Norges Bank Makes New Investment in Tractor Supply (NASDAQ:TSCO)

Norges Bank bought a new position in shares of Tractor Supply (NASDAQ:TSCO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,211,738 shares of the specialty retailer's stock, valued at approximately $260,560,000. Norges Bank owned approximately 1.12% of Tractor Supply as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in TSCO. WCM Investment Management LLC purchased a new position in Tractor Supply during the 4th quarter worth approximately $782,000. Todd Asset Management LLC purchased a new position in Tractor Supply during the 4th quarter worth approximately $21,571,000. Impax Asset Management Group plc grew its stake in shares of Tractor Supply by 2,120.1% in the 4th quarter. Impax Asset Management Group plc now owns 121,817 shares of the specialty retailer's stock valued at $26,194,000 after purchasing an additional 116,330 shares during the last quarter. LPL Financial LLC grew its stake in shares of Tractor Supply by 4.6% in the 3rd quarter. LPL Financial LLC now owns 113,873 shares of the specialty retailer's stock valued at $23,122,000 after purchasing an additional 5,014 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of Tractor Supply by 32,987.5% in the 4th quarter. International Assets Investment Management LLC now owns 270,325 shares of the specialty retailer's stock valued at $58,128,000 after purchasing an additional 269,508 shares during the last quarter. Institutional investors and hedge funds own 98.72% of the company's stock.

Insider Activity

In other news, CFO Kurt D. Barton sold 4,335 shares of Tractor Supply stock in a transaction on Friday, March 15th. The stock was sold at an average price of $257.00, for a total value of $1,114,095.00. Following the completion of the sale, the chief financial officer now owns 20,678 shares of the company's stock, valued at $5,314,246. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Tractor Supply news, EVP Colin Yankee sold 8,675 shares of the business's stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $250.00, for a total transaction of $2,168,750.00. Following the completion of the sale, the executive vice president now owns 9,673 shares of the company's stock, valued at $2,418,250. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kurt D. Barton sold 4,335 shares of the business's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $257.00, for a total value of $1,114,095.00. Following the sale, the chief financial officer now directly owns 20,678 shares of the company's stock, valued at approximately $5,314,246. The disclosure for this sale can be found here. Company insiders own 0.58% of the company's stock.

Tractor Supply Price Performance

Shares of NASDAQ TSCO traded down $2.92 during trading on Wednesday, reaching $282.76. The company had a trading volume of 725,603 shares, compared to its average volume of 1,147,043. Tractor Supply has a twelve month low of $185.00 and a twelve month high of $287.89. The stock has a market capitalization of $30.48 billion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 3.57 and a beta of 0.82. The stock has a 50-day moving average price of $261.76 and a two-hundred day moving average price of $236.09. The company has a current ratio of 1.40, a quick ratio of 0.19 and a debt-to-equity ratio of 0.83.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share for the quarter, topping analysts' consensus estimates of $1.70 by $0.13. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The company had revenue of $3.39 billion during the quarter, compared to analysts' expectations of $3.40 billion. During the same period in the previous year, the firm posted $1.65 earnings per share. The business's revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, sell-side analysts predict that Tractor Supply will post 10.33 earnings per share for the current year.

Tractor Supply Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 28th will be given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Friday, May 24th. Tractor Supply's dividend payout ratio is currently 42.84%.

Analysts Set New Price Targets

TSCO has been the topic of several analyst reports. Barclays lifted their target price on Tractor Supply from $234.00 to $240.00 and gave the company an "equal weight" rating in a research note on Friday, April 26th. TD Cowen lifted their target price on Tractor Supply from $250.00 to $270.00 and gave the company a "buy" rating in a research note on Friday, April 26th. UBS Group lifted their target price on Tractor Supply from $220.00 to $240.00 and gave the company a "neutral" rating in a research note on Friday, February 2nd. Evercore ISI lifted their target price on Tractor Supply from $285.00 to $290.00 and gave the company an "outperform" rating in a research note on Tuesday, May 14th. Finally, Morgan Stanley lifted their price target on Tractor Supply from $195.00 to $235.00 and gave the company an "underweight" rating in a research note on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Tractor Supply currently has an average rating of "Hold" and an average price target of $253.96.

Tractor Supply Company 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.