Banque Cantonale Vaudoise Makes New Investment in Tractor Supply Company (NASDAQ:TSCO)

Key Points

• Banque Cantonale Vaudoise has made a new investment of $1.81 million in Tractor Supply Company, acquiring approximately 32,770 shares in the first quarter.
• During the fourth quarter, several institutional investors significantly increased their holdings in Tractor Supply, with Korea Investment CORP raising its stake by 459.7%.
• Tractor Supply recently reported a net margin of 7.18% and a quarterly revenue increase of 4.5% year-over-year, with earnings per share coming in at $0.81.

Banque Cantonale Vaudoise acquired a new position in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 32,770 shares of the specialty retailer's stock, valued at approximately $1,806,000.

A number of other hedge funds have also recently bought and sold shares of TSCO. Korea Investment CORP boosted its holdings in Tractor Supply by 459.7% during the 4th quarter. Korea Investment CORP now owns 87,600 shares of the specialty retailer's stock worth $4,648,000 after acquiring an additional 71,949 shares during the last quarter. Orion Portfolio Solutions LLC raised its stake in shares of Tractor Supply by 391.3% during the 4th quarter. Orion Portfolio Solutions LLC now owns 49,184 shares of the specialty retailer's stock worth $2,610,000 after purchasing an additional 39,174 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of Tractor Supply during the 4th quarter worth $2,005,000. California Public Employees Retirement System raised its stake in shares of Tractor Supply by 394.6% during the 4th quarter. California Public Employees Retirement System now owns 1,273,508 shares of the specialty retailer's stock worth $67,572,000 after purchasing an additional 1,016,031 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of Tractor Supply by 459.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 72,537 shares of the specialty retailer's stock worth $3,849,000 after purchasing an additional 59,579 shares during the period. 98.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tractor Supply

In other news, CFO Kurt D. Barton sold 90,000 shares of the business's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $63.96, for a total transaction of $5,756,400.00. Following the completion of the transaction, the chief financial officer owned 47,715 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Denise L. Jackson sold 4,630 shares of the business's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $55.93, for a total value of $258,955.90. Following the transaction, the director directly owned 35,288 shares of the company's stock, valued at $1,973,657.84. The trade was a 11.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 207,490 shares of company stock valued at $12,216,998 in the last ninety days. Insiders own 0.65% of the company's stock.

Tractor Supply Price Performance

Shares of TSCO traded up $0.68 during midday trading on Friday, hitting $57.63. 5,505,274 shares of the company traded hands, compared to its average volume of 6,097,455. The stock has a 50-day moving average of $53.97 and a 200-day moving average of $53.52. Tractor Supply Company has a one year low of $46.85 and a one year high of $63.99. The firm has a market cap of $30.56 billion, a P/E ratio of 28.28, a PEG ratio of 2.93 and a beta of 0.75. 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 (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 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 firm had revenue of $4.44 billion for the quarter, compared to analysts' expectations of $4.40 billion. During the same period in the prior year, the business posted $3.93 earnings per share. The company's revenue was up 4.5% on a year-over-year basis. As a group, sell-side analysts predict that Tractor Supply Company will post 2.17 EPS 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 issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.92 annualized dividend and a dividend yield of 1.6%. Tractor Supply's payout ratio is presently 45.10%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on TSCO shares. Bank of America upgraded Tractor Supply from an "underperform" rating to a "buy" rating and set a $70.00 target price on the stock in a research note on Thursday, July 24th. Raymond James Financial reiterated an "outperform" rating and set a $65.00 target price (up from $57.00) on shares of Tractor Supply in a research note on Friday, July 25th. The Goldman Sachs Group reiterated a "buy" rating on shares of Tractor Supply in a research note on Friday, July 25th. UBS Group lifted their target price on Tractor Supply from $54.00 to $61.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Finally, Truist Financial lifted their target price on Tractor Supply from $60.00 to $66.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Tractor Supply presently has an average rating of "Moderate Buy" and an average target price of $61.80.

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.