Mizuho Securities USA LLC Has $2.36 Million Position in Tractor Supply Company (NASDAQ:TSCO)

Key Points

• Mizuho Securities USA LLC reduced its stake in Tractor Supply Company by 15.5% during the first quarter, holding 42,773 shares valued at approximately $2.36 million.
• Tractor Supply Company reported earnings of $0.81 per share for the latest quarter, exceeding analysts' expectations of $0.80, with revenue reaching $4.44 billion, a 4.5% increase year-over-year.
• The company announced a quarterly dividend of $0.23 per share, set to be paid on September 9th, representing a 1.5% dividend yield and a payout ratio of 45.10%.

Mizuho Securities USA LLC trimmed its position in Tractor Supply Company (NASDAQ:TSCO - Free Report) by 15.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,773 shares of the specialty retailer's stock after selling 7,859 shares during the period. Mizuho Securities USA LLC's holdings in Tractor Supply were worth $2,357,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TSCO. Coppell Advisory Solutions LLC lifted its holdings in shares of Tractor Supply by 944.4% in the fourth 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 in the last quarter. GW&K Investment Management LLC raised its holdings in shares of Tractor Supply by 89.3% in the first quarter. GW&K Investment Management LLC now owns 479 shares of the specialty retailer's stock valued at $26,000 after purchasing an additional 226 shares during the last quarter. Dunhill Financial LLC raised its holdings in shares of Tractor Supply by 325.8% in the fourth quarter. Dunhill Financial LLC now owns 511 shares of the specialty retailer's stock valued at $27,000 after purchasing an additional 391 shares during the last quarter. Pacific Center for Financial Services raised its holdings in shares of Tractor Supply by 400.0% in 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 last quarter. Finally, LRI Investments LLC increased its holdings in Tractor Supply by 400.0% during the fourth quarter. LRI Investments LLC now owns 615 shares of the specialty retailer's stock worth $33,000 after buying an additional 492 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Tractor Supply Price Performance

Shares of TSCO stock traded up $0.55 on Friday, reaching $60.24. The company had a trading volume of 2,132,082 shares, compared to its average volume of 5,589,200. The business's 50-day moving average is $55.83 and its 200 day moving average is $53.76. The stock has a market capitalization of $31.92 billion, a PE ratio of 29.58, a price-to-earnings-growth ratio of 3.07 and a beta of 0.75. 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 Company has a one year low of $46.85 and a one year high of $63.99.

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, beating analysts' consensus estimates of $0.80 by $0.01. The business had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.40 billion. Tractor Supply had a net margin of 7.18% and a return on equity of 46.83%. The firm's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the business earned $3.93 EPS. Equities research analysts forecast that Tractor Supply Company will post 2.17 EPS for the current fiscal year.

Tractor Supply Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Monday, August 25th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Monday, August 25th. Tractor Supply's dividend payout ratio (DPR) is 45.10%.

Insiders Place Their Bets

In other Tractor Supply news, SVP Noni L. Ellison sold 5,200 shares of the firm'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 transaction of $332,592.00. Following the completion of the transaction, the senior vice president owned 28,639 shares in the company, valued at approximately $1,831,750.44. This trade represents a 15.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Colin Yankee sold 6,680 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $58.40, for a total transaction of $390,112.00. Following the transaction, the executive vice president owned 40,142 shares of the company's stock, valued at approximately $2,344,292.80. The trade was a 14.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 204,680 shares of company stock worth $12,071,552 over the last quarter. 0.65% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Mizuho lowered their target price on shares of Tractor Supply from $62.00 to $58.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. UBS Group boosted their price target on Tractor Supply from $54.00 to $61.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. JPMorgan Chase & Co. boosted their price target on Tractor Supply from $56.00 to $65.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Wall Street Zen upgraded shares of Tractor Supply from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Loop Capital upped their price objective on shares of Tractor Supply from $48.00 to $60.00 and gave the company a "hold" rating in a report on Friday, July 25th. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Tractor Supply currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.80.

About Tractor Supply

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.