SouthState Corp Boosts Position in Tractor Supply Company (NASDAQ:TSCO)

Key Points

• SouthState Corp increased its stake in Tractor Supply Company by 14.3% during the first quarter, resulting in ownership of 34,288 shares valued at approximately $1.89 million.
• Institutional investors have significantly invested in Tractor Supply, with entities like Capital World Investors increasing their holdings by 403.7%, now owning over 19.4 million shares.
• Tractor Supply recently announced a quarterly dividend of $0.23 per share, representing an annual yield of 1.6%, with a payout ratio of 45.10%.

SouthState Corp increased its stake in Tractor Supply Company (NASDAQ:TSCO - Free Report) by 14.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,288 shares of the specialty retailer's stock after buying an additional 4,288 shares during the period. SouthState Corp's holdings in Tractor Supply were worth $1,889,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in TSCO. Capital World Investors grew its holdings in Tractor Supply by 403.7% during the 4th quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer's stock worth $1,031,122,000 after acquiring an additional 15,575,311 shares in the last quarter. Capital International Investors grew its holdings in Tractor Supply by 334.7% during the 4th quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer's stock worth $818,421,000 after acquiring an additional 11,880,010 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Tractor Supply by 287.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,417,152 shares of the specialty retailer's stock worth $552,735,000 after acquiring an additional 7,729,628 shares in the last quarter. Stifel Financial Corp grew its holdings in Tractor Supply by 398.6% during the 4th quarter. Stifel Financial Corp now owns 8,233,999 shares of the specialty retailer's stock worth $436,899,000 after acquiring an additional 6,582,562 shares in the last quarter. Finally, Select Equity Group L.P. boosted its holdings in shares of Tractor Supply by 405.6% in the 4th quarter. Select Equity Group L.P. now owns 7,669,224 shares of the specialty retailer's stock valued at $406,929,000 after buying an additional 6,152,333 shares in the last quarter. Hedge funds and other institutional investors own 98.72% of the company's stock.

Tractor Supply Stock Performance

Shares of NASDAQ TSCO opened at $59.26 on Monday. 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 Company has a 12 month low of $46.85 and a 12 month high of $63.99. The company has a 50 day simple moving average of $55.02 and a two-hundred day simple moving average of $53.66. The stock has a market cap of $31.42 billion, a price-to-earnings ratio of 29.08, a PEG ratio of 3.05 and a beta of 0.75.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The specialty retailer reported $0.81 EPS for the quarter, beating the consensus estimate of $0.80 by $0.01. Tractor Supply had a net margin of 7.18% and a return on equity of 46.83%. The business had revenue of $4.44 billion during the quarter, compared to analysts' expectations of $4.40 billion. During the same period in the previous year, the business posted $3.93 EPS. The business's quarterly revenue was up 4.5% compared to the same quarter last year. As a group, analysts predict that Tractor Supply Company will post 2.17 earnings per share for the current year.

Tractor Supply Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Monday, August 25th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, August 25th. Tractor Supply's payout ratio is 45.10%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Tractor Supply from $56.00 to $65.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Citigroup lowered their price target on shares of Tractor Supply from $59.00 to $51.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. UBS Group raised their price target on shares of Tractor Supply from $54.00 to $61.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Evercore ISI raised their price target on shares of Tractor Supply from $60.00 to $65.00 and gave the company an "in-line" rating in a report on Friday, July 25th. Finally, Mizuho lowered their price target on shares of Tractor Supply from $62.00 to $58.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $61.80.

Insider Activity

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 transaction of $332,592.00. Following the completion of the transaction, the senior vice president directly owned 28,639 shares of the company's stock, valued at $1,831,750.44. The trade was a 15.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jonathan S. Estep sold 56,630 shares of Tractor Supply stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $53.00, for a total transaction of $3,001,390.00. Following the transaction, the executive vice president directly owned 74,605 shares of the company's stock, valued at approximately $3,954,065. This trade represents a 43.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 207,490 shares of company stock worth $12,216,998. 0.65% of the stock is currently owned by corporate insiders.

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.

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