Nordea Investment Management AB Buys 2,879 Shares of Tractor Supply Company $TSCO

Nordea Investment Management AB lifted its stake in shares of Tractor Supply Company (NASDAQ:TSCO) by 6.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,122 shares of the specialty retailer’s stock after purchasing an additional 2,879 shares during the period. Nordea Investment Management AB’s holdings in Tractor Supply were worth $2,566,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Wellington Management Group LLP lifted its stake in shares of Tractor Supply by 16.0% during the first quarter. Wellington Management Group LLP now owns 27,604,769 shares of the specialty retailer’s stock valued at $1,521,023,000 after acquiring an additional 3,815,520 shares during the period. Vanguard Group Inc. lifted its holdings in Tractor Supply by 4.1% in the first quarter. Vanguard Group Inc. now owns 66,631,422 shares of the specialty retailer’s stock valued at $3,671,391,000 after buying an additional 2,597,450 shares during the period. Alliancebernstein L.P. boosted its stake in Tractor Supply by 10.8% in the first quarter. Alliancebernstein L.P. now owns 24,664,907 shares of the specialty retailer’s stock valued at $1,359,036,000 after acquiring an additional 2,408,373 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Tractor Supply by 14.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,927,641 shares of the specialty retailer’s stock worth $657,214,000 after acquiring an additional 1,510,489 shares during the period. Finally, Select Equity Group L.P. raised its position in shares of Tractor Supply by 16.8% during the 1st quarter. Select Equity Group L.P. now owns 8,959,995 shares of the specialty retailer’s stock valued at $493,696,000 after acquiring an additional 1,290,771 shares during the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TSCO. Telsey Advisory Group reaffirmed an “outperform” rating and set a $70.00 price objective on shares of Tractor Supply in a research note on Friday, October 17th. Piper Sandler boosted their target price on Tractor Supply from $66.00 to $67.00 and gave the stock an “overweight” rating in a research report on Friday, July 25th. Evercore ISI lowered their price target on Tractor Supply from $65.00 to $60.00 and set an “in-line” rating for the company in a research note on Tuesday, October 7th. Truist Financial boosted their price objective on shares of Tractor Supply from $60.00 to $66.00 and gave the company a “buy” rating in a report on Friday, July 25th. Finally, Loop Capital increased their target price on shares of Tractor Supply from $48.00 to $60.00 and gave the stock a “hold” rating in a report on Friday, July 25th. Fifteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, Tractor Supply currently has an average rating of “Moderate Buy” and an average price target of $62.45.

Tractor Supply Trading Up 0.1%

NASDAQ TSCO opened at $54.83 on Thursday. Tractor Supply Company has a 52 week low of $46.85 and a 52 week high of $63.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 1.28. The stock’s 50 day moving average price is $58.36 and its two-hundred day moving average price is $54.96. The stock has a market capitalization of $29.06 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 2.81 and a beta of 0.73.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Thursday, July 24th. The specialty retailer reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.01. The company had revenue of $4.44 billion during the quarter, compared to analysts’ expectations of $4.40 billion. Tractor Supply had a net margin of 7.18% and a return on equity of 46.83%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the business earned $3.93 EPS. As a group, analysts anticipate that Tractor Supply Company will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Monday, August 25th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.7%. The ex-dividend date was Monday, August 25th. Tractor Supply’s dividend payout ratio is presently 45.10%.

Insider Buying and Selling

In other Tractor Supply news, EVP Colin Yankee sold 6,680 shares of the business’s stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $58.40, for a total transaction of $390,112.00. Following the transaction, the executive vice president owned 40,142 shares of the company’s stock, valued at $2,344,292.80. The trade was a 14.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.65% of the company’s stock.

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.