Jefferies Financial Group Inc. Has $4.56 Million Position in Tractor Supply Company (NASDAQ:TSCO)

Key Points

• Jefferies Financial Group Inc. significantly increased its holdings in Tractor Supply Company by 130.5% after acquiring 46,806 shares in the 1st quarter, now owning a total of 82,661 shares.
• Tractor Supply Company reported quarterly earnings of $0.81 per share, exceeding analysts' expectations and achieving a 4.5% year-over-year revenue increase to $4.44 billion.
• Insider trading activity showed notable sales, with insiders selling a total of 207,490 shares valued at approximately $12.2 million over the past ninety days.

Jefferies Financial Group Inc. grew its stake in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) by 130.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 82,661 shares of the specialty retailer's stock after buying an additional 46,806 shares during the period. Jefferies Financial Group Inc.'s holdings in Tractor Supply were worth $4,555,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in TSCO. Capital World Investors grew its position in shares of Tractor Supply by 403.7% in the fourth quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer's stock valued at $1,031,122,000 after purchasing an additional 15,575,311 shares during the period. Capital International Investors boosted its holdings in Tractor Supply by 334.7% in the fourth quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer's stock valued at $818,421,000 after acquiring an additional 11,880,010 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in 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 acquiring an additional 7,729,628 shares during the last quarter. Invesco Ltd. boosted its holdings in Tractor Supply by 407.9% in the fourth quarter. Invesco Ltd. now owns 8,766,224 shares of the specialty retailer's stock valued at $465,136,000 after acquiring an additional 7,040,165 shares during the last quarter. Finally, Stifel Financial Corp boosted its holdings in Tractor Supply by 398.6% in the fourth 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 last quarter. Hedge funds and other institutional investors own 98.72% of the company's stock.

Insider Transactions at Tractor Supply

In other Tractor Supply news, Director Denise L. Jackson sold 1,165 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $58.50, for a total value of $68,152.50. Following the completion of the sale, the director directly owned 31,123 shares in the company, valued at $1,820,695.50. This represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kurt D. Barton sold 90,000 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 value of $5,756,400.00. Following the completion of the sale, the chief financial officer owned 47,715 shares of the company's stock, valued at $3,051,851.40. This trade represents a 65.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 207,490 shares of company stock valued at $12,216,998 over the last three months. 0.65% of the stock is owned by company insiders.

Analysts Set New Price Targets

TSCO has been the topic of a number of research analyst reports. Stephens started coverage on Tractor Supply in a report on Wednesday, April 9th. They issued an "equal weight" rating and a $56.00 target price on the stock. Wells Fargo & Company boosted their price objective on Tractor Supply from $63.00 to $65.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Piper Sandler boosted their price objective on Tractor Supply from $66.00 to $67.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. UBS Group boosted their price objective on Tractor Supply from $54.00 to $61.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Finally, The Goldman Sachs Group restated a "buy" rating 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 assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.80.

Tractor Supply Stock Performance

Shares of NASDAQ:TSCO traded up $1.87 during trading on Monday, hitting $59.50. 5,391,315 shares of the company traded hands, compared to its average volume of 6,372,725. The stock has a market capitalization of $31.55 billion, a price-to-earnings ratio of 29.20, a PEG ratio of 2.96 and a beta of 0.75. The business's fifty day moving average is $53.97 and its 200-day moving average is $53.52. Tractor Supply Company has a one year low of $46.85 and a one year 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.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The specialty retailer reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.01. The business 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 business's revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $3.93 earnings per share. As a group, equities analysts predict that Tractor Supply Company will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Wednesday, May 28th. Tractor Supply's dividend payout ratio is 45.10%.

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.