Swiss National Bank Lowers Stock Position in Tractor Supply Company (NASDAQ:TSCO)

Key Points

• The Swiss National Bank reduced its holdings in Tractor Supply Company by 1.1%, owning 1,506,600 shares valued at approximately $83 million after selling 16,900 shares in the first quarter.
• Tractor Supply Company reported $0.81 EPS, exceeding analysts' expectations of $0.80, alongside a 4.5% increase in revenue year-over-year.
• Insider trading activities revealed a significant 14.27% reduction in position by EVP Colin Yankee, who sold 6,680 shares at an average price of $58.40.

Swiss National Bank lowered its position in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) by 1.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,506,600 shares of the specialty retailer's stock after selling 16,900 shares during the quarter. Swiss National Bank owned about 0.28% of Tractor Supply worth $83,014,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Coppell Advisory Solutions LLC raised its position in shares of Tractor Supply by 944.4% in the 4th quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer's stock worth $25,000 after purchasing an additional 425 shares during the last quarter. GW&K Investment Management LLC raised its position in shares of Tractor Supply by 89.3% in the 1st quarter. GW&K Investment Management LLC now owns 479 shares of the specialty retailer's stock worth $26,000 after purchasing an additional 226 shares during the last quarter. Dunhill Financial LLC raised its position in shares of Tractor Supply by 325.8% in the 4th quarter. Dunhill Financial LLC now owns 511 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 391 shares during the last quarter. Pacific Center for Financial Services raised its position in shares of Tractor Supply by 400.0% in the 4th quarter. Pacific Center for Financial Services now owns 550 shares of the specialty retailer's stock worth $29,000 after purchasing an additional 440 shares during the last quarter. Finally, LRI Investments LLC raised its position in shares of Tractor Supply by 400.0% in the 4th quarter. LRI Investments LLC now owns 615 shares of the specialty retailer's stock worth $33,000 after purchasing an additional 492 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company's stock.

Tractor Supply Trading Down 1.3%

Tractor Supply stock opened at $59.26 on Friday. The business has a 50-day simple moving average of $55.02 and a two-hundred day simple moving average of $53.68. The company has a market cap of $31.42 billion, a P/E ratio of 29.08, a P/E/G ratio of 3.05 and a beta of 0.75. Tractor Supply Company has a 52-week low of $46.85 and a 52-week high of $63.99. The company has a quick ratio of 0.16, a current ratio of 1.28 and a debt-to-equity ratio of 0.68.

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

Tractor Supply Dividend Announcement

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

Insider Activity at Tractor Supply

In related news, EVP Colin Yankee sold 6,680 shares of the business's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $58.40, for a total transaction of $390,112.00. Following the completion of the transaction, the executive vice president directly owned 40,142 shares in the company, valued at approximately $2,344,292.80. The trade was a 14.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Denise L. Jackson sold 4,630 shares of the business's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $55.93, for a total value of $258,955.90. Following the transaction, the director owned 35,288 shares of the company's stock, valued at approximately $1,973,657.84. This trade represents a 11.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 207,490 shares of company stock worth $12,216,998 in the last quarter. 0.65% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Evercore ISI lifted their price target on Tractor Supply from $60.00 to $65.00 and gave the stock an "in-line" rating in a research report on Friday, July 25th. Loop Capital lifted their price target on Tractor Supply from $48.00 to $60.00 and gave the stock a "hold" rating in a research report on Friday, July 25th. Robert W. Baird lifted their price target on Tractor Supply from $56.00 to $61.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. JPMorgan Chase & Co. lifted their price target on Tractor Supply from $56.00 to $65.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Finally, Bank of America raised Tractor Supply from an "underperform" rating to a "buy" rating and set a $70.00 target price for the company in a research report on Thursday, July 24th. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target 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.

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