APG Asset Management N.V. Boosts Stake in Tractor Supply Company $TSCO

APG Asset Management N.V. grew its holdings in Tractor Supply Company (NASDAQ:TSCO) by 505.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,329,556 shares of the specialty retailer’s stock after purchasing an additional 3,614,097 shares during the period. APG Asset Management N.V. owned approximately 0.82% of Tractor Supply worth $246,222,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Buckhead Capital Management LLC raised its position in Tractor Supply by 310.3% in the third quarter. Buckhead Capital Management LLC now owns 36,863 shares of the specialty retailer’s stock valued at $2,096,000 after purchasing an additional 27,878 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Tractor Supply by 6.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 130,035 shares of the specialty retailer’s stock valued at $6,862,000 after buying an additional 7,871 shares during the period. Thrivent Financial for Lutherans lifted its stake in Tractor Supply by 45.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 149,323 shares of the specialty retailer’s stock worth $7,880,000 after acquiring an additional 46,471 shares in the last quarter. First National Bank of Omaha purchased a new position in Tractor Supply during the 3rd quarter valued at about $5,069,000. Finally, Bison Wealth LLC grew its position in Tractor Supply by 356.1% in the 4th quarter. Bison Wealth LLC now owns 6,426 shares of the specialty retailer’s stock valued at $341,000 after acquiring an additional 5,017 shares in the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

Tractor Supply Trading Up 1.3%

NASDAQ:TSCO opened at $51.84 on Friday. Tractor Supply Company has a 1 year low of $46.85 and a 1 year high of $63.99. The stock has a market cap of $27.29 billion, a P/E ratio of 25.04, a P/E/G ratio of 2.60 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. The stock has a 50-day simple moving average of $52.40 and a 200-day simple moving average of $54.98.

Tractor Supply (NASDAQ:TSCO) last posted its earnings results 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). The business had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $4.03 billion. Tractor Supply had a return on equity of 44.36% and a net margin of 7.06%.Tractor Supply’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.44 EPS. As a group, analysts anticipate that Tractor Supply Company will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th will be given a $0.24 dividend. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Tuesday, February 24th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.9%. Tractor Supply’s payout ratio is 46.38%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Truist Financial set a $55.00 price objective on shares of Tractor Supply and gave the company a “hold” rating in a research note on Friday, January 16th. Mizuho reduced their target price on shares of Tractor Supply from $65.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, January 30th. TD Cowen decreased their price target on shares of Tractor Supply from $55.00 to $53.00 and set a “hold” rating for the company in a research report on Friday, January 30th. Piper Sandler cut their price objective on Tractor Supply from $67.00 to $59.00 and set an “overweight” rating on the stock in a research report on Friday, January 30th. Finally, Wolfe Research reiterated an “outperform” rating and issued a $57.00 price objective on shares of Tractor Supply in a research note on Friday, January 30th. Fifteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.78.

Insider Activity

In other Tractor Supply news, CEO Harry A. Lawton III sold 84,670 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $53.16, for a total transaction of $4,501,057.20. Following 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kurt D. Barton sold 1,884 shares of Tractor Supply stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $53.81, for a total value of $101,378.04. Following the sale, the chief financial officer owned 52,562 shares in the company, valued at $2,828,361.22. This trade represents a 3.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 222,348 shares of company stock worth $11,959,621 over the last three months. Company insiders own 0.65% of the company’s stock.

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.