Maxi Investments CY Ltd Grows Stock Position in Tractor Supply Company $TSCO

Maxi Investments CY Ltd boosted its holdings in Tractor Supply Company (NASDAQ:TSCO) by 45.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 55,300 shares of the specialty retailer’s stock after acquiring an additional 17,300 shares during the period. Maxi Investments CY Ltd’s holdings in Tractor Supply were worth $3,145,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TSCO. Financial Network Wealth Advisors LLC raised its position in Tractor Supply by 8.0% in the third quarter. Financial Network Wealth Advisors LLC now owns 2,465 shares of the specialty retailer’s stock valued at $140,000 after purchasing an additional 182 shares during the period. Perigon Wealth Management LLC grew its holdings in shares of Tractor Supply by 0.6% during the 3rd quarter. Perigon Wealth Management LLC now owns 34,036 shares of the specialty retailer’s stock worth $1,936,000 after purchasing an additional 200 shares during the period. Colonial Trust Advisors increased its position in shares of Tractor Supply by 1.3% during the 2nd quarter. Colonial Trust Advisors now owns 16,489 shares of the specialty retailer’s stock worth $870,000 after purchasing an additional 214 shares during the last quarter. Vestmark Advisory Solutions Inc. increased its position in shares of Tractor Supply by 5.1% during the 3rd quarter. Vestmark Advisory Solutions Inc. now owns 4,514 shares of the specialty retailer’s stock worth $257,000 after purchasing an additional 218 shares during the last quarter. Finally, Johnson Investment Counsel Inc. raised its holdings in Tractor Supply by 1.7% in the 3rd quarter. Johnson Investment Counsel Inc. now owns 12,771 shares of the specialty retailer’s stock valued at $726,000 after buying an additional 219 shares during the period. Institutional investors and hedge funds own 98.72% of the company’s stock.

Tractor Supply Stock Performance

NASDAQ TSCO opened at $48.78 on Tuesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.34 and a quick ratio of 0.16. The company has a market cap of $25.68 billion, a P/E ratio of 23.57, a P/E/G ratio of 2.37 and a beta of 0.72. The stock has a 50-day moving average of $52.21 and a two-hundred day moving average of $54.06. Tractor Supply Company has a 1-year low of $46.85 and a 1-year high of $63.99.

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

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th were issued a dividend of $0.24 per share. This is a boost from Tractor Supply’s previous quarterly dividend of $0.23. The ex-dividend date was Tuesday, February 24th. This represents a $0.96 dividend on an annualized basis and a yield of 2.0%. Tractor Supply’s dividend payout ratio (DPR) is currently 46.38%.

Insider Buying and Selling

In other news, CFO Kurt D. Barton sold 1,929 shares of the company’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $53.94, for a total transaction of $104,050.26. Following the sale, the chief financial officer owned 44,736 shares of the company’s stock, valued at approximately $2,413,059.84. This represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert D. Mills sold 62,950 shares of the stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $54.12, for a total value of $3,406,854.00. Following the completion of the sale, the executive vice president owned 122,834 shares in the company, valued at approximately $6,647,776.08. The trade was a 33.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 222,348 shares of company stock worth $11,959,621 over the last three months. 0.65% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TSCO has been the topic of a number of recent analyst reports. Truist Financial set a $55.00 target price on shares of Tractor Supply and gave the company a “hold” rating in a research report on Friday, January 16th. TD Cowen reduced their price target on shares of Tractor Supply from $55.00 to $53.00 and set a “hold” rating on the stock in a research note on Friday, January 30th. Wolfe Research restated an “outperform” rating and issued a $57.00 price objective on shares of Tractor Supply in a report on Friday, January 30th. Wall Street Zen cut shares of Tractor Supply from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Finally, Evercore reiterated an “outperform” rating and issued a $60.00 target price on shares of Tractor Supply in a report on Friday, January 30th. 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 stock. According to MarketBeat, Tractor Supply has an average rating of “Moderate Buy” and a consensus price target 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.