Azzad Asset Management Inc. ADV Buys New Holdings in Tractor Supply Company (NASDAQ:TSCO)

Azzad Asset Management Inc. ADV acquired a new position in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 39,783 shares of the specialty retailer's stock, valued at approximately $2,192,000.

A number of other large investors also recently added to or reduced their stakes in TSCO. Vanguard Group Inc. raised its position in shares of Tractor Supply by 392.5% in the fourth quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer's stock valued at $3,397,643,000 after buying an additional 51,031,178 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Tractor Supply by 401.8% in the fourth quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer's stock valued at $1,262,258,000 after buying an additional 19,048,385 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Tractor Supply by 403.3% in the fourth quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer's stock valued at $1,180,932,000 after buying an additional 17,834,643 shares during the last quarter. Capital World Investors raised its position in shares of Tractor Supply by 403.7% in the fourth quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer's stock valued at $1,031,122,000 after buying an additional 15,575,311 shares during the last quarter. Finally, Capital International Investors raised its position in shares of Tractor Supply by 334.7% in the fourth quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer's stock valued at $818,421,000 after buying an additional 11,880,010 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TSCO has been the subject of a number of recent research reports. Mizuho reduced their target price on shares of Tractor Supply from $62.00 to $58.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Telsey Advisory Group set a $60.00 target price on shares of Tractor Supply in a research report on Friday, April 25th. UBS Group set a $54.00 price objective on shares of Tractor Supply in a report on Friday, April 25th. Wall Street Zen lowered shares of Tractor Supply from a "hold" rating to a "sell" rating in a report on Friday, June 6th. Finally, Citigroup dropped their price objective on shares of Tractor Supply from $59.00 to $51.00 and set a "neutral" rating for the company in a report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $58.02.

Insider Activity

In other news, SVP Matthew L. Rubin sold 2,810 shares of the firm's stock in a transaction that occurred 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 transaction, the senior vice president now owns 29,722 shares of the company's stock, valued at approximately $1,538,410.72. This trade represents a 8.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.65% of the company's stock.

Tractor Supply Trading Up 2.0%

TSCO stock traded up $1.02 during mid-day trading on Wednesday, hitting $52.00. 2,514,329 shares of the company were exchanged, compared to its average volume of 5,191,823. The company has a quick ratio of 0.17, a current ratio of 1.41 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $27.57 billion, a P/E ratio of 25.83, a PEG ratio of 2.78 and a beta of 0.74. The business has a fifty day simple moving average of $50.66 and a 200-day simple moving average of $53.27. Tractor Supply Company has a 12-month low of $46.85 and a 12-month high of $61.53.

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 the consensus estimate of $0.37 by ($0.03). Tractor Supply had a net margin of 7.24% and a return on equity of 47.56%. The business had revenue of $3.47 billion during the quarter, compared to analysts' expectations of $3.55 billion. During the same period in the previous year, the business posted $1.83 EPS. The company's revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities research analysts predict that Tractor Supply Company will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.77%. The ex-dividend date was Wednesday, May 28th. Tractor Supply's payout ratio is 45.77%.

About Tractor Supply

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.