National Bank of Canada FI Increases Stock Position in Tractor Supply (NASDAQ:TSCO)

National Bank of Canada FI grew its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 7.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,917 shares of the specialty retailer’s stock after acquiring an additional 2,303 shares during the period. National Bank of Canada FI’s holdings in Tractor Supply were worth $7,344,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in shares of Tractor Supply by 9,370.6% in the 3rd quarter. Wellington Management Group LLP now owns 2,822,151 shares of the specialty retailer’s stock valued at $573,038,000 after acquiring an additional 2,792,352 shares during the last quarter. Invesco Ltd. raised its stake in Tractor Supply by 76.7% during the third quarter. Invesco Ltd. now owns 2,024,182 shares of the specialty retailer’s stock worth $411,010,000 after acquiring an additional 878,874 shares during the period. Alecta Tjanstepension Omsesidigt raised its stake in Tractor Supply by 87.5% during the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 750,000 shares of the specialty retailer’s stock worth $161,272,000 after acquiring an additional 350,000 shares during the period. International Assets Investment Management LLC lifted its holdings in Tractor Supply by 32,987.5% in the fourth quarter. International Assets Investment Management LLC now owns 270,325 shares of the specialty retailer’s stock worth $58,128,000 after acquiring an additional 269,508 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Tractor Supply by 22.4% in the third quarter. Envestnet Asset Management Inc. now owns 1,148,340 shares of the specialty retailer’s stock valued at $233,170,000 after acquiring an additional 210,131 shares during the period. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Raymond James upped their price objective on Tractor Supply from $250.00 to $285.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Evercore ISI boosted their target price on shares of Tractor Supply from $275.00 to $280.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Telsey Advisory Group raised their price target on shares of Tractor Supply from $280.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Stephens downgraded Tractor Supply from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $226.00 to $240.00 in a research report on Tuesday, January 23rd. Finally, Robert W. Baird raised their target price on Tractor Supply from $260.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Tractor Supply currently has an average rating of “Hold” and a consensus price target of $253.54.

Tractor Supply Price Performance

Shares of NASDAQ:TSCO opened at $269.70 on Friday. The company has a market cap of $29.11 billion, a P/E ratio of 26.26, a price-to-earnings-growth ratio of 3.41 and a beta of 0.82. The company’s fifty day moving average is $257.31 and its two-hundred day moving average is $230.83. The company has a quick ratio of 0.19, a current ratio of 1.40 and a debt-to-equity ratio of 0.83. Tractor Supply has a 12-month low of $185.00 and a 12-month high of $279.38.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.13. The firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.40 billion. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. Tractor Supply’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.65 earnings per share. Equities analysts expect that Tractor Supply will post 10.3 earnings per share for the current fiscal year.

Tractor Supply Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 28th will be paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.63%. Tractor Supply’s dividend payout ratio (DPR) is currently 42.84%.

Insider Activity

In related 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 transaction 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Tractor Supply news, CFO Kurt D. Barton sold 4,335 shares of Tractor Supply stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 20,678 shares in the company, valued at $5,314,246. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert D. Mills sold 48,334 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $232.23, for a total value of $11,224,604.82. Following the sale, the executive vice president now directly owns 22,167 shares of the company’s stock, valued at approximately $5,147,842.41. The disclosure for this sale can be found here. Insiders have sold a total of 62,470 shares of company stock worth $14,773,121 in the last ninety days. Corporate insiders own 0.58% of the company’s stock.

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.