Great Lakes Retirement Inc. Takes $1.32 Million Position in Tractor Supply (NASDAQ:TSCO)

Great Lakes Retirement Inc. bought a new stake in Tractor Supply (NASDAQ:TSCO - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 23,955 shares of the specialty retailer's stock, valued at approximately $1,320,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TSCO. Vanguard Group Inc. increased its holdings in Tractor Supply by 392.5% in the fourth quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer's stock worth $3,397,643,000 after purchasing an additional 51,031,178 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Tractor Supply by 401.8% during the 4th quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer's stock worth $1,262,258,000 after buying an additional 19,048,385 shares during the period. Alliancebernstein L.P. increased its stake in shares of Tractor Supply by 403.3% in the 4th quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer's stock valued at $1,180,932,000 after acquiring an additional 17,834,643 shares in the last quarter. Capital World Investors lifted its position in shares of Tractor Supply by 403.7% during the 4th quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer's stock valued at $1,031,122,000 after acquiring an additional 15,575,311 shares during the period. Finally, Capital International Investors boosted its stake in Tractor Supply by 334.7% during the fourth quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer's stock worth $818,421,000 after acquiring an additional 11,880,010 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company's stock.

Tractor Supply Stock Performance

NASDAQ TSCO traded up $0.15 during trading hours on Monday, reaching $51.69. 4,223,984 shares of the company were exchanged, compared to its average volume of 5,199,890. The stock has a market capitalization of $27.41 billion, a P/E ratio of 25.34, a P/E/G ratio of 2.95 and a beta of 0.74. The company has a quick ratio of 0.20, a current ratio of 1.43 and a debt-to-equity ratio of 0.82. Tractor Supply has a 1 year low of $46.85 and a 1 year high of $61.53. The business's 50 day simple moving average is $50.60 and its 200-day simple moving average is $53.32.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.03). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. The company had revenue of $3.47 billion for the quarter, compared to analysts' expectations of $3.55 billion. During the same quarter in the previous year, the business earned $1.83 EPS. The company's revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities research analysts expect that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend was Wednesday, May 28th. Tractor Supply's dividend payout ratio (DPR) is presently 45.77%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. UBS Group set a $54.00 price target on shares of Tractor Supply in a research note on Friday, April 25th. JPMorgan Chase & Co. cut their price target on Tractor Supply from $59.00 to $56.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Raymond James decreased their price objective on Tractor Supply from $61.00 to $57.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Telsey Advisory Group set a $60.00 target price on Tractor Supply in a report on Friday, April 25th. Finally, Stephens assumed coverage on shares of Tractor Supply in a report on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $58.02.

Insiders Place Their Bets

In related news, SVP Matthew L. Rubin sold 2,810 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $51.76, for a total transaction of $145,445.60. Following the completion of the transaction, the senior vice president now directly owns 29,722 shares in the company, valued at $1,538,410.72. The trade was a 8.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company 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.