Tractor Supply Company (NASDAQ:TSCO) Stock Position Raised by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. has increased its stake in Tractor Supply Company (NASDAQ:TSCO) by 4.1% during the first quarter, now owning approximately 12.53% of the company's shares, valued at $3.67 billion.
• Several research firms have raised their price targets for TSCO stock, with JPMorgan Chase & Co. and Raymond James setting targets as high as $65.00, indicating a positive outlook from analysts.
• In insider trading news, CFO Kurt D. Barton sold 90,000 shares of stock at an average price of $63.96, significantly decreasing his ownership by 65.35%.

Vanguard Group Inc. increased its stake in Tractor Supply Company (NASDAQ:TSCO - Free Report) by 4.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 66,631,422 shares of the specialty retailer's stock after acquiring an additional 2,597,450 shares during the quarter. Vanguard Group Inc. owned approximately 12.53% of Tractor Supply worth $3,671,391,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TSCO. Maxi Investments CY Ltd purchased a new position in Tractor Supply in the 1st quarter worth about $2,480,000. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Tractor Supply by 2.8% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 9,864 shares of the specialty retailer's stock worth $544,000 after buying an additional 266 shares during the period. Costello Asset Management INC purchased a new position in shares of Tractor Supply in the first quarter worth approximately $185,000. Commonwealth Retirement Investments LLC raised its holdings in shares of Tractor Supply by 7.1% during the first quarter. Commonwealth Retirement Investments LLC now owns 22,041 shares of the specialty retailer's stock valued at $1,214,000 after acquiring an additional 1,462 shares during the period. Finally, Advyzon Investment Management LLC lifted its position in shares of Tractor Supply by 15.8% in the 1st quarter. Advyzon Investment Management LLC now owns 7,033 shares of the specialty retailer's stock valued at $388,000 after acquiring an additional 957 shares in the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TSCO. UBS Group lifted their price objective on shares of Tractor Supply from $54.00 to $61.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Evercore ISI lifted their price target on Tractor Supply from $60.00 to $65.00 and gave the company an "in-line" rating in a report on Friday, July 25th. Loop Capital increased their price objective on Tractor Supply from $48.00 to $60.00 and gave the stock a "hold" rating in a research note on Friday, July 25th. 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 report on Monday, July 21st. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $65.00 target price (up previously from $57.00) on shares of Tractor Supply in a research note on Friday, July 25th. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $61.80.

Insider Activity at Tractor Supply

In other Tractor Supply news, EVP Jonathan S. Estep sold 35,825 shares of Tractor Supply stock in a transaction that occurred on 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 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kurt D. Barton sold 90,000 shares of the stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $63.96, for a total value of $5,756,400.00. Following the completion of the sale, the chief financial officer directly owned 47,715 shares of the company's stock, valued at $3,051,851.40. This represents a 65.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 207,490 shares of company stock valued at $12,216,998. 0.65% of the stock is owned by corporate insiders.

Tractor Supply Stock Down 0.4%

TSCO opened at $60.02 on Friday. The firm has a market cap of $31.82 billion, a P/E ratio of 29.45, a price-to-earnings-growth ratio of 3.10 and a beta of 0.75. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 1.28. The business has a 50 day moving average price of $54.80 and a 200 day moving average price of $53.69. Tractor Supply Company has a twelve month low of $46.85 and a twelve month high of $63.99.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The specialty retailer reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.01. Tractor Supply had a net margin of 7.18% and a return on equity of 46.83%. The company had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.40 billion. During the same quarter last year, the firm posted $3.93 earnings per share. The company's quarterly 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Monday, August 25th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.5%. Tractor Supply's dividend payout ratio (DPR) is 45.10%.

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.

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