Asset Management One Co. Ltd. Raises Stock Holdings in Tractor Supply Company (NASDAQ:TSCO)

Asset Management One Co. Ltd. increased its position in Tractor Supply Company (NASDAQ:TSCO) by 7.5% during the 1st quarter, Holdings Channel reports. The institutional investor owned 220,704 shares of the specialty retailer’s stock after purchasing an additional 15,380 shares during the period. Asset Management One Co. Ltd.’s holdings in Tractor Supply were worth $12,161,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Coppell Advisory Solutions LLC increased its stake in shares of Tractor Supply by 944.4% in the fourth quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer’s stock worth $25,000 after buying an additional 425 shares during the period. Smithfield Trust Co increased its stake in shares of Tractor Supply by 286.2% in the fourth quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer’s stock worth $25,000 after buying an additional 352 shares during the period. First Command Advisory Services Inc. increased its stake in shares of Tractor Supply by 400.0% in the fourth quarter. First Command Advisory Services Inc. now owns 500 shares of the specialty retailer’s stock worth $27,000 after buying an additional 400 shares during the period. Whittier Trust Co. increased its stake in shares of Tractor Supply by 400.0% in the fourth quarter. Whittier Trust Co. now owns 500 shares of the specialty retailer’s stock worth $27,000 after buying an additional 400 shares during the period. Finally, Dunhill Financial LLC increased its stake in shares of Tractor Supply by 325.8% in the fourth quarter. Dunhill Financial LLC now owns 511 shares of the specialty retailer’s stock worth $27,000 after buying an additional 391 shares during the period. 98.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TSCO shares. Stephens started coverage on shares of Tractor Supply in a report on Wednesday, April 9th. They issued an “equal weight” rating and a $56.00 price target on the stock. UBS Group set a $54.00 price target on shares of Tractor Supply in a report on Friday, April 25th. Robert W. Baird cut their price target on shares of Tractor Supply from $63.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Raymond James Financial cut their price target on shares of Tractor Supply from $61.00 to $57.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Finally, Wall Street Zen cut shares of Tractor Supply from a “hold” rating to a “sell” rating in a report on Friday, June 6th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Tractor Supply currently has an average rating of “Moderate Buy” and an average target price of $58.02.

Tractor Supply Price Performance

Shares of NASDAQ:TSCO opened at $51.84 on Friday. Tractor Supply Company has a fifty-two week low of $46.85 and a fifty-two week high of $61.53. The business has a 50-day simple moving average of $50.89 and a two-hundred day simple moving average of $53.08. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.17 and a current ratio of 1.41. The firm has a market cap of $27.49 billion, a price-to-earnings ratio of 25.74, a price-to-earnings-growth ratio of 2.84 and a beta of 0.74.

Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). Tractor Supply had a return on equity of 47.56% and a net margin of 7.24%. The business had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.55 billion. During the same period last year, the firm posted $1.83 EPS. Tractor Supply’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, analysts expect that Tractor Supply Company will post 2.17 earnings per share for the current year.

Tractor Supply Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend was Wednesday, May 28th. Tractor Supply’s payout ratio is currently 45.77%.

Insider Activity

In other Tractor Supply news, SVP Matthew L. Rubin sold 2,810 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total value of $145,445.60. Following the completion of the transaction, the senior vice president now directly owns 29,722 shares in the company, valued at $1,538,410.72. This represents a 8.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jonathan S. Estep sold 56,630 shares of the company’s stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $53.00, for a total transaction of $3,001,390.00. Following the transaction, the executive vice president now owns 74,605 shares of the company’s stock, valued at approximately $3,954,065. This represents a 43.15% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.65% 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.