Savvy Advisors Inc. Purchases Shares of 4,378 Tractor Supply Company (NASDAQ:TSCO)

Key Points

• Savvy Advisors Inc. has invested $241,000 in Tractor Supply Company (TSCO), acquiring 4,378 shares in the first quarter.
• Several institutional investors significantly increased their stakes in TSCO, with Capital World Investors leading the way with a 403.7% increase in the fourth quarter.
• Tractor Supply's stock currently has an average rating of "Moderate Buy" from analysts, with a revised average price target of $61.80, reflecting recent positive earnings and growth estimates.

Savvy Advisors Inc. purchased a new position in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,378 shares of the specialty retailer's stock, valued at approximately $241,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of TSCO. FIL Ltd boosted its stake in shares of Tractor Supply by 542.0% in the fourth quarter. FIL Ltd now owns 139,925 shares of the specialty retailer's stock valued at $7,424,000 after purchasing an additional 118,130 shares during the period. Bank of Nova Scotia boosted its stake in Tractor Supply by 412.1% during the 4th quarter. Bank of Nova Scotia now owns 71,508 shares of the specialty retailer's stock valued at $3,794,000 after acquiring an additional 57,545 shares during the last quarter. Scotia Capital Inc. boosted its stake in Tractor Supply by 393.7% during the 4th quarter. Scotia Capital Inc. now owns 18,711 shares of the specialty retailer's stock valued at $993,000 after acquiring an additional 14,921 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in Tractor Supply by 403.2% during the 4th quarter. Treasurer of the State of North Carolina now owns 237,185 shares of the specialty retailer's stock valued at $12,585,000 after acquiring an additional 190,048 shares during the last quarter. Finally, Argent Trust Co boosted its stake in Tractor Supply by 400.0% during the 4th quarter. Argent Trust Co now owns 7,820 shares of the specialty retailer's stock valued at $415,000 after acquiring an additional 6,256 shares during the last quarter. Institutional investors and hedge funds own 98.72% of the company's stock.

Insider Buying and Selling

In other news, SVP Noni L. Ellison sold 5,200 shares of Tractor Supply stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $63.96, for a total value of $332,592.00. Following the transaction, the senior vice president owned 28,639 shares of the company's stock, valued at $1,831,750.44. This trade represents a 15.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kurt D. Barton sold 90,000 shares of Tractor Supply 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 $5,756,400.00. Following the completion of the transaction, the chief financial officer directly owned 47,715 shares in the company, valued at approximately $3,051,851.40. This represents a 65.35% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 204,680 shares of company stock valued at $12,071,552. 0.65% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

TSCO has been the topic of a number of research analyst reports. Evercore ISI increased their price objective on shares of Tractor Supply from $60.00 to $65.00 and gave the company an "in-line" rating in a research note on Friday, July 25th. The Goldman Sachs Group reiterated a "buy" rating on shares of Tractor Supply in a research note on Friday, July 25th. Loop Capital raised their price target on shares of Tractor Supply from $48.00 to $60.00 and gave the stock a "hold" rating in a research report on Friday, July 25th. Citigroup reduced their price target on shares of Tractor Supply from $59.00 to $51.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. Finally, DA Davidson raised their price target on shares of Tractor Supply from $65.00 to $70.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $61.80.

Tractor Supply Trading Up 0.7%

Shares of TSCO traded up $0.43 during midday trading on Wednesday, hitting $59.73. The stock had a trading volume of 5,140,697 shares, compared to its average volume of 5,622,863. Tractor Supply Company has a fifty-two week low of $46.85 and a fifty-two week high of $63.99. The business has a 50-day simple moving average of $55.46 and a two-hundred day simple moving average of $53.71. The firm has a market cap of $31.65 billion, a P/E ratio of 29.31, a price-to-earnings-growth ratio of 3.06 and a beta of 0.75. 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 quarterly 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. The business had revenue of $4.44 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period last year, the company posted $3.93 earnings per share. As a group, equities analysts forecast that Tractor Supply Company will post 2.17 EPS for the current year.

Tractor Supply Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Monday, August 25th will be given 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 1.5%. Tractor Supply's dividend payout ratio (DPR) is currently 45.10%.

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.