TimesSquare Capital Management LLC Increases Stake in Tractor Supply Company (NASDAQ:TSCO)

TimesSquare Capital Management LLC boosted its position in Tractor Supply Company (NASDAQ:TSCO - Free Report) by 4.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,223,375 shares of the specialty retailer's stock after acquiring an additional 49,495 shares during the period. Tractor Supply accounts for 1.1% of TimesSquare Capital Management LLC's investment portfolio, making the stock its 29th biggest position. TimesSquare Capital Management LLC owned approximately 0.23% of Tractor Supply worth $67,408,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Assetmark Inc. increased its position in shares of Tractor Supply by 636.9% during the fourth quarter. Assetmark Inc. now owns 1,098 shares of the specialty retailer's stock valued at $58,000 after buying an additional 949 shares during the period. Proficio Capital Partners LLC increased its position in shares of Tractor Supply by 956.9% during the fourth quarter. Proficio Capital Partners LLC now owns 9,269 shares of the specialty retailer's stock valued at $492,000 after buying an additional 8,392 shares during the period. Independent Advisor Alliance increased its position in shares of Tractor Supply by 428.0% during the fourth quarter. Independent Advisor Alliance now owns 17,054 shares of the specialty retailer's stock valued at $905,000 after buying an additional 13,824 shares during the period. HighTower Advisors LLC increased its position in shares of Tractor Supply by 415.7% during the fourth quarter. HighTower Advisors LLC now owns 231,140 shares of the specialty retailer's stock valued at $12,264,000 after buying an additional 186,321 shares during the period. Finally, Great Lakes Advisors LLC increased its position in shares of Tractor Supply by 416.9% during the fourth quarter. Great Lakes Advisors LLC now owns 45,407 shares of the specialty retailer's stock valued at $2,409,000 after buying an additional 36,622 shares during the period. Institutional investors own 98.72% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TSCO. Guggenheim cut their price objective on shares of Tractor Supply from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Citigroup decreased their target price on shares of Tractor Supply from $59.00 to $51.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Raymond James Financial decreased their target price on shares of Tractor Supply from $61.00 to $57.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. UBS Group set a $54.00 target price on shares of Tractor Supply in a research note on Friday, April 25th. Finally, Mizuho decreased their target price on shares of Tractor Supply from $62.00 to $58.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Tractor Supply presently has a consensus rating of "Moderate Buy" and a consensus target price of $57.95.

Tractor Supply Stock Performance

NASDAQ TSCO traded up $0.64 during trading hours on Thursday, hitting $56.68. 1,465,403 shares of the company's stock traded hands, compared to its average volume of 5,154,620. The business's fifty day moving average price is $52.39 and its two-hundred day moving average price is $53.13. The company has a current ratio of 1.41, a quick ratio of 0.17 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $30.05 billion, a P/E ratio of 28.07, a P/E/G ratio of 3.03 and a beta of 0.75. Tractor Supply Company has a 52 week low of $46.85 and a 52 week high of $61.53.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.03). The business had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.55 billion. Tractor Supply had a net margin of 7.24% and a return on equity of 47.56%. The business's quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.83 earnings per share. Equities research analysts predict that Tractor Supply Company will post 2.17 EPS for the current year.

Tractor Supply Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were given a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.62%. Tractor Supply's payout ratio is currently 45.77%.

Insider Buying and Selling

In related news, Director Denise L. Jackson sold 4,630 shares of the company's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $55.93, for a total transaction of $258,955.90. Following the completion of the transaction, the director owned 35,288 shares in the company, valued at approximately $1,973,657.84. This represents a 11.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Matthew L. Rubin sold 2,810 shares of the company's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $51.76, for a total transaction of $145,445.60. Following the transaction, the senior vice president owned 29,722 shares of the company's stock, valued at approximately $1,538,410.72. This represents a 8.64% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 104,445 shares of company stock worth $5,669,742. 0.65% of the stock is owned by 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.