Invesco LLC Buys 6,863 Shares of Tractor Supply Company (NASDAQ:TSCO)

Invesco LLC raised its stake in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) by 85.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,872 shares of the specialty retailer's stock after buying an additional 6,863 shares during the quarter. Invesco LLC's holdings in Tractor Supply were worth $819,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Private Advisor Group LLC increased its stake in Tractor Supply by 550.9% in the fourth quarter. Private Advisor Group LLC now owns 50,071 shares of the specialty retailer's stock valued at $2,657,000 after purchasing an additional 42,378 shares in the last quarter. ING Groep NV bought a new stake in Tractor Supply in the 4th quarter valued at $835,000. Sigma Planning Corp boosted its stake in Tractor Supply by 477.0% in the 4th quarter. Sigma Planning Corp now owns 24,446 shares of the specialty retailer's stock worth $1,297,000 after purchasing an additional 20,209 shares during the period. Pinnacle Financial Partners Inc boosted its stake in Tractor Supply by 403.1% in the 4th quarter. Pinnacle Financial Partners Inc now owns 5,690 shares of the specialty retailer's stock worth $302,000 after purchasing an additional 4,559 shares during the period. Finally, First Horizon Advisors Inc. increased its holdings in Tractor Supply by 381.5% during the 4th quarter. First Horizon Advisors Inc. now owns 1,690 shares of the specialty retailer's stock worth $90,000 after purchasing an additional 1,339 shares in the last quarter. 98.72% of the stock is owned by institutional investors.

Insider Transactions at Tractor Supply

In related news, SVP Matthew L. Rubin sold 2,810 shares of Tractor Supply stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total transaction of $145,445.60. Following the sale, the senior vice president now directly owns 29,722 shares of the company's stock, valued at approximately $1,538,410.72. The trade was a 8.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.65% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TSCO has been the topic of a number of research reports. 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. Guggenheim dropped their target price on Tractor Supply from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Telsey Advisory Group set a $60.00 target price on Tractor Supply in a research note on Friday, April 25th. Robert W. Baird decreased their price target on shares of Tractor Supply from $63.00 to $56.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Finally, Wall Street Zen downgraded shares of Tractor Supply from a "hold" rating to a "sell" rating in a report on Friday, June 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Tractor Supply presently has a consensus rating of "Moderate Buy" and an average price target of $58.02.

Tractor Supply Price Performance

Shares of Tractor Supply stock opened at $53.66 on Tuesday. The company has a quick ratio of 0.17, a current ratio of 1.41 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $28.45 billion, a price-to-earnings ratio of 26.64, a price-to-earnings-growth ratio of 2.83 and a beta of 0.74. Tractor Supply Company has a twelve month low of $46.85 and a twelve month high of $61.53. The company has a 50-day simple moving average of $50.74 and a two-hundred day simple moving average of $53.11.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.03). The company had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.55 billion. Tractor Supply had a return on equity of 47.56% and a net margin of 7.24%. Tractor Supply's revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business earned $1.83 EPS. Analysts forecast 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. Stockholders of record on Wednesday, May 28th were paid a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.92 annualized dividend and a dividend yield of 1.71%. Tractor Supply's payout ratio is 45.77%.

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.

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