Munich Reinsurance Co Stock Corp in Munich Takes Position in Tractor Supply Company $TSCO

Key Points

• Munich Re bought a new stake of 957,765 shares of Tractor Supply in Q3, valued at approximately $54.47 million, representing about 0.18% ownership.
• Tractor Supply missed the quarter's expectations with $0.43 EPS vs. $0.46 expected and revenue of $3.90 billion vs. $4.03 billion, triggering several analyst price-target cuts though the consensus rating remains a "Moderate Buy" with an average target near $59.78.
• The company raised its quarterly dividend to $0.24 (annualized $0.96, yield ~1.9%), while insiders have sold 222,348 shares (~$11.96 million) in the past 90 days, leaving insiders with about 0.65% ownership.

Munich Reinsurance Co Stock Corp in Munich purchased a new stake in Tractor Supply Company (NASDAQ:TSCO - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 957,765 shares of the specialty retailer's stock, valued at approximately $54,468,000. Munich Reinsurance Co Stock Corp in Munich owned 0.18% of Tractor Supply as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Financial Network Wealth Advisors LLC lifted its stake in Tractor Supply by 8.0% during the third quarter. Financial Network Wealth Advisors LLC now owns 2,465 shares of the specialty retailer's stock valued at $140,000 after buying an additional 182 shares in the last quarter. Perigon Wealth Management LLC increased its position in shares of Tractor Supply by 0.6% in the third quarter. Perigon Wealth Management LLC now owns 34,036 shares of the specialty retailer's stock worth $1,936,000 after acquiring an additional 200 shares in the last quarter. Colonial Trust Advisors increased its position in shares of Tractor Supply by 1.3% in the second quarter. Colonial Trust Advisors now owns 16,489 shares of the specialty retailer's stock worth $870,000 after acquiring an additional 214 shares in the last quarter. Vestmark Advisory Solutions Inc. raised its holdings in shares of Tractor Supply by 5.1% during the third quarter. Vestmark Advisory Solutions Inc. now owns 4,514 shares of the specialty retailer's stock valued at $257,000 after acquiring an additional 218 shares during the period. Finally, Johnson Investment Counsel Inc. lifted its position in shares of Tractor Supply by 1.7% in the 3rd quarter. Johnson Investment Counsel Inc. now owns 12,771 shares of the specialty retailer's stock valued at $726,000 after acquiring an additional 219 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company's stock.

Tractor Supply Price Performance

Shares of NASDAQ:TSCO opened at $50.16 on Friday. The firm has a market cap of $26.40 billion, a price-to-earnings ratio of 24.23, a P/E/G ratio of 2.53 and a beta of 0.72. Tractor Supply Company has a 1 year low of $46.85 and a 1 year high of $63.99. The company has a current ratio of 1.34, a quick ratio of 0.16 and a debt-to-equity ratio of 0.70. The business has a fifty day simple moving average of $52.35 and a 200 day simple moving average of $54.69.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its earnings results on Thursday, January 29th. The specialty retailer reported $0.43 EPS for the quarter, missing analysts' consensus estimates of $0.46 by ($0.03). Tractor Supply had a net margin of 7.06% and a return on equity of 44.36%. The firm had revenue of $3.90 billion during the quarter, compared to analysts' expectations of $4.03 billion. During the same quarter last year, the firm earned $0.44 EPS. The business's revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, sell-side analysts predict that Tractor Supply Company will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, February 24th. This is a positive change from Tractor Supply's previous quarterly dividend of $0.23. Tractor Supply's dividend payout ratio (DPR) is presently 46.38%.

Wall Street Analyst Weigh In

TSCO has been the topic of several research analyst reports. Morgan Stanley lowered their price objective on shares of Tractor Supply from $60.00 to $57.00 and set an "equal weight" rating on the stock in a research report on Friday, January 30th. Jefferies Financial Group lowered their price target on Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a report on Friday, January 30th. Argus reduced their price objective on Tractor Supply from $67.00 to $64.00 and set a "buy" rating for the company in a research note on Monday, February 2nd. Piper Sandler decreased their price objective on Tractor Supply from $67.00 to $59.00 and set an "overweight" rating for the company in a research report on Friday, January 30th. Finally, Mizuho dropped their target price on Tractor Supply from $65.00 to $58.00 and set an "outperform" rating on the stock in a report on Friday, January 30th. Fifteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $59.78.

Insider Transactions at Tractor Supply

In related news, CFO Kurt D. Barton sold 1,929 shares of the firm's stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $53.94, for a total transaction of $104,050.26. Following the transaction, the chief financial officer owned 44,736 shares of the company's stock, valued at approximately $2,413,059.84. This trade represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jonathan S. Estep sold 59,745 shares of Tractor Supply stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $54.03, for a total transaction of $3,228,022.35. Following the completion of the sale, the executive vice president owned 80,931 shares of the company's stock, valued at $4,372,701.93. This trade represents a 42.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 222,348 shares of company stock valued at $11,959,621 in the last ninety days. 0.65% of the stock is currently owned by insiders.

Tractor Supply Company Profile

Tractor Supply Company NASDAQ: TSCO is a specialty retailer focused on products for the home, farm, ranch and outdoors. The company operates a network of physical retail locations complemented by an e-commerce platform, offering a one-stop source of supplies and equipment for customers with rural and suburban lifestyles. Its merchandise assortment targets a range of needs, from animal and livestock care to maintenance, outdoor power equipment, and seasonal products.

Product categories include animal feed and supplies, pet products, fencing and fencing supplies, equine equipment, lawn and garden tools, work clothing and footwear, and small agricultural and outdoor power equipment.

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