139,331 Shares in Tractor Supply Company (NASDAQ:TSCO) Purchased by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. acquired 139,331 shares of Tractor Supply Company valued at approximately $7.68 million in the first quarter.
• The stock has received several price target upgrades from analysts, with Piper Sandler increasing the target price to $67.00 and DA Davidson raising it to $70.00.
• Tractor Supply recently declared a quarterly dividend of $0.23 per share, representing a 1.5% yield, with a payout ratio of 45.10%.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 139,331 shares of the specialty retailer's stock, valued at approximately $7,677,000.

Other institutional investors have also added to or reduced their stakes in the company. Coppell Advisory Solutions LLC raised its holdings in shares of Tractor Supply by 944.4% in the 4th quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer's stock valued at $25,000 after acquiring an additional 425 shares in the last quarter. GW&K Investment Management LLC raised its holdings in shares of Tractor Supply by 89.3% in the 1st quarter. GW&K Investment Management LLC now owns 479 shares of the specialty retailer's stock valued at $26,000 after acquiring an additional 226 shares in the last quarter. Dunhill Financial LLC raised its holdings in shares of Tractor Supply by 325.8% in the 4th quarter. Dunhill Financial LLC now owns 511 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 391 shares in the last quarter. Pacific Center for Financial Services raised its holdings in shares of Tractor Supply by 400.0% in the 4th quarter. Pacific Center for Financial Services now owns 550 shares of the specialty retailer's stock valued at $29,000 after acquiring an additional 440 shares in the last quarter. Finally, LRI Investments LLC raised its holdings in shares of Tractor Supply by 400.0% in the 4th quarter. LRI Investments LLC now owns 615 shares of the specialty retailer's stock valued at $33,000 after acquiring an additional 492 shares in the last quarter. Hedge funds and other institutional investors own 98.72% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on TSCO shares. Wall Street Zen raised Tractor Supply from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Loop Capital raised their price target on Tractor Supply from $48.00 to $60.00 and gave the stock a "hold" rating in a research report on Friday, July 25th. Telsey Advisory Group set a $70.00 price target on Tractor Supply in a research report on Friday, July 25th. Bank of America upgraded Tractor Supply from an "underperform" rating to a "buy" rating and set a $70.00 price target on the stock in a research report on Thursday, July 24th. Finally, DA Davidson raised their price target on Tractor Supply from $65.00 to $70.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Nine analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $61.80.

Tractor Supply Stock Up 0.9%

Shares of NASDAQ TSCO traded up $0.55 during mid-day trading on Friday, hitting $60.24. 2,132,082 shares of the stock traded hands, compared to its average volume of 5,589,200. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 1.28. Tractor Supply Company has a 52 week low of $46.85 and a 52 week high of $63.99. The company has a market cap of $31.92 billion, a price-to-earnings ratio of 29.58, a PEG ratio of 3.07 and a beta of 0.75. The stock has a fifty day moving average price of $55.83 and a 200-day moving average price of $53.76.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The specialty retailer reported $0.81 earnings per share (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 analysts' expectations of $4.40 billion. Tractor Supply had a return on equity of 46.83% and a net margin of 7.18%. The firm's quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.93 earnings per share. Research analysts anticipate that Tractor Supply Company will post 2.17 EPS for the current year.

Tractor Supply Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Monday, August 25th will be paid a dividend of $0.23 per share. The ex-dividend date is Monday, August 25th. This represents a $0.92 dividend on an annualized basis and a yield of 1.5%. Tractor Supply's payout ratio is presently 45.10%.

Insider Buying and Selling at Tractor Supply

In other news, EVP Colin Yankee sold 6,680 shares of the business's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $58.40, for a total value of $390,112.00. Following the completion of the transaction, the executive vice president owned 40,142 shares in the company, valued at $2,344,292.80. The trade was a 14.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Noni L. Ellison sold 5,200 shares of the business's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $63.96, for a total value of $332,592.00. Following the completion of the transaction, the senior vice president owned 28,639 shares of the company's stock, valued at $1,831,750.44. This represents a 15.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 204,680 shares of company stock valued at $12,071,552 in the last ninety days. Corporate insiders own 0.65% of the company's stock.

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.