Charles Schwab Investment Management Inc. Raises Stock Holdings in Tractor Supply Company (NASDAQ:TSCO)

Key Points

• Charles Schwab Investment Management Inc. has increased its holdings in Tractor Supply Company by 1.6%, now owning approximately 3.3 million shares valued at $181.7 million.
• A number of analysts have raised their price targets for Tractor Supply, with JPMorgan increasing it from $56 to $65, while DA Davidson raised theirs from $65 to $70, reflecting a bullish outlook on the stock.
• Tractor Supply recently announced a quarterly dividend of $0.23 per share, representing an annualized yield of 1.6%, expected to be paid to investors on September 9th.

Charles Schwab Investment Management Inc. raised its stake in Tractor Supply Company (NASDAQ:TSCO - Free Report) by 1.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,297,387 shares of the specialty retailer's stock after acquiring an additional 53,190 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.62% of Tractor Supply worth $181,686,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Coppell Advisory Solutions LLC grew its stake in shares of Tractor Supply by 944.4% in the fourth quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer's stock worth $25,000 after acquiring an additional 425 shares during the last quarter. GW&K Investment Management LLC grew its stake in shares of Tractor Supply by 89.3% in the first quarter. GW&K Investment Management LLC now owns 479 shares of the specialty retailer's stock worth $26,000 after acquiring an additional 226 shares during the last quarter. Dunhill Financial LLC grew its stake in shares of Tractor Supply by 325.8% in the fourth quarter. Dunhill Financial LLC now owns 511 shares of the specialty retailer's stock worth $27,000 after acquiring an additional 391 shares during the last quarter. Pacific Center for Financial Services grew its stake in shares of Tractor Supply by 400.0% in the fourth quarter. Pacific Center for Financial Services now owns 550 shares of the specialty retailer's stock worth $29,000 after acquiring an additional 440 shares during the last quarter. Finally, LRI Investments LLC grew its stake in shares of Tractor Supply by 400.0% in the fourth quarter. LRI Investments LLC now owns 615 shares of the specialty retailer's stock worth $33,000 after acquiring an additional 492 shares during the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. increased their target price on Tractor Supply from $56.00 to $65.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. DA Davidson increased their price objective on Tractor Supply from $65.00 to $70.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Piper Sandler increased their price objective on Tractor Supply from $66.00 to $67.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Wells Fargo & Company increased their price objective on Tractor Supply from $63.00 to $65.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Finally, Evercore ISI increased their price objective 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. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $61.80.

Tractor Supply Stock Down 1.3%

NASDAQ TSCO opened at $59.26 on Friday. The stock's 50-day moving average price is $55.02 and its 200-day moving average price is $53.68. 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 company has a market capitalization of $31.42 billion, a P/E ratio of 29.08, a price-to-earnings-growth ratio of 3.05 and a beta of 0.75.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The specialty retailer reported $0.81 EPS for the quarter, topping the consensus estimate of $0.80 by $0.01. The firm had revenue of $4.44 billion for the quarter, compared to the consensus estimate of $4.40 billion. Tractor Supply had a return on equity of 46.83% and a net margin of 7.18%. The business's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $3.93 earnings per share. On average, equities research analysts predict that Tractor Supply Company will post 2.17 earnings per share for the current year.

Tractor Supply Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Investors 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 yield of 1.6%. The ex-dividend date of this dividend is Monday, August 25th. Tractor Supply's dividend payout ratio (DPR) is 45.10%.

Insider Activity at Tractor Supply

In related news, EVP Jonathan S. Estep sold 35,825 shares of Tractor Supply stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $56.00, for a total transaction of $2,006,200.00. Following the sale, the executive vice president owned 74,605 shares of the company's stock, valued at approximately $4,177,880. This trade represents a 32.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Noni L. Ellison sold 5,200 shares of Tractor Supply stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $63.96, for a total value of $332,592.00. Following the sale, the senior vice president directly owned 28,639 shares in the company, valued at $1,831,750.44. This trade represents a 15.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 207,490 shares of company stock worth $12,216,998 in the last three months. 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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