First National Advisers LLC Purchases 14,088 Shares of Tractor Supply Company (NASDAQ:TSCO)

Key Points

• First National Advisers LLC significantly increased its stake in Tractor Supply Company by 230.6% during Q1, holding a total of 20,198 shares valued at approximately $1.11 million.
• Tractor Supply's earnings surpassed analyst estimates, reporting $0.81 earnings per share and a revenue of $4.44 billion for the latest quarter, reflecting a 4.5% year-over-year increase.
• Insider trading activity included the sale of 105,610 shares by executives in the last quarter, highlighting a decrease in their holdings, with less than 1% of the stock owned by insiders.

First National Advisers LLC grew its stake in Tractor Supply Company (NASDAQ:TSCO - Free Report) by 230.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,198 shares of the specialty retailer's stock after purchasing an additional 14,088 shares during the quarter. First National Advisers LLC's holdings in Tractor Supply were worth $1,113,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in TSCO. Wellington Management Group LLP grew its holdings in shares of Tractor Supply by 401.8% in the 4th quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer's stock valued at $1,262,258,000 after buying an additional 19,048,385 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Tractor Supply by 403.3% in the 4th quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer's stock valued at $1,180,932,000 after buying an additional 17,834,643 shares during the period. Capital World Investors grew its holdings 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 valued at $1,031,122,000 after buying an additional 15,575,311 shares during the period. Capital International Investors grew its holdings 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 valued at $818,421,000 after buying an additional 11,880,010 shares during the period. Finally, Geode Capital Management LLC grew its holdings 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 valued at $768,838,000 after buying an additional 11,634,249 shares during the period. Institutional investors and hedge funds own 98.72% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TSCO shares. Robert W. Baird boosted their price target on shares of Tractor Supply from $56.00 to $61.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Guggenheim reduced their target price on shares of Tractor Supply from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Loop Capital lifted their price target on Tractor Supply from $48.00 to $60.00 and gave the company a "hold" rating in a research note on Friday, July 25th. Piper Sandler lifted their price target on Tractor Supply from $66.00 to $67.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Finally, Bank of America raised Tractor Supply from an "underperform" rating to a "buy" rating and set a $70.00 price target on the stock in a research note on Thursday, July 24th. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $61.80.

Tractor Supply Stock Performance

Shares of TSCO traded down $0.20 during mid-day trading on Thursday, hitting $57.63. 1,391,298 shares of the company's stock were exchanged, compared to its average volume of 5,682,571. Tractor Supply Company has a 52 week low of $46.85 and a 52 week high of $63.99. The stock's 50-day simple moving average is $53.67 and its 200-day simple moving average is $53.47. The firm has a market cap of $30.56 billion, a price-to-earnings ratio of 28.28, a price-to-earnings-growth ratio of 3.01 and a beta of 0.75. 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 business had revenue of $4.44 billion for the quarter, compared to analysts' expectations of $4.40 billion. Tractor Supply had a net margin of 7.18% and a return on equity of 46.83%. The firm's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the firm posted $3.93 earnings per share. On average, equities research analysts expect that Tractor Supply Company will post 2.17 EPS for the current year.

Tractor Supply Cuts Dividend

The business also recently announced 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 yield of 1.60%. Tractor Supply's dividend payout ratio is currently 45.10%.

Insider Transactions at Tractor Supply

In other news, EVP Colin Yankee sold 6,680 shares of Tractor Supply stock in a transaction on Monday, July 28th. The shares were sold at an average price of $58.40, for a total transaction of $390,112.00. Following the transaction, the executive vice president owned 40,142 shares in the company, valued at approximately $2,344,292.80. The trade was a 14.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jonathan S. Estep sold 35,825 shares of Tractor Supply stock in a transaction on Monday, July 7th. The stock was sold at an average price of $56.00, for a total transaction of $2,006,200.00. Following the transaction, the executive vice president owned 74,605 shares in the company, valued at approximately $4,177,880. This trade represents a 32.44% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 207,490 shares of company stock valued at $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.