Tractor Supply Company (NASDAQ:TSCO) Shares Bought by Citigroup Inc.

Key Points

• Citigroup Inc. increased its stake in Tractor Supply Company by 21.4%, acquiring an additional 109,303 shares, bringing its total holdings to 619,770 shares valued at approximately $34 million.
• Tractor Supply reported a $0.81 earnings per share for the last quarter, exceeding analysts' expectations of $0.80, and achieving a revenue of $4.44 billion, up 4.5% from the previous year.
• The company declared a quarterly dividend of $0.23 per share, equating to a 1.5% yield, with the payment date set for September 9th.

Citigroup Inc. increased its stake in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) by 21.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 619,770 shares of the specialty retailer's stock after acquiring an additional 109,303 shares during the period. Citigroup Inc. owned about 0.12% of Tractor Supply worth $34,149,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Wedmont Private Capital lifted its holdings in shares of Tractor Supply by 2.5% in the 1st quarter. Wedmont Private Capital now owns 8,714 shares of the specialty retailer's stock valued at $450,000 after acquiring an additional 212 shares during the last quarter. Creative Financial Designs Inc. ADV raised its stake in shares of Tractor Supply by 30.1% during the first quarter. Creative Financial Designs Inc. ADV now owns 920 shares of the specialty retailer's stock valued at $51,000 after acquiring an additional 213 shares in the last quarter. Independent Wealth Network Inc. raised its stake in shares of Tractor Supply by 5.2% during the first quarter. Independent Wealth Network Inc. now owns 4,335 shares of the specialty retailer's stock valued at $239,000 after acquiring an additional 215 shares in the last quarter. GW&K Investment Management LLC raised its stake in 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 buying an additional 226 shares in the last quarter. Finally, Assetmark Inc. raised its stake in Tractor Supply by 21.2% in the first quarter. Assetmark Inc. now owns 1,331 shares of the specialty retailer's stock worth $73,000 after buying an additional 233 shares in the last quarter. Institutional investors own 98.72% of the company's stock.

Insider Buying and Selling

In related news, EVP Jonathan S. Estep sold 35,825 shares of Tractor Supply stock in a transaction dated 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 sale, the executive vice president directly owned 74,605 shares in the company, valued at approximately $4,177,880. This trade represents a 32.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $332,592.00. Following the transaction, the senior vice president owned 28,639 shares of the company's stock, valued at approximately $1,831,750.44. This trade represents a 15.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 204,680 shares of company stock valued at $12,071,552 over the last three months. Insiders own 0.65% of the company's stock.

Analysts Set New Price Targets

TSCO has been the topic of several recent analyst reports. DA Davidson increased their target price on shares of Tractor Supply from $65.00 to $70.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Guggenheim reduced their price objective on shares of Tractor Supply from $60.00 to $55.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Wells Fargo & Company lifted their price objective on Tractor Supply from $63.00 to $65.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Robert W. Baird upped their price target on shares of Tractor Supply from $56.00 to $61.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Finally, Truist Financial boosted their price objective on shares of Tractor Supply from $60.00 to $66.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $61.80.

Tractor Supply Price Performance

TSCO stock traded up $0.58 during mid-day trading on Friday, hitting $60.27. The stock had a trading volume of 2,032,073 shares, compared to its average volume of 5,588,391. The firm has a fifty day simple moving average of $55.83 and a 200 day simple moving average of $53.76. Tractor Supply Company has a 52 week low of $46.85 and a 52 week high of $63.99. The company has a current ratio of 1.28, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $31.94 billion, a P/E ratio of 29.59, a P/E/G ratio of 3.07 and a beta of 0.75.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The specialty retailer reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.01. The business had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.40 billion. Tractor Supply had a net margin of 7.18% and a return on equity of 46.83%. Tractor Supply's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.93 EPS. As a group, research analysts forecast that Tractor Supply Company will post 2.17 EPS for the current year.

Tractor Supply Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Monday, August 25th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Monday, August 25th. This represents a $0.92 dividend on an annualized basis and a yield of 1.5%. Tractor Supply's dividend payout ratio (DPR) is presently 45.10%.

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.