Compass Wealth Management LLC Buys New Stake in Tractor Supply Company $TSCO

Compass Wealth Management LLC purchased a new position in shares of Tractor Supply Company (NASDAQ:TSCO) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 25,351 shares of the specialty retailer’s stock, valued at approximately $1,442,000.

Several other hedge funds also recently added to or reduced their stakes in TSCO. Vanguard Group Inc. boosted its position in shares of Tractor Supply by 1.6% in the second quarter. Vanguard Group Inc. now owns 67,679,109 shares of the specialty retailer’s stock worth $3,571,427,000 after buying an additional 1,047,687 shares during the period. State Street Corp lifted its position in Tractor Supply by 0.7% during the 2nd quarter. State Street Corp now owns 23,002,120 shares of the specialty retailer’s stock worth $1,213,822,000 after acquiring an additional 150,392 shares in the last quarter. Geode Capital Management LLC lifted its position in Tractor Supply by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 15,367,775 shares of the specialty retailer’s stock worth $808,341,000 after acquiring an additional 316,595 shares in the last quarter. Invesco Ltd. boosted its holdings in Tractor Supply by 123.4% in the 2nd quarter. Invesco Ltd. now owns 15,079,313 shares of the specialty retailer’s stock worth $795,735,000 after acquiring an additional 8,329,462 shares during the period. Finally, Select Equity Group L.P. grew its position 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 acquiring an additional 3,753,414 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Tractor Supply Stock Performance

Shares of TSCO stock opened at $51.96 on Friday. The stock has a market capitalization of $27.46 billion, a price-to-earnings ratio of 25.10, a PEG ratio of 2.63 and a beta of 0.74. Tractor Supply Company has a one year low of $46.85 and a one year high of $63.99. The company’s 50-day simple moving average is $52.39 and its 200-day simple moving average is $55.31. 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 announced its quarterly earnings data on Thursday, January 29th. The specialty retailer reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.03). Tractor Supply had a net margin of 7.06% and a return on equity of 44.36%. The firm had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $4.03 billion. During the same period in the prior year, the firm earned $0.44 earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. Equities analysts anticipate that Tractor Supply Company will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, February 24th. This represents a $0.96 annualized dividend and a dividend yield of 1.8%. This is an increase from Tractor Supply’s previous quarterly dividend of $0.23. Tractor Supply’s dividend payout ratio is currently 44.44%.

Insider Activity

In other news, EVP Jonathan S. Estep sold 59,745 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $54.03, for a total value of $3,228,022.35. Following the transaction, the executive vice president directly owned 80,931 shares in the company, valued at approximately $4,372,701.93. This trade represents a 42.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kurt D. Barton sold 1,929 shares of Tractor Supply stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $53.94, for a total transaction 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 $2,413,059.84. This trade represents a 4.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 222,348 shares of company stock valued at $11,959,621 over the last three months. 0.65% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TSCO has been the topic of a number of recent research reports. Wolfe Research reissued an “outperform” rating and set a $57.00 target price on shares of Tractor Supply in a research report on Friday, January 30th. Gordon Haskett downgraded shares of Tractor Supply from an “accumulate” rating to a “hold” rating and dropped their price target for the stock from $57.00 to $50.00 in a research note on Thursday, January 8th. Piper Sandler cut their price objective on shares of Tractor Supply from $67.00 to $59.00 and set an “overweight” rating on the stock in a report on Friday, January 30th. Robert W. Baird raised their target price on Tractor Supply from $65.00 to $67.00 and gave the company an “outperform” rating in a research note on Friday, October 24th. Finally, Citigroup reaffirmed a “buy” rating and set a $61.00 target price (down from $66.00) on shares of Tractor Supply in a research report on Friday, January 16th. Fifteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.78.

About Tractor Supply

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.