Castellan Group purchased a new position in Tractor Supply Company (NASDAQ:TSCO - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 227,261 shares of the specialty retailer's stock, valued at approximately $12,522,000. Tractor Supply makes up about 3.5% of Castellan Group's holdings, making the stock its 5th largest position.
Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Capital World Investors lifted its stake 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 worth $1,031,122,000 after buying an additional 15,575,311 shares in the last quarter. Capital International Investors raised its stake in Tractor Supply by 334.7% during the fourth quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer's stock worth $818,421,000 after purchasing an additional 11,880,010 shares during the period. Geode Capital Management LLC raised its stake in Tractor Supply by 403.2% during the fourth quarter. Geode Capital Management LLC now owns 14,519,937 shares of the specialty retailer's stock worth $768,838,000 after purchasing an additional 11,634,249 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Tractor Supply by 287.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,417,152 shares of the specialty retailer's stock worth $552,735,000 after purchasing an additional 7,729,628 shares during the period. Finally, Invesco Ltd. raised its stake in Tractor Supply by 407.9% during the fourth quarter. Invesco Ltd. now owns 8,766,224 shares of the specialty retailer's stock worth $465,136,000 after purchasing an additional 7,040,165 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 Tractor Supply news, SVP Noni L. Ellison sold 5,200 shares of the business's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $63.96, for a total transaction of $332,592.00. Following the completion of the transaction, the senior vice president owned 28,639 shares in the company, valued at $1,831,750.44. The trade was a 15.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jonathan S. Estep sold 56,630 shares of the company's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $53.00, for a total transaction of $3,001,390.00. Following the completion of the transaction, the executive vice president owned 74,605 shares of the company's stock, valued at approximately $3,954,065. The trade was a 43.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 207,490 shares of company stock worth $12,216,998 over the last ninety days. 0.65% of the stock is currently owned by insiders.
Tractor Supply Trading Down 1.5%
NASDAQ TSCO opened at $56.95 on Friday. The company has a quick ratio of 0.16, a current ratio of 1.28 and a debt-to-equity ratio of 0.68. Tractor Supply Company has a 52 week low of $46.85 and a 52 week high of $63.99. The stock has a market capitalization of $30.20 billion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 2.97 and a beta of 0.75. The firm has a 50 day moving average of $53.82 and a two-hundred day moving average of $53.49.
Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted 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 net margin of 7.18% and a return on equity of 46.83%. The company had revenue of $4.44 billion during the quarter, compared to analysts' expectations of $4.40 billion. During the same quarter in the previous year, the business posted $3.93 EPS. The firm's revenue was up 4.5% on a year-over-year basis. As a group, research analysts expect that Tractor Supply Company will post 2.17 EPS for the current fiscal year.
Tractor Supply Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.6%. The ex-dividend date was Wednesday, May 28th. Tractor Supply's payout ratio is 45.10%.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the stock. Telsey Advisory Group set a $70.00 target price on shares of Tractor Supply in a research note on Friday, July 25th. Mizuho reduced their target price on shares of Tractor Supply from $62.00 to $58.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Tractor Supply in a research note on Friday, July 25th. Robert W. Baird lifted their target price on shares of Tractor Supply from $56.00 to $61.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Finally, Wall Street Zen raised shares of Tractor Supply from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $61.80.
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About Tractor Supply
(
Free Report)
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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