National Pension Service Raises Stock Position in Tractor Supply Company (NASDAQ:TSCO)

Key Points

• National Pension Service increased its stake in Tractor Supply Company by 10.3%, owning 825,583 shares worth approximately $45.49 million after buying an additional 77,353 shares in the 1st quarter.
• The company reported $0.81 earnings per share in its latest quarter, exceeding analysts' expectations by $0.01, along with a revenue increase of 4.5% year-over-year.
• Tractor Supply recently declared a quarterly dividend of $0.23 per share, with an ex-dividend date of August 25th, resulting in an annualized dividend yield of 1.5%.

National Pension Service increased its stake in Tractor Supply Company (NASDAQ:TSCO - Free Report) by 10.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 825,583 shares of the specialty retailer's stock after acquiring an additional 77,353 shares during the period. National Pension Service owned about 0.16% of Tractor Supply worth $45,490,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of TSCO. FORA Capital LLC grew its holdings in shares of Tractor Supply by 434.1% during the 4th quarter. FORA Capital LLC now owns 35,526 shares of the specialty retailer's stock worth $1,885,000 after acquiring an additional 28,875 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Tractor Supply by 7.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 70,944 shares of the specialty retailer's stock worth $3,911,000 after acquiring an additional 5,184 shares during the period. Sowell Financial Services LLC grew its holdings in shares of Tractor Supply by 49.3% during the 1st quarter. Sowell Financial Services LLC now owns 20,029 shares of the specialty retailer's stock worth $1,104,000 after acquiring an additional 6,612 shares during the period. Sequoia Financial Advisors LLC grew its holdings in shares of Tractor Supply by 9.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 112,233 shares of the specialty retailer's stock worth $6,184,000 after acquiring an additional 9,483 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Tractor Supply by 27.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 319,132 shares of the specialty retailer's stock worth $17,584,000 after acquiring an additional 68,487 shares during the period. Institutional investors own 98.72% of the company's stock.

Insider Transactions at Tractor Supply

In other news, CFO Kurt D. Barton sold 90,000 shares of the company's stock in a transaction 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 directly owned 47,715 shares in the company, valued at $3,051,851.40. This represents a 65.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Colin Yankee sold 6,680 shares of the company's stock in a transaction on 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 sale, the executive vice president owned 40,142 shares of the company's stock, valued at $2,344,292.80. This trade represents a 14.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 204,680 shares of company stock worth $12,071,552 over the last three months. 0.65% of the stock is currently owned by insiders.

Tractor Supply Stock Performance

Shares of NASDAQ TSCO traded up $0.80 during midday trading on Friday, hitting $60.49. 3,901,483 shares of the stock traded hands, compared to its average volume of 5,670,729. The firm has a 50-day moving average of $56.02 and a two-hundred day moving average of $53.76. The firm has a market capitalization of $32.06 billion, a P/E ratio of 29.68, a PEG ratio of 3.11 and a beta of 0.75. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 1.28. 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 released its quarterly earnings results on Thursday, July 24th. The specialty retailer reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.01. The firm had revenue of $4.44 billion for the quarter, compared to analysts' expectations of $4.40 billion. Tractor Supply had a return on equity of 46.83% and a net margin of 7.18%. The company's revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.93 EPS. On average, equities analysts forecast that Tractor Supply Company will post 2.17 EPS for the current fiscal year.

Tractor Supply Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have weighed in on TSCO shares. DA Davidson upped their target price on Tractor Supply from $65.00 to $70.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Citigroup reduced their target price on Tractor Supply from $59.00 to $51.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. Bank of America upgraded Tractor Supply from an "underperform" rating to a "buy" rating and set a $70.00 target price on the stock in a report on Thursday, July 24th. Piper Sandler upped their price target on Tractor Supply from $66.00 to $67.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Finally, Telsey Advisory Group set a $70.00 price target on Tractor Supply in a research note on Friday, July 25th. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price 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.