State Street Corp Purchases 665,648 Shares of Tractor Supply Company $TSCO

Key Points

• State Street increased its Tractor Supply stake by 2.9%, purchasing 665,648 shares to hold 23.5 million shares valued at approximately $742.9 million. Institutional investors collectively own 98.72% of the company.
• Tractor Supply insiders purchased 20,310 shares worth about $652,411 during the quarter, including purchases by Director Edna Morris and CEO Harry Lawton.
• The stock was trading near $32.29 after declining 1.7%; recent earnings slightly missed estimates, while analysts maintain a consensus “Hold” rating with an average price target of $39.31. The company also pays a quarterly dividend of $0.24 per share.

State Street Corp grew its position in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) by 2.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,500,716 shares of the specialty retailer's stock after buying an additional 665,648 shares during the quarter. State Street Corp owned approximately 4.48% of Tractor Supply worth $742,858,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Tractor Supply during the 2nd quarter worth approximately $1,500,967,000. Norges Bank bought a new position in Tractor Supply in the 4th quarter valued at $303,862,000. Van ECK Associates Corp raised its position in Tractor Supply by 2,983.6% in the 2nd quarter. Van ECK Associates Corp now owns 5,144,955 shares of the specialty retailer's stock valued at $162,632,000 after purchasing an additional 4,978,105 shares during the last quarter. Legal & General Group Plc acquired a new position in Tractor Supply in the second quarter worth $110,137,000. Finally, Bank of America Corp DE acquired a new position in Tractor Supply in the second quarter worth $105,502,000. Institutional investors and hedge funds own 98.72% of the company's stock.

Insider Buying and Selling at Tractor Supply

In related news, Director Edna Morris purchased 1,560 shares of the stock in a transaction dated Tuesday, August 4th. The stock was bought at an average cost of $32.44 per share, with a total value of $50,606.40. Following the purchase, the director directly owned 279,720 shares in the company, valued at $9,074,116.80. The trade was a 0.56% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Harry A. Lawton III purchased 15,600 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The stock was purchased at an average price of $32.15 per share, for a total transaction of $501,540.00. Following the completion of the transaction, the chief executive officer directly owned 15,600 shares in the company, valued at $501,540. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have purchased 20,310 shares of company stock valued at $652,411. 0.64% of the stock is currently owned by company insiders.

Tractor Supply Trading Down 1.7%

TSCO opened at $32.29 on Thursday. The firm has a 50 day simple moving average of $33.41 and a 200 day simple moving average of $35.49. Tractor Supply Company has a fifty-two week low of $28.36 and a fifty-two week high of $58.28. The company has a market cap of $16.93 billion, a price-to-earnings ratio of 16.82, a price-to-earnings-growth ratio of 3.54 and a beta of 0.48. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.33 and a quick ratio of 0.23.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its earnings results on Thursday, July 23rd. The specialty retailer reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.82 by ($0.01). The business had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.58 billion. Tractor Supply had a return on equity of 41.74% and a net margin of 6.42%.Tractor Supply's revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.81 EPS. Tractor Supply has set its FY 2026 guidance at 1.900-2.000 EPS. On average, sell-side analysts anticipate that Tractor Supply Company will post 1.93 earnings per share for the current year.

Tractor Supply Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Monday, August 24th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, August 24th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.0%. Tractor Supply's payout ratio is 50.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Truist Financial set a $32.00 price objective on shares of Tractor Supply and gave the stock a "hold" rating in a report on Tuesday, June 16th. Wells Fargo & Company dropped their target price on shares of Tractor Supply from $47.00 to $35.00 and set an "overweight" rating for the company in a research note on Wednesday, July 15th. Robert W. Baird decreased their price target on shares of Tractor Supply from $50.00 to $38.00 and set an "outperform" rating on the stock in a research note on Monday, July 20th. Zacks Research lowered shares of Tractor Supply from a "hold" rating to a "strong sell" rating in a report on Monday, July 13th. Finally, UBS Group set a $33.00 price objective on shares of Tractor Supply and gave the stock a "neutral" rating in a research report on Tuesday, July 14th. Thirteen analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $39.31.

About Tractor Supply

Tractor Supply Company NASDAQ: TSCO is a specialty retailer serving the needs of recreational farmers, ranchers, homeowners, pet owners and other customers who live a rural lifestyle. The company operates Tractor Supply stores across the United States, offering products designed for agriculture, home improvement, outdoor living and animal care.

Its merchandise includes livestock and pet supplies, agricultural and lawn-and-garden equipment, tools, hardware, fencing, workwear, footwear, outdoor power equipment, seasonal goods and home products.

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