ASR Vermogensbeheer N.V. Acquires New Holdings in Tractor Supply Company (NASDAQ:TSCO)

Key Points

• ASR Vermogensbeheer N.V. acquired a new stake in Tractor Supply Company, purchasing 83,333 shares valued at approximately $4.59 million.
• The stock has seen a significant increase in institutional ownership, with over 98% of shares held by institutional investors and hedge funds.
• Recent analysts' ratings suggest a positive outlook for Tractor Supply, with multiple firms raising their target prices, resulting in a consensus rating of "Moderate Buy" and a target price of $61.80.

ASR Vermogensbeheer N.V. bought a new stake in Tractor Supply Company (NASDAQ:TSCO - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 83,333 shares of the specialty retailer's stock, valued at approximately $4,591,000.

Several other institutional investors also recently bought and sold shares of TSCO. Capital World Investors grew its position in Tractor Supply by 403.7% in the 4th quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer's stock valued at $1,031,122,000 after acquiring an additional 15,575,311 shares in the last quarter. Capital International Investors grew its position in Tractor Supply by 334.7% in the 4th quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer's stock valued at $818,421,000 after acquiring an additional 11,880,010 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Tractor Supply by 287.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,417,152 shares of the specialty retailer's stock valued at $552,735,000 after acquiring an additional 7,729,628 shares in the last quarter. Stifel Financial Corp grew its position in Tractor Supply by 398.6% in the 4th quarter. Stifel Financial Corp now owns 8,233,999 shares of the specialty retailer's stock valued at $436,899,000 after acquiring an additional 6,582,562 shares in the last quarter. Finally, Select Equity Group L.P. grew its position in Tractor Supply by 405.6% in the 4th quarter. Select Equity Group L.P. now owns 7,669,224 shares of the specialty retailer's stock valued at $406,929,000 after acquiring an additional 6,152,333 shares in the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TSCO. Raymond James Financial reaffirmed an "outperform" rating and issued a $65.00 target price (up from $57.00) on shares of Tractor Supply in a research report on Friday, July 25th. JPMorgan Chase & Co. lifted their target price on Tractor Supply from $56.00 to $65.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Truist Financial lifted their target price on Tractor Supply from $60.00 to $66.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Evercore ISI lifted their target price on Tractor Supply from $60.00 to $65.00 and gave the company an "in-line" rating in a research report on Friday, July 25th. Finally, Guggenheim cut their target price on shares of Tractor Supply from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.80.

Tractor Supply Price Performance

TSCO stock opened at $60.02 on Friday. The company has a market capitalization of $31.82 billion, a P/E ratio of 29.45, a PEG ratio of 3.10 and a beta of 0.75. Tractor Supply Company has a twelve month low of $46.85 and a twelve month high of $63.99. The business has a 50 day simple moving average of $54.80 and a 200-day simple moving average of $53.69. The company has a current ratio of 1.28, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The specialty retailer reported $0.81 EPS for the quarter, topping the consensus estimate of $0.80 by $0.01. Tractor Supply had a return on equity of 46.83% and a net margin of 7.18%. The business had revenue of $4.44 billion during the quarter, compared to analysts' expectations of $4.40 billion. During the same quarter in the prior year, the business earned $3.93 earnings per share. The company's quarterly revenue was up 4.5% compared to the same quarter last year. As a group, 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. Stockholders of record on Monday, August 25th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.5%. Tractor Supply's dividend payout ratio (DPR) is presently 45.10%.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, EVP Colin Yankee sold 6,680 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $58.40, for a total value of $390,112.00. Following the completion of the transaction, the executive vice president owned 40,142 shares in the company, valued at approximately $2,344,292.80. This represents a 14.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jonathan S. Estep sold 35,825 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $56.00, for a total value of $2,006,200.00. Following the completion of the transaction, the executive vice president owned 74,605 shares of the company's stock, valued at $4,177,880. The trade was a 32.44% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 207,490 shares of company stock valued at $12,216,998. Corporate insiders own 0.65% of the company's stock.

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.

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