SEB Asset Management AB Acquires New Stake in Tractor Supply Company $TSCO

Key Points

• SEB Asset Management AB opened a new position in Tractor Supply during the first quarter, buying 103,839 shares valued at about $4.7 million.
• Wall Street sentiment has turned more cautious: several analysts cut price targets, and the stock now carries a consensus “Hold” rating with an average target price of $40.88.
• Tractor Supply recently reported Q1 earnings below expectations at $0.31 per share on $3.59 billion in revenue, while also paying a quarterly dividend of $0.24 per share for a 3.3% annualized yield.

SEB Asset Management AB acquired a new stake in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 103,839 shares of the specialty retailer's stock, valued at approximately $4,704,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Garner Asset Management Corp purchased a new position in shares of Tractor Supply in the 4th quarter worth about $25,000. Reflection Asset Management bought a new stake in Tractor Supply during the 4th quarter valued at about $26,000. Core Wealth Advisors LLC purchased a new position in Tractor Supply in the fourth quarter worth about $27,000. Bayban bought a new position in shares of Tractor Supply in the fourth quarter worth approximately $28,000. Finally, JPL Wealth Management LLC purchased a new stake in shares of Tractor Supply during the third quarter valued at approximately $28,000. 98.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

TSCO has been the subject of a number of recent analyst reports. Telsey Advisory Group decreased their price objective on shares of Tractor Supply from $52.00 to $40.00 and set an "outperform" rating for the company in a report on Tuesday, July 14th. Daiwa Securities Group reduced their target price on Tractor Supply from $52.00 to $41.00 and set a "neutral" rating for the company in a report on Thursday, April 23rd. Loop Capital decreased their price target on Tractor Supply from $41.00 to $35.00 and set a "hold" rating for the company in a research note on Tuesday, June 16th. Stephens lowered their price target on Tractor Supply from $53.00 to $43.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 22nd. Finally, Raymond James Financial dropped their price objective on Tractor Supply from $48.00 to $40.00 and set an "outperform" rating on the stock in a research report on Friday, July 17th. Thirteen equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $40.88.

Tractor Supply Trading Down 0.9%

NASDAQ:TSCO opened at $29.36 on Thursday. The company has a market cap of $15.40 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 6.43 and a beta of 0.46. The company has a current ratio of 1.38, a quick ratio of 0.16 and a debt-to-equity ratio of 0.86. The company has a 50 day simple moving average of $30.63 and a two-hundred day simple moving average of $41.45. Tractor Supply Company has a 12 month low of $28.36 and a 12 month high of $63.99.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its quarterly earnings results on Tuesday, April 21st. The specialty retailer reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.04). The firm had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.64 billion. Tractor Supply had a net margin of 6.91% and a return on equity of 42.58%. Tractor Supply's quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.34 earnings per share. Research analysts forecast that Tractor Supply Company will post 2.08 earnings per share for the current year.

Tractor Supply Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Wednesday, May 27th. Tractor Supply's dividend payout ratio is 47.06%.

Tractor Supply 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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