Westview Management dba Westview Investment Advisors Acquires Shares of 59,445 Tractor Supply Company $TSCO

Westview Management dba Westview Investment Advisors acquired a new stake in shares of Tractor Supply Company (NASDAQ:TSCO) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 59,445 shares of the specialty retailer’s stock, valued at approximately $2,973,000.

Several other hedge funds have also recently modified their holdings of TSCO. Invesco Ltd. grew its stake in Tractor Supply by 123.4% during the second 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 in the last quarter. Norges Bank bought a new stake in Tractor Supply in the 2nd quarter valued at $274,959,000. Victory Capital Management Inc. lifted its stake in Tractor Supply by 719.1% in the 3rd quarter. Victory Capital Management Inc. now owns 4,508,661 shares of the specialty retailer’s stock worth $256,408,000 after purchasing an additional 3,958,205 shares in the last quarter. Select Equity Group L.P. lifted its stake in Tractor Supply by 41.9% in the 2nd quarter. Select Equity Group L.P. now owns 12,713,409 shares of the specialty retailer’s stock worth $670,887,000 after purchasing an additional 3,753,414 shares in the last quarter. Finally, APG Asset Management N.V. boosted its holdings in shares of Tractor Supply by 505.1% during the 3rd quarter. APG Asset Management N.V. now owns 4,329,556 shares of the specialty retailer’s stock valued at $246,222,000 after purchasing an additional 3,614,097 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Trading Down 0.9%

TSCO opened at $45.77 on Monday. The stock has a 50-day moving average of $51.86 and a 200 day moving average of $53.64. The company has a current ratio of 1.34, a quick ratio of 0.16 and a debt-to-equity ratio of 0.70. Tractor Supply Company has a 12 month low of $45.45 and a 12 month high of $63.99. The firm has a market cap of $24.09 billion, a P/E ratio of 22.11, a P/E/G ratio of 2.29 and a beta of 0.72.

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

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.1%. The ex-dividend date was Tuesday, February 24th. This is a boost from Tractor Supply’s previous quarterly dividend of $0.23. Tractor Supply’s payout ratio is currently 46.38%.

Insider Buying and Selling

In other Tractor Supply news, CEO Harry A. Lawton III sold 84,670 shares of Tractor Supply stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $53.16, for a total transaction of $4,501,057.20. Following the completion of the transaction, the chief executive officer directly owned 606,842 shares of the company’s stock, valued at $32,259,720.72. The trade was a 12.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert D. Mills sold 62,950 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $54.12, for a total transaction of $3,406,854.00. Following the transaction, the executive vice president owned 122,834 shares in the company, valued at $6,647,776.08. This trade represents a 33.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 222,348 shares of company stock valued at $11,959,621 over the last 90 days. 0.65% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Piper Sandler cut their price objective on Tractor Supply from $67.00 to $59.00 and set an “overweight” rating for the company in a research report on Friday, January 30th. Morgan Stanley dropped their price target on Tractor Supply from $60.00 to $57.00 and set an “equal weight” rating for the company in a research note on Friday, January 30th. Argus cut their price target on Tractor Supply from $67.00 to $64.00 and set a “buy” rating for the company in a report on Monday, February 2nd. Telsey Advisory Group reduced their price objective on Tractor Supply from $70.00 to $63.00 and set an “outperform” rating on the stock in a research note on Thursday, January 29th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Tractor Supply in a report on Monday, December 29th. Fifteen investment 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, the stock presently has a consensus rating of “Moderate Buy” and an average 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.