Tractor Supply Company (NASDAQ:TSCO) Shares Acquired by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management increased its stake in Tractor Supply Company by 3.3%, acquiring an additional 5,754 shares, bringing their total to 181,549 shares valued at nearly $10 million.
• Other institutional investors, including Capital World Investors, have significantly increased their stakes in Tractor Supply, with some firms raising ownership by over 400% during the fourth quarter.
• Tractor Supply reported earnings per share (EPS) of $0.81 for the last quarter, exceeding expectations, and declared a quarterly dividend of $0.23 per share, reflecting a 1.5% annual yield.

Resona Asset Management Co. Ltd. raised its stake in Tractor Supply Company (NASDAQ:TSCO - Free Report) by 3.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 181,549 shares of the specialty retailer's stock after acquiring an additional 5,754 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Tractor Supply were worth $9,960,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Rockefeller Capital Management L.P. lifted its holdings in Tractor Supply by 435.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 148,427 shares of the specialty retailer's stock valued at $7,906,000 after acquiring an additional 120,717 shares during the period. Synovus Financial Corp grew its position in shares of Tractor Supply by 389.4% during the fourth quarter. Synovus Financial Corp now owns 11,965 shares of the specialty retailer's stock worth $635,000 after purchasing an additional 9,520 shares in the last quarter. Summit Investment Advisors Inc. grew its position in shares of Tractor Supply by 379.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,250 shares of the specialty retailer's stock worth $332,000 after purchasing an additional 4,946 shares in the last quarter. Barclays PLC grew its holdings in Tractor Supply by 415.0% during the 4th quarter. Barclays PLC now owns 1,066,489 shares of the specialty retailer's stock valued at $56,587,000 after buying an additional 859,420 shares in the last quarter. Finally, Mariner LLC grew its holdings in Tractor Supply by 405.2% during the 4th quarter. Mariner LLC now owns 184,683 shares of the specialty retailer's stock valued at $9,798,000 after buying an additional 148,128 shares in the last quarter. 98.72% of the stock is owned by institutional investors.

Tractor Supply Stock Performance

NASDAQ TSCO traded up $0.80 on Friday, hitting $60.49. 3,901,483 shares of the company's stock were exchanged, compared to its average volume of 5,670,729. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.28 and a quick ratio of 0.16. The firm's 50-day moving average price is $56.02 and its two-hundred day moving average price is $53.78. Tractor Supply Company has a fifty-two week low of $46.85 and a fifty-two week high of $63.99. The firm has a market cap of $32.06 billion, a price-to-earnings ratio of 29.68, a P/E/G ratio of 3.11 and a beta of 0.75.

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, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $4.40 billion. During the same quarter in the prior year, the firm posted $3.93 EPS. The company's revenue was up 4.5% compared to the same quarter last year. On average, research analysts expect that Tractor Supply Company will post 2.17 EPS for the current year.

Tractor Supply Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Monday, August 25th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, August 25th. Tractor Supply's dividend payout ratio is currently 45.10%.

Insider Activity at Tractor Supply

In other Tractor Supply news, CFO Kurt D. Barton sold 90,000 shares of the stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $63.96, for a total transaction of $5,756,400.00. Following the transaction, the chief financial officer owned 47,715 shares of the company's stock, valued at $3,051,851.40. This represents a 65.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Colin Yankee sold 6,680 shares of the 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 transaction, the executive vice president directly owned 40,142 shares in the company, 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. Over the last quarter, insiders have sold 204,680 shares of company stock worth $12,071,552. Company insiders own 0.65% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Loop Capital raised their price target on Tractor Supply from $48.00 to $60.00 and gave the stock a "hold" rating in a research note on Friday, July 25th. Mizuho reduced their target price on Tractor Supply from $62.00 to $58.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Truist Financial upped their price target on Tractor Supply from $60.00 to $66.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Wells Fargo & Company increased their price objective on Tractor Supply from $63.00 to $65.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Finally, JPMorgan Chase & Co. lifted their price objective on Tractor Supply from $56.00 to $65.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.