Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Position in Tractor Supply Company (NASDAQ:TSCO)

Key Points

• Mitsubishi UFJ Asset Management increased its holdings in Tractor Supply Company by 12.9%, owning approximately 951,214 shares valued at $52.41 million as of the latest SEC filing.
• Executives at Tractor Supply have recently sold significant amounts of stock, including EVP Colin Yankee, who sold 6,680 shares, representing a 14.27% decrease in his ownership.
• The company reported a quarterly earnings increase, with $0.81 EPS surpassing analysts' estimates and revenue of $4.44 billion, reflecting a 4.5% year-over-year growth.

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Tractor Supply Company (NASDAQ:TSCO - Free Report) by 12.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 951,214 shares of the specialty retailer's stock after purchasing an additional 108,943 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.18% of Tractor Supply worth $52,412,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TSCO. Coppell Advisory Solutions LLC raised its stake in Tractor Supply by 944.4% during the 4th quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer's stock valued at $25,000 after purchasing an additional 425 shares during the last quarter. GW&K Investment Management LLC raised its holdings in Tractor Supply by 89.3% during the 1st quarter. GW&K Investment Management LLC now owns 479 shares of the specialty retailer's stock worth $26,000 after purchasing an additional 226 shares during the last quarter. Dunhill Financial LLC boosted its position in shares of Tractor Supply by 325.8% in the 4th quarter. Dunhill Financial LLC now owns 511 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 391 shares during the last quarter. Pacific Center for Financial Services grew its holdings in Tractor Supply by 400.0% during the fourth quarter. Pacific Center for Financial Services now owns 550 shares of the specialty retailer's stock valued at $29,000 after purchasing an additional 440 shares during the period. Finally, LRI Investments LLC increased its position in shares of Tractor Supply by 400.0% in the 4th quarter. LRI Investments LLC now owns 615 shares of the specialty retailer's stock valued at $33,000 after buying an additional 492 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tractor Supply

In other Tractor Supply news, SVP Noni L. Ellison sold 5,200 shares of Tractor Supply stock in a transaction dated 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 owned 28,639 shares of the company's stock, valued at $1,831,750.44. The trade was a 15.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Colin Yankee sold 6,680 shares of the company's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $58.40, for a total value of $390,112.00. Following the completion of the transaction, the executive vice president owned 40,142 shares of the company's stock, valued at $2,344,292.80. The trade was a 14.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 207,490 shares of company stock worth $12,216,998. Company insiders own 0.65% of the company's stock.

Tractor Supply Price Performance

Shares of TSCO traded down $0.76 during mid-day trading on Friday, reaching $59.26. 3,277,404 shares of the stock traded hands, compared to its average volume of 5,828,440. The company has a market cap 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. Tractor Supply Company has a 1 year low of $46.85 and a 1 year high of $63.99. The firm has a fifty day moving average price of $55.02 and a 200 day moving average price of $53.66. The company has a current ratio of 1.28, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68.

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, topping the consensus estimate of $0.80 by $0.01. Tractor Supply had a return on equity of 46.83% and a net margin of 7.18%. The business had revenue of $4.44 billion during the quarter, compared to analysts' expectations of $4.40 billion. During the same period in the previous year, the business earned $3.93 earnings per share. The firm's revenue was up 4.5% on a year-over-year basis. As a group, equities research analysts predict that Tractor Supply Company will post 2.17 earnings per share for the current year.

Tractor Supply Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Monday, August 25th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Monday, August 25th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.6%. Tractor Supply's dividend payout ratio is presently 45.10%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. UBS Group upped their price objective on Tractor Supply from $54.00 to $61.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Loop Capital increased their target price on Tractor Supply from $48.00 to $60.00 and gave the stock a "hold" rating in a research note on Friday, July 25th. Citigroup cut their price objective on shares of Tractor Supply from $59.00 to $51.00 and set a "neutral" rating for the company in a report on Friday, April 25th. Evercore ISI upped their target price on Tractor Supply from $60.00 to $65.00 and gave the company an "in-line" rating in a research report on Friday, July 25th. Finally, Piper Sandler increased their price target on shares of Tractor Supply from $66.00 to $67.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Tractor Supply currently has a consensus rating of "Moderate Buy" and an average target price of $61.80.

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.