Barings LLC Decreases Position in Tractor Supply Company (NASDAQ:TSCO)

Key Points

• Barings LLC has reduced its stake in Tractor Supply Company by 16.1%, owning 50,108 shares worth approximately $2.76 million after selling 9,612 shares.
• Several institutional investors have increased their positions, with FORA Capital LLC boosting its holdings by 434.1% in the last quarter.
• Tractor Supply recently posted quarterly earnings, reporting an EPS of $0.81, beating analyst estimates and showing a 4.5% year-over-year revenue increase.

Barings LLC decreased its holdings in Tractor Supply Company (NASDAQ:TSCO - Free Report) by 16.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,108 shares of the specialty retailer's stock after selling 9,612 shares during the period. Barings LLC's holdings in Tractor Supply were worth $2,761,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Coppell Advisory Solutions LLC grew 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 buying an additional 425 shares during the period. GW&K Investment Management LLC grew its position in Tractor Supply by 89.3% during the 1st quarter. GW&K Investment Management LLC now owns 479 shares of the specialty retailer's stock valued at $26,000 after purchasing an additional 226 shares during the last quarter. Dunhill Financial LLC grew its position in Tractor Supply by 325.8% during the 4th quarter. Dunhill Financial LLC now owns 511 shares of the specialty retailer's stock valued at $27,000 after purchasing an additional 391 shares during the last quarter. Pacific Center for Financial Services grew its position in Tractor Supply by 400.0% during the 4th quarter. Pacific Center for Financial Services now owns 550 shares of the specialty retailer's stock valued at $29,000 after purchasing an additional 440 shares during the last quarter. Finally, LRI Investments LLC grew its position in Tractor Supply by 400.0% during the 4th quarter. LRI Investments LLC now owns 615 shares of the specialty retailer's stock valued at $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 Price Performance

TSCO stock traded up $0.48 during midday trading on Wednesday, reaching $60.25. The stock had a trading volume of 3,830,402 shares, compared to its average volume of 5,670,545. Tractor Supply Company has a 52-week low of $46.85 and a 52-week high of $63.99. The company has a market cap of $31.94 billion, a price-to-earnings ratio of 29.56, a price-to-earnings-growth ratio of 3.06 and a beta of 0.75. The company's fifty day simple moving average is $54.36 and its 200 day simple moving average is $53.60. 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 (NASDAQ:TSCO - Get Free Report) last issued its earnings results on Thursday, July 24th. The specialty retailer reported $0.81 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $4.40 billion. During the same period last year, the company earned $3.93 EPS. The company's revenue for the quarter was up 4.5% on a year-over-year basis. As a group, sell-side analysts predict that Tractor Supply Company will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Wednesday, May 28th. Tractor Supply's dividend payout ratio (DPR) is presently 45.10%.

Analysts Set New Price Targets

Several research firms have issued reports on TSCO. Mizuho lowered their target price on shares of Tractor Supply from $62.00 to $58.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. The Goldman Sachs Group restated a "buy" rating on shares of Tractor Supply in a research note on Friday, July 25th. DA Davidson increased their price objective on shares of Tractor Supply from $65.00 to $70.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Evercore ISI increased their price objective on shares of Tractor Supply from $60.00 to $65.00 and gave the stock an "in-line" rating in a research note on Friday, July 25th. Finally, Stephens began coverage on shares of Tractor Supply in a research note on Wednesday, April 9th. They issued an "equal weight" rating and a $56.00 price objective on the stock. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Tractor Supply currently has a consensus rating of "Moderate Buy" and an average price target of $61.80.

Insider Activity

In other Tractor Supply news, EVP Jonathan S. Estep sold 35,825 shares of Tractor Supply stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $56.00, for a total value of $2,006,200.00. Following the completion of the transaction, the executive vice president directly owned 74,605 shares of the company's stock, valued at $4,177,880. The trade was a 32.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Noni L. Ellison sold 5,200 shares of Tractor Supply stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $63.96, for a total value 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 approximately $1,831,750.44. This represents a 15.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 207,490 shares of company stock worth $12,216,998. 0.65% of the stock is currently owned by corporate insiders.

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.