Allspring Global Investments Holdings LLC Acquires 5,184 Shares of Tractor Supply Company (NASDAQ:TSCO)

Allspring Global Investments Holdings LLC grew its position in Tractor Supply Company (NASDAQ:TSCO - Free Report) by 7.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 70,944 shares of the specialty retailer's stock after buying an additional 5,184 shares during the period. Allspring Global Investments Holdings LLC's holdings in Tractor Supply were worth $3,911,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Wedmont Private Capital raised its holdings in shares of Tractor Supply by 2.5% in the first quarter. Wedmont Private Capital now owns 8,714 shares of the specialty retailer's stock valued at $450,000 after purchasing an additional 212 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its position in Tractor Supply by 30.1% during the first quarter. Creative Financial Designs Inc. ADV now owns 920 shares of the specialty retailer's stock worth $51,000 after purchasing an additional 213 shares during the period. Procyon Advisors LLC increased its holdings in shares of Tractor Supply by 1.7% in the first quarter. Procyon Advisors LLC now owns 14,371 shares of the specialty retailer's stock valued at $792,000 after purchasing an additional 238 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Tractor Supply by 5.5% in the first quarter. International Assets Investment Management LLC now owns 4,678 shares of the specialty retailer's stock valued at $258,000 after purchasing an additional 242 shares during the period. Finally, Family Legacy Inc. boosted its holdings in shares of Tractor Supply by 1.7% during the first quarter. Family Legacy Inc. now owns 17,157 shares of the specialty retailer's stock worth $945,000 after acquiring an additional 281 shares during the period. Institutional investors and hedge funds own 98.72% of the company's stock.

Tractor Supply Trading Up 3.9%

Shares of Tractor Supply stock traded up $2.13 on Monday, hitting $56.76. The stock had a trading volume of 8,824,856 shares, compared to its average volume of 5,164,456. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.17 and a current ratio of 1.41. Tractor Supply Company has a twelve month low of $46.85 and a twelve month high of $61.53. The firm has a market capitalization of $30.09 billion, a P/E ratio of 28.18, a PEG ratio of 2.94 and a beta of 0.75. The stock has a 50 day moving average of $51.36 and a 200 day moving average of $52.98.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.03). Tractor Supply had a net margin of 7.24% and a return on equity of 47.56%. The firm had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.55 billion. During the same period in the prior year, the company posted $1.83 earnings per share. The company's revenue for the quarter was up 2.1% compared to the same quarter last year. Sell-side analysts expect that Tractor Supply Company will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.62%. Tractor Supply's payout ratio is presently 45.77%.

Insider Transactions at Tractor Supply

In other Tractor Supply news, EVP Jonathan S. Estep sold 56,630 shares of the business's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $53.00, for a total value of $3,001,390.00. Following the transaction, the executive vice president directly owned 74,605 shares in the company, valued at $3,954,065. The trade was a 43.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Matthew L. Rubin sold 2,810 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total value of $145,445.60. Following the completion of the sale, the senior vice president owned 29,722 shares in the company, valued at approximately $1,538,410.72. The trade was a 8.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.65% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on TSCO shares. Mizuho dropped their target price on Tractor Supply from $62.00 to $58.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Raymond James Financial cut their price objective on shares of Tractor Supply from $61.00 to $57.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Guggenheim lowered their target price on shares of Tractor Supply from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Stephens started coverage on Tractor Supply in a research note on Wednesday, April 9th. They issued an "equal weight" rating and a $56.00 price target for the company. Finally, Citigroup reduced their price target on Tractor Supply from $59.00 to $51.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Tractor Supply currently has an average rating of "Moderate Buy" and an average price target of $58.02.

Tractor Supply 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.