National Bank of Canada FI Buys 63,552 Shares of Tractor Supply Company (NASDAQ:TSCO)

Key Points

• National Bank of Canada FI increased its stake in Tractor Supply Company by 36.4%, now holding 237,931 shares valued at approximately $13.11 million.
• Several other institutional investors also modified their holdings, with Citigroup and Mitsubishi UFJ Asset Management boosting their stakes by 21.4% and 12.9% respectively during the first quarter.
• Tractor Supply recently announced a $0.23 per share dividend, reflecting a dividend yield of 1.5%, with an expected earnings per share of 2.17 for the current year.

National Bank of Canada FI grew its stake in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) by 36.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 237,931 shares of the specialty retailer's stock after purchasing an additional 63,552 shares during the quarter. National Bank of Canada FI's holdings in Tractor Supply were worth $13,110,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. FORA Capital LLC boosted its position in shares of Tractor Supply by 434.1% during the 4th quarter. FORA Capital LLC now owns 35,526 shares of the specialty retailer's stock worth $1,885,000 after purchasing an additional 28,875 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Tractor Supply by 7.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 70,944 shares of the specialty retailer's stock worth $3,911,000 after purchasing an additional 5,184 shares in the last quarter. Sowell Financial Services LLC boosted its holdings in Tractor Supply by 49.3% in the 1st quarter. Sowell Financial Services LLC now owns 20,029 shares of the specialty retailer's stock worth $1,104,000 after acquiring an additional 6,612 shares during the period. Sequoia Financial Advisors LLC boosted its stake in shares of Tractor Supply by 9.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 112,233 shares of the specialty retailer's stock valued at $6,184,000 after buying an additional 9,483 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Tractor Supply by 27.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 319,132 shares of the specialty retailer's stock valued at $17,584,000 after buying an additional 68,487 shares during the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Jonathan S. Estep sold 56,630 shares of the stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $53.00, for a total value of $3,001,390.00. Following the completion of the sale, the executive vice president directly owned 74,605 shares of the company's stock, valued at approximately $3,954,065. This represents a 43.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Colin Yankee sold 6,680 shares of the business's stock in a transaction 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 transaction, the executive vice president directly owned 40,142 shares in the company, valued at $2,344,292.80. This trade represents a 14.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold 204,680 shares of company stock worth $12,071,552 in the last three months. 0.65% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TSCO. JPMorgan Chase & Co. raised their price objective on Tractor Supply from $56.00 to $65.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. DA Davidson raised their price target on Tractor Supply from $65.00 to $70.00 and gave the company a "buy" rating in a report on Friday, July 25th. Wall Street Zen raised Tractor Supply from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Bank of America raised Tractor Supply from an "underperform" rating to a "buy" rating and set a $70.00 target price on the stock in a report on Thursday, July 24th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $65.00 target price (up from $57.00) on shares of Tractor Supply in a report on Friday, July 25th. Nine analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $61.80.

Tractor Supply Stock Up 1.0%

Shares of TSCO traded up $0.58 during midday trading on Friday, reaching $60.27. 2,032,073 shares of the stock were exchanged, compared to its average volume of 5,588,391. The firm has a 50 day simple moving average of $55.83 and a 200-day simple moving average of $53.76. 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 Company has a 12-month low of $46.85 and a 12-month high of $63.99. The company has a market cap of $31.94 billion, a price-to-earnings ratio of 29.59, a P/E/G ratio of 3.07 and a beta of 0.75.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The specialty retailer reported $0.81 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.01. Tractor Supply had a return on equity of 46.83% and a net margin of 7.18%. The business had revenue of $4.44 billion for the quarter, compared to the consensus estimate of $4.40 billion. During the same period last year, the business earned $3.93 EPS. The firm's revenue was up 4.5% compared to the same quarter last year. Research analysts forecast 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 $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, August 25th. Tractor Supply's dividend payout ratio (DPR) is presently 45.10%.

Tractor Supply 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.