Covea Finance Has $13.68 Million Position in Tractor Supply Company $TSCO

Covea Finance increased its holdings in shares of Tractor Supply Company (NASDAQ:TSCO) by 48.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 273,580 shares of the specialty retailer’s stock after purchasing an additional 89,093 shares during the period. Covea Finance owned approximately 0.05% of Tractor Supply worth $13,682,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Delos Wealth Advisors LLC bought a new position in Tractor Supply in the 2nd quarter worth approximately $26,000. JPL Wealth Management LLC bought a new stake in shares of Tractor Supply in the third quarter valued at approximately $28,000. Clayton Financial Group LLC bought a new stake in shares of Tractor Supply in the third quarter valued at approximately $44,000. First Horizon Corp acquired a new stake in shares of Tractor Supply in the third quarter worth $44,000. Finally, Stance Capital LLC bought a new position in Tractor Supply during the third quarter worth $45,000. Institutional investors own 98.72% of the company’s stock.

Insider Activity

In other news, EVP Colin Yankee sold 11,170 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $55.35, for a total value of $618,259.50. Following the sale, the executive vice president directly owned 45,515 shares in the company, valued at approximately $2,519,255.25. This represents a 19.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Kurt D. Barton sold 1,929 shares of the stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $53.94, for a total value of $104,050.26. Following the completion of the transaction, the chief financial officer directly owned 44,736 shares of the company’s stock, valued at approximately $2,413,059.84. The trade was a 4.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 222,348 shares of company stock valued at $11,959,621. 0.65% of the stock is owned by company insiders.

Analysts Set New Price Targets

TSCO has been the subject of several research analyst reports. Wall Street Zen cut shares of Tractor Supply from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. TD Cowen dropped their price objective on shares of Tractor Supply from $55.00 to $53.00 and set a “hold” rating on the stock in a report on Friday, January 30th. DA Davidson reaffirmed a “buy” rating and set a $60.00 price objective on shares of Tractor Supply in a research report on Friday, January 30th. Truist Financial set a $55.00 target price on shares of Tractor Supply and gave the company a “hold” rating in a research note on Friday, January 16th. Finally, Stephens set a $53.00 target price on Tractor Supply and gave the stock an “equal weight” rating in a research report on Thursday, January 22nd. Fifteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Tractor Supply has an average rating of “Moderate Buy” and an average target price of $59.78.

Tractor Supply Stock Down 0.9%

TSCO opened at $45.77 on Friday. The company has a market capitalization of $24.09 billion, a P/E ratio of 22.11, a P/E/G ratio of 2.31 and a beta of 0.72. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.34 and a quick ratio of 0.16. The firm’s fifty day moving average price is $51.86 and its two-hundred day moving average price is $53.74. Tractor Supply Company has a fifty-two week low of $45.45 and a fifty-two week high of $63.99.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings data on Thursday, January 29th. The specialty retailer reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.03). The business had revenue of $3.90 billion during the quarter, compared to analyst estimates of $4.03 billion. Tractor Supply had a net margin of 7.06% and a return on equity of 44.36%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.44 EPS. On average, analysts anticipate that Tractor Supply Company will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.1%. This is a boost from Tractor Supply’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Tuesday, February 24th. Tractor Supply’s dividend payout ratio (DPR) is currently 46.38%.

Tractor Supply Company Profile

Tractor Supply Company (NASDAQ: TSCO) is a specialty retailer focused on products for the home, farm, ranch and outdoors. The company operates a network of physical retail locations complemented by an e-commerce platform, offering a one-stop source of supplies and equipment for customers with rural and suburban lifestyles. Its merchandise assortment targets a range of needs, from animal and livestock care to maintenance, outdoor power equipment, and seasonal products.

Product categories include animal feed and supplies, pet products, fencing and fencing supplies, equine equipment, lawn and garden tools, work clothing and footwear, and small agricultural and outdoor power equipment.