Davis R M Inc. Buys 16,713 Shares of Tractor Supply Company (NASDAQ:TSCO)

Key Points

• Davis R M Inc. increased its stake in Tractor Supply Company by 2.1%, owning approximately 797,347 shares valued at $43.93 million as reported in the latest SEC filing.
• Several institutional investors have also significantly increased their holdings, with FORA Capital LLC seeing a 434.1% increase in their share position during the fourth quarter.
• Tractor Supply reported a quarterly earnings per share of $0.81, beating estimates, while also announcing a dividend of $0.23 per share, reflecting a growth strategy amidst recent insider selling.

Davis R M Inc. boosted its stake in Tractor Supply Company (NASDAQ:TSCO - Free Report) by 2.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 797,347 shares of the specialty retailer's stock after purchasing an additional 16,713 shares during the period. Davis R M Inc. owned about 0.15% of Tractor Supply worth $43,934,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital World Investors raised its position in shares of Tractor Supply by 403.7% in the 4th quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer's stock worth $1,031,122,000 after acquiring an additional 15,575,311 shares in the last quarter. Capital International Investors raised its position in shares of Tractor Supply by 334.7% in the 4th quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer's stock worth $818,421,000 after acquiring an additional 11,880,010 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Tractor Supply by 403.2% in the 4th quarter. Geode Capital Management LLC now owns 14,519,937 shares of the specialty retailer's stock worth $768,838,000 after acquiring an additional 11,634,249 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Tractor Supply by 287.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,417,152 shares of the specialty retailer's stock worth $552,735,000 after acquiring an additional 7,729,628 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Tractor Supply by 407.9% in the 4th quarter. Invesco Ltd. now owns 8,766,224 shares of the specialty retailer's stock worth $465,136,000 after acquiring an additional 7,040,165 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

Tractor Supply Stock Up 1.2%

TSCO stock traded up $0.68 during mid-day trading on Friday, reaching $57.63. 5,505,274 shares of the company traded hands, compared to its average volume of 6,097,455. Tractor Supply Company has a fifty-two week low of $46.85 and a fifty-two week high of $63.99. The firm's 50 day moving average price is $53.97 and its 200 day moving average price is $53.52. The company has a quick ratio of 0.16, a current ratio of 1.28 and a debt-to-equity ratio of 0.68. The stock has a market cap of $30.56 billion, a price-to-earnings ratio of 28.28, a P/E/G ratio of 2.93 and a beta of 0.75.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its earnings results on Thursday, July 24th. The specialty retailer reported $0.81 EPS for the quarter, topping the consensus estimate of $0.80 by $0.01. Tractor Supply had a net margin of 7.18% and a return on equity of 46.83%. The firm had revenue of $4.44 billion for the quarter, compared to analysts' expectations of $4.40 billion. During the same quarter last year, the firm earned $3.93 EPS. The company's quarterly revenue was up 4.5% compared to the same quarter last year. As a group, equities research analysts predict that Tractor Supply Company will post 2.17 EPS for the current fiscal year.

Tractor Supply Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.92 annualized dividend and a dividend yield of 1.6%. Tractor Supply's dividend payout ratio (DPR) is currently 45.10%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Tractor Supply from $56.00 to $65.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Mizuho reduced their target price on Tractor Supply from $62.00 to $58.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Wall Street Zen upgraded Tractor Supply from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Bank of America upgraded Tractor Supply from an "underperform" rating to a "buy" rating and set a $70.00 target price for the company in a research note on Thursday, July 24th. Finally, Piper Sandler raised their target price on Tractor Supply from $66.00 to $67.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.80.

Insider Activity

In related news, Director Denise L. Jackson sold 4,630 shares of Tractor Supply 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 sale, the director owned 35,288 shares of the company's stock, valued at approximately $1,973,657.84. The trade was a 11.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kurt D. Barton sold 90,000 shares of Tractor Supply stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $63.96, for a total transaction of $5,756,400.00. Following the completion of the sale, the chief financial officer directly owned 47,715 shares in the company, valued at $3,051,851.40. This trade represents a 65.35% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 207,490 shares of company stock worth $12,216,998. Corporate insiders own 0.65% of the company's stock.

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.