Contravisory Investment Management Inc. Raises Position in Tractor Supply (NASDAQ:TSCO)

Contravisory Investment Management Inc. lifted its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 3.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 2,797 shares of the specialty retailer’s stock after acquiring an additional 82 shares during the period. Contravisory Investment Management Inc.’s holdings in Tractor Supply were worth $618,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Tractor Supply during the fourth quarter worth $264,936,000. Alliancebernstein L.P. boosted its stake in Tractor Supply by 84.0% during the fourth quarter. Alliancebernstein L.P. now owns 2,159,008 shares of the specialty retailer’s stock worth $485,712,000 after buying an additional 985,799 shares during the last quarter. Morgan Stanley grew its holdings in shares of Tractor Supply by 30.8% in the fourth quarter. Morgan Stanley now owns 1,642,115 shares of the specialty retailer’s stock valued at $369,427,000 after purchasing an additional 387,155 shares during the period. Findlay Park Partners LLP purchased a new stake in shares of Tractor Supply in the 1st quarter valued at approximately $64,548,000. Finally, DekaBank Deutsche Girozentrale raised its position in Tractor Supply by 262.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 322,907 shares of the specialty retailer’s stock valued at $73,683,000 after purchasing an additional 233,845 shares during the period. Institutional investors and hedge funds own 90.38% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on TSCO. Telsey Advisory Group reaffirmed an “outperform” rating and set a $265.00 price objective on shares of Tractor Supply in a research report on Friday, July 28th. Piper Sandler reduced their price objective on Tractor Supply from $262.00 to $256.00 and set an “overweight” rating for the company in a research note on Friday, July 28th. UBS Group cut their target price on shares of Tractor Supply from $247.00 to $230.00 and set a “neutral” rating on the stock in a report on Friday, July 28th. StockNews.com started coverage on shares of Tractor Supply in a research note on Thursday, August 17th. They set a “hold” rating for the company. Finally, Wedbush reduced their target price on shares of Tractor Supply from $240.00 to $230.00 and set a “neutral” rating for the company in a report on Friday, July 28th. Ten equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Tractor Supply presently has a consensus rating of “Moderate Buy” and a consensus price target of $246.83.

Tractor Supply Stock Performance

Shares of NASDAQ TSCO traded down $2.00 during midday trading on Monday, hitting $210.84. The company’s stock had a trading volume of 344,590 shares, compared to its average volume of 1,162,886. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.41 and a current ratio of 1.60. The firm’s fifty day moving average price is $218.70 and its 200-day moving average price is $225.10. The firm has a market cap of $22.94 billion, a P/E ratio of 21.26, a P/E/G ratio of 2.70 and a beta of 0.80. Tractor Supply has a 1-year low of $181.40 and a 1-year high of $251.17.

Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Thursday, July 27th. The specialty retailer reported $3.83 EPS for the quarter, missing the consensus estimate of $3.91 by ($0.08). The firm had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.26 billion. Tractor Supply had a return on equity of 55.57% and a net margin of 7.52%. Tractor Supply’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the company posted $3.53 EPS. On average, sell-side analysts forecast that Tractor Supply will post 10.27 EPS for the current fiscal year.

Tractor Supply Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Monday, August 28th were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date was Friday, August 25th. Tractor Supply’s payout ratio is currently 41.16%.

Insider Transactions at Tractor Supply

In other news, CFO Kurt D. Barton sold 7,487 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $222.43, for a total transaction of $1,665,333.41. Following the sale, the chief financial officer now owns 19,574 shares in the company, valued at $4,353,844.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

Tractor Supply Company Profile

Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company offers a selection of merchandise, including equine, livestock, pet, and small animal products necessary for their health, care, growth, and containment; hardware, truck, towing, and tool products; seasonal products, such as heating products, lawn and garden items, power equipment, gifts, and toys; work/recreational clothing and footwear; and maintenance products for agricultural and rural use.