellness products; seasonal and recreation products comprising tractors and riders, lawn and garden, bird feeding, power equipment, and other recreational products; truck, tool, and hardware products, such as truck accessories, trailers, generators, lubricants, batteries, and hardware and tools; and clothing, gift, and décor products consist of clothing, footwear, toys, snacks, and decorative merchandise.