Forsta AP Fonden Buys 115,700 Shares of Tractor Supply Company (NASDAQ:TSCO)

Key Points

• Forsta AP Fonden has increased its stake in Tractor Supply Company by 92.9%, acquiring an additional 115,700 shares to reach a total of 240,200 shares, with a valuation of $13.2 million.
• Despite the increase in institutional ownership, Tractor Supply's stock has seen a 1.3% decline, opening at $59.26 with a 52-week trading range between $46.85 and $63.99.
• The company recently posted quarterly earnings, reporting $0.81 EPS, which exceeded analysts' expectations, and announced a quarterly dividend of $0.23 per share.

Forsta AP Fonden increased its position in Tractor Supply Company (NASDAQ:TSCO - Free Report) by 92.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 240,200 shares of the specialty retailer's stock after purchasing an additional 115,700 shares during the period. Forsta AP Fonden's holdings in Tractor Supply were worth $13,235,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TSCO. Capital World Investors boosted its stake in Tractor Supply by 403.7% in the 4th quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer's stock worth $1,031,122,000 after purchasing an additional 15,575,311 shares in the last quarter. Capital International Investors boosted its stake in Tractor Supply by 334.7% in the 4th 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Tractor Supply by 287.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,417,152 shares of the specialty retailer's stock valued at $552,735,000 after acquiring an additional 7,729,628 shares during the period. Stifel Financial Corp lifted its stake in Tractor Supply by 398.6% during the 4th quarter. Stifel Financial Corp now owns 8,233,999 shares of the specialty retailer's stock valued at $436,899,000 after acquiring an additional 6,582,562 shares during the period. Finally, Select Equity Group L.P. lifted its stake in Tractor Supply by 405.6% during the 4th quarter. Select Equity Group L.P. now owns 7,669,224 shares of the specialty retailer's stock valued at $406,929,000 after acquiring an additional 6,152,333 shares during the period. Institutional investors own 98.72% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on TSCO. Raymond James Financial restated an "outperform" rating and set a $65.00 target price (up previously from $57.00) on shares of Tractor Supply in a research note on Friday, July 25th. Wells Fargo & Company upped their target price on shares of Tractor Supply from $63.00 to $65.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Truist Financial upped their target price on shares of Tractor Supply from $60.00 to $66.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Piper Sandler upped their target price on shares of Tractor Supply from $66.00 to $67.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Finally, Telsey Advisory Group set a $70.00 target price on shares of Tractor Supply in a research note on Friday, July 25th. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $61.80.

Insider Activity

In other news, Director Denise L. Jackson sold 4,630 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $55.93, for a total transaction of $258,955.90. Following the completion of the transaction, the director directly owned 35,288 shares in the company, valued at approximately $1,973,657.84. This represents a 11.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jonathan S. Estep sold 56,630 shares of the stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $53.00, for a total value of $3,001,390.00. Following the transaction, the executive vice president owned 74,605 shares of the company's stock, valued at $3,954,065. This represents a 43.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 207,490 shares of company stock worth $12,216,998. 0.65% of the stock is owned by corporate insiders.

Tractor Supply Price Performance

TSCO stock traded down $0.76 during midday trading 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 12 month low of $46.85 and a 12 month 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 market capitalization of $31.42 billion, a price-to-earnings ratio of 29.08, a price-to-earnings-growth ratio of 3.05 and a beta of 0.75. The company has a 50 day moving average of $55.02 and a two-hundred day moving average of $53.66.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its 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 firm had revenue of $4.44 billion during 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 company's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned $3.93 EPS. On average, analysts expect that Tractor Supply Company will post 2.17 EPS for the current year.

Tractor Supply Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Monday, August 25th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Monday, August 25th. Tractor Supply's dividend 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.