Tractor Supply Company (NASDAQ:TSCO) Shares Bought by HB Wealth Management LLC

Key Points

• HB Wealth Management LLC increased its stake in Tractor Supply Company by 92.2% during Q1, owning 22,936 shares worth approximately $1.26 million at the end of the quarter.
• Tractor Supply Company recently reported a 4.5% increase in revenue year-over-year, with earnings per share of $0.81, surpassing analysts' expectations.
• Analysts have upgraded Tractor Supply's stock rating, with Bank of America changing its rating to "buy" and setting a target price of $70.00.

HB Wealth Management LLC raised its position in Tractor Supply Company (NASDAQ:TSCO - Free Report) by 92.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 22,936 shares of the specialty retailer's stock after purchasing an additional 11,000 shares during the period. HB Wealth Management LLC's holdings in Tractor Supply were worth $1,264,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital World Investors boosted its position in Tractor Supply by 403.7% during the fourth quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer's stock worth $1,031,122,000 after acquiring an additional 15,575,311 shares during the last quarter. Capital International Investors lifted 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. Geode Capital Management LLC boosted its holdings in shares of Tractor Supply by 403.2% during the 4th quarter. Geode Capital Management LLC now owns 14,519,937 shares of the specialty retailer's stock worth $768,838,000 after purchasing an additional 11,634,249 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Tractor Supply by 287.6% in the fourth 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 purchasing an additional 7,729,628 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Tractor Supply by 407.9% during the fourth quarter. Invesco Ltd. now owns 8,766,224 shares of the specialty retailer's stock worth $465,136,000 after buying an additional 7,040,165 shares during the last quarter. Institutional investors and hedge funds own 98.72% of the company's stock.

Insider Activity at Tractor Supply

In other Tractor Supply news, SVP Noni L. Ellison sold 5,200 shares of the company's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $63.96, for a total transaction of $332,592.00. Following the completion of the sale, the senior vice president directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kurt D. Barton sold 90,000 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 $5,756,400.00. Following the completion of the transaction, the chief financial officer directly owned 47,715 shares in the company, valued at approximately $3,051,851.40. The trade was a 65.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 207,490 shares of company stock worth $12,216,998 in the last three months. Company insiders own 0.65% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TSCO. Bank of America raised Tractor Supply from an "underperform" rating to a "buy" rating and set a $70.00 target price for the company in a research note on Thursday, July 24th. Wells Fargo & Company lifted their price target on shares of Tractor Supply from $63.00 to $65.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Mizuho lowered their price objective on Tractor Supply from $62.00 to $58.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Wall Street Zen raised Tractor Supply from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Piper Sandler boosted their price objective on shares of Tractor Supply from $66.00 to $67.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $61.80.

Tractor Supply Stock Down 0.5%

Shares of NASDAQ:TSCO traded down $0.26 on Friday, hitting $56.69. 837,307 shares of the company's stock were exchanged, compared to its average volume of 5,665,376. 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 1-year low of $46.85 and a 1-year high of $63.99. The company has a market capitalization of $30.06 billion, a PE ratio of 27.74, a P/E/G ratio of 2.97 and a beta of 0.75. The firm's 50-day moving average is $53.82 and its 200 day moving average is $53.49.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The specialty retailer reported $0.81 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.40 billion. During the same quarter in the prior year, the firm posted $3.93 earnings per share. Tractor Supply's revenue for the quarter was up 4.5% on a year-over-year basis. Sell-side analysts predict that Tractor Supply Company will post 2.17 EPS for the current year.

Tractor Supply Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were paid a dividend of $0.23 per share. The ex-dividend date was Wednesday, May 28th. This represents a $0.92 dividend on an annualized basis and a yield of 1.6%. Tractor Supply's dividend payout ratio is currently 45.10%.

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.