14,300 Shares in Tractor Supply Company (NASDAQ:TSCO) Bought by Arrowpoint Investment Partners Singapore Pte. Ltd.

Key Points

• Arrowpoint Investment Partners Singapore acquired 14,300 shares of Tractor Supply Company (NASDAQ:TSCO) in the first quarter, valued at approximately $788,000.
• A significant number of institutional investors have increased their stakes in Tractor Supply, with 98.72% of the stock now owned by such investors.
• Tractor Supply recently declared a quarterly dividend of $0.23 per share, with an annualized yield of 1.5%, set to be paid on September 9th.

Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new stake in Tractor Supply Company (NASDAQ:TSCO - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 14,300 shares of the specialty retailer's stock, valued at approximately $788,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FORA Capital LLC increased its position in Tractor Supply by 434.1% in the 4th quarter. FORA Capital LLC now owns 35,526 shares of the specialty retailer's stock valued at $1,885,000 after acquiring an additional 28,875 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Tractor Supply by 7.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 70,944 shares of the specialty retailer's stock valued at $3,911,000 after acquiring an additional 5,184 shares in the last quarter. Sowell Financial Services LLC increased its position in Tractor Supply by 49.3% in the 1st quarter. Sowell Financial Services LLC now owns 20,029 shares of the specialty retailer's stock valued at $1,104,000 after acquiring an additional 6,612 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in Tractor Supply by 9.2% in the 1st quarter. Sequoia Financial Advisors LLC now owns 112,233 shares of the specialty retailer's stock valued at $6,184,000 after acquiring an additional 9,483 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in Tractor Supply by 27.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 319,132 shares of the specialty retailer's stock valued at $17,584,000 after acquiring an additional 68,487 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company's stock.

Tractor Supply Stock Down 0.1%

TSCO traded down $0.04 during trading on Thursday, reaching $59.69. The company had a trading volume of 3,984,236 shares, compared to its average volume of 5,612,222. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.28 and a quick ratio of 0.16. Tractor Supply Company has a 12 month low of $46.85 and a 12 month high of $63.99. The business's fifty day moving average price is $55.67 and its 200 day moving average price is $53.75. The company has a market cap of $31.63 billion, a P/E ratio of 29.29, a PEG ratio of 3.05 and a beta of 0.75.

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

Tractor Supply Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Monday, August 25th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Monday, August 25th. This represents a $0.92 dividend on an annualized basis and a yield of 1.5%. Tractor Supply's payout ratio is presently 45.10%.

Analysts Set New Price Targets

Several brokerages have recently commented on TSCO. Citigroup lowered their price target on shares of Tractor Supply from $59.00 to $51.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. Guggenheim lowered their price target on shares of Tractor Supply from $60.00 to $55.00 and set a "buy" rating for the company in a research report on Friday, April 25th. DA Davidson lifted their price target on shares of Tractor Supply from $65.00 to $70.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Wall Street Zen upgraded shares of Tractor Supply from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Piper Sandler lifted their price target on shares of Tractor Supply from $66.00 to $67.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Nine analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $61.80.

Insider Transactions at Tractor Supply

In other news, CFO Kurt D. Barton sold 90,000 shares of the business's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $63.96, for a total value of $5,756,400.00. Following the sale, the chief financial officer owned 47,715 shares of the company's stock, valued at $3,051,851.40. The trade was a 65.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jonathan S. Estep sold 56,630 shares of the business's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $53.00, for a total transaction of $3,001,390.00. Following the completion of the sale, the executive vice president directly owned 74,605 shares in the company, valued at approximately $3,954,065. This represents a 43.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 204,680 shares of company stock valued at $12,071,552. 0.65% of the stock is currently owned by insiders.

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.