Fiduciary Family Office LLC Buys New Position in Tractor Supply Company (NASDAQ:TSCO)

Key Points

• Fiduciary Family Office LLC has purchased a new stake in Tractor Supply Company (NASDAQ:TSCO), acquiring 23,855 shares valued at $1.31 million in the first quarter.
• Several large investors significantly increased their stakes in Tractor Supply during the fourth quarter, with notable increases of up to 944.4% from Coppell Advisory Solutions LLC.
• Analysts have mixed views on TSCO, with Piper Sandler raising their price target to $67.00 while others like Citigroup lowered their target to $51.00, resulting in an overall consensus of a "Moderate Buy."

Fiduciary Family Office LLC 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 & Exchange Commission. The firm acquired 23,855 shares of the specialty retailer's stock, valued at approximately $1,314,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Benjamin Edwards Inc. increased its holdings in shares of Tractor Supply by 16.6% in the 1st quarter. Benjamin Edwards Inc. now owns 1,010,704 shares of the specialty retailer's stock valued at $55,690,000 after acquiring an additional 143,944 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Tractor Supply in the 1st quarter valued at $7,677,000. Cynosure Group LLC increased its holdings in shares of Tractor Supply by 11.1% in the 1st quarter. Cynosure Group LLC now owns 7,176 shares of the specialty retailer's stock valued at $395,000 after acquiring an additional 716 shares during the period. Zions Bancorporation National Association UT acquired a new position in shares of Tractor Supply in the 1st quarter valued at $41,000. Finally, Forsta AP Fonden increased its holdings in shares of Tractor Supply by 92.9% in the 1st quarter. Forsta AP Fonden now owns 240,200 shares of the specialty retailer's stock valued at $13,235,000 after acquiring an additional 115,700 shares during the period. Institutional investors and hedge funds own 98.72% of the company's stock.

Insiders Place Their Bets

In related news, EVP Colin Yankee sold 6,680 shares of the business's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $58.40, for a total value of $390,112.00. Following the sale, the executive vice president directly owned 40,142 shares in the company, valued at $2,344,292.80. The trade was a 14.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 sale, the chief financial officer owned 47,715 shares in the company, valued at $3,051,851.40. This represents a 65.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 207,490 shares of company stock worth $12,216,998. 0.65% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TSCO. Robert W. Baird lifted their target price on shares of Tractor Supply from $56.00 to $61.00 and gave the company an "outperform" rating in a report on Monday, July 21st. UBS Group lifted their price objective on shares of Tractor Supply from $54.00 to $61.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. The Goldman Sachs Group reiterated a "buy" rating on shares of Tractor Supply in a research report on Friday, July 25th. Citigroup lowered their price objective on shares of Tractor Supply from $59.00 to $51.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. Finally, Truist Financial lifted 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 given a buy rating to the company's stock. Based on data from MarketBeat, Tractor Supply has an average rating of "Moderate Buy" and an average target price of $61.80.

Tractor Supply Price Performance

Shares of Tractor Supply stock traded down $0.76 on Friday, hitting $59.26. The company's stock had a trading volume of 3,277,404 shares, compared to its average volume of 5,828,440. Tractor Supply Company has a 52-week low of $46.85 and a 52-week high of $63.99. The company has a quick ratio of 0.16, a current ratio of 1.28 and a debt-to-equity ratio of 0.68. The firm has a fifty day moving average price of $55.02 and a 200-day moving average price of $53.66. 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 released 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. Tractor Supply had a net margin of 7.18% and a return on equity of 46.83%. The business had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.40 billion. During the same period in the previous year, the firm earned $3.93 EPS. The business's revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities research analysts expect that Tractor Supply Company will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Monday, August 25th will be given a $0.23 dividend. The ex-dividend date is Monday, August 25th. This represents a $0.92 annualized dividend and a dividend yield of 1.6%. Tractor Supply's payout ratio is currently 45.10%.

About Tractor Supply

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.