Allspring Global Investments Holdings LLC Raises Position in Tractor Supply Company (NASDAQ:TSCO)

Allspring Global Investments Holdings LLC raised its holdings in Tractor Supply Company (NASDAQ:TSCO) by 7.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 70,944 shares of the specialty retailer’s stock after buying an additional 5,184 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Tractor Supply were worth $3,911,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Coppell Advisory Solutions LLC boosted its position in Tractor Supply by 944.4% in the 4th quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 425 shares during the period. Whittier Trust Co. boosted its position in Tractor Supply by 400.0% in the 4th quarter. Whittier Trust Co. now owns 500 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 400 shares during the period. Dunhill Financial LLC boosted its position in Tractor Supply by 325.8% in the 4th quarter. Dunhill Financial LLC now owns 511 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 391 shares during the period. Pacific Center for Financial Services boosted its position in Tractor Supply by 400.0% in the 4th quarter. Pacific Center for Financial Services now owns 550 shares of the specialty retailer’s stock valued at $29,000 after buying an additional 440 shares during the period. Finally, LRI Investments LLC boosted its position in Tractor Supply by 400.0% in the 4th quarter. LRI Investments LLC now owns 615 shares of the specialty retailer’s stock valued at $33,000 after buying an additional 492 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Insider Transactions at Tractor Supply

In other news, SVP Matthew L. Rubin sold 2,810 shares of the business’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total transaction of $145,445.60. Following the transaction, the senior vice president directly owned 29,722 shares in the company, valued at $1,538,410.72. The trade was a 8.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jonathan S. Estep sold 56,630 shares of the business’s stock in a transaction dated 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 owned 74,605 shares in the company, valued at approximately $3,954,065. This trade represents a 43.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.

Tractor Supply Trading Down 0.6%

NASDAQ TSCO opened at $54.80 on Monday. 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 $29.05 billion, a PE ratio of 27.21, a P/E/G ratio of 2.94 and a beta of 0.75. Tractor Supply Company has a one year low of $46.85 and a one year high of $61.53. The firm’s fifty day moving average is $51.36 and its two-hundred day moving average is $52.98.

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

Tractor Supply Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.68%. Tractor Supply’s dividend payout ratio (DPR) is 45.77%.

Analysts Set New Price Targets

Several equities analysts have commented on TSCO shares. Stephens began coverage on shares of Tractor Supply in a research report on Wednesday, April 9th. They issued an “equal weight” rating and a $56.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on shares of Tractor Supply from $59.00 to $56.00 and set a “neutral” rating for the company in a research report on Monday, April 28th. Raymond James Financial decreased their price objective on shares of Tractor Supply from $61.00 to $57.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Citigroup decreased their price objective on shares of Tractor Supply from $59.00 to $51.00 and set a “neutral” rating for the company in a research report on Friday, April 25th. Finally, Mizuho decreased their price objective on shares of Tractor Supply from $62.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $58.02.

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.