Envestnet Asset Management Inc. Buys 60,035 Shares of Tractor Supply Company $TSCO

Envestnet Asset Management Inc. boosted its stake in Tractor Supply Company (NASDAQ:TSCO) by 1.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,629,713 shares of the specialty retailer’s stock after purchasing an additional 60,035 shares during the quarter. Envestnet Asset Management Inc. owned about 0.87% of Tractor Supply worth $263,292,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. increased its stake in shares of Tractor Supply by 123.4% in the 2nd quarter. Invesco Ltd. now owns 15,079,313 shares of the specialty retailer’s stock valued at $795,735,000 after acquiring an additional 8,329,462 shares during the last quarter. Norges Bank acquired a new position in Tractor Supply during the second quarter valued at approximately $274,959,000. Select Equity Group L.P. increased its stake in Tractor Supply by 41.9% in the second quarter. Select Equity Group L.P. now owns 12,713,409 shares of the specialty retailer’s stock valued at $670,887,000 after purchasing an additional 3,753,414 shares in the last quarter. AXA S.A. raised its holdings in Tractor Supply by 418.2% in the second quarter. AXA S.A. now owns 2,459,895 shares of the specialty retailer’s stock worth $129,809,000 after purchasing an additional 1,985,168 shares during the period. Finally, Soundwatch Capital LLC bought a new position in shares of Tractor Supply during the second quarter worth $81,025,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

Insider Buying and Selling

In related news, CEO Harry A. Lawton III sold 84,670 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $53.16, for a total value of $4,501,057.20. Following the completion of the transaction, the chief executive officer owned 606,842 shares of the company’s stock, valued at approximately $32,259,720.72. This trade represents a 12.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.65% of the company’s stock.

Tractor Supply Stock Down 1.4%

NASDAQ:TSCO opened at $54.48 on Friday. The stock has a 50-day simple moving average of $52.29 and a 200 day simple moving average of $55.62. Tractor Supply Company has a 52-week low of $46.85 and a 52-week high of $63.99. The company has a market cap of $28.79 billion, a PE ratio of 26.32, a PEG ratio of 2.77 and a beta of 0.74. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.16 and a current ratio of 1.34.

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

Analyst Upgrades and Downgrades

TSCO has been the subject of a number of recent analyst reports. Argus lowered their price objective on shares of Tractor Supply from $67.00 to $64.00 and set a “buy” rating for the company in a research report on Monday. Gordon Haskett cut Tractor Supply from an “accumulate” rating to a “hold” rating and decreased their target price for the company from $57.00 to $50.00 in a research note on Thursday, January 8th. Evercore ISI reaffirmed an “outperform” rating and set a $60.00 price target on shares of Tractor Supply in a research report on Friday, January 30th. Robert W. Baird boosted their price objective on Tractor Supply from $65.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, October 24th. Finally, Wells Fargo & Company restated an “overweight” rating and set a $65.00 target price on shares of Tractor Supply in a report on Thursday, October 23rd. Fifteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Tractor Supply has an average rating of “Moderate Buy” and a consensus price target of $59.78.

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.