Ontario Teachers Pension Plan Board Buys New Holdings in Tractor Supply Company $TSCO

Ontario Teachers Pension Plan Board purchased a new position in Tractor Supply Company (NASDAQ:TSCO) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 27,972 shares of the specialty retailer’s stock, valued at approximately $1,591,000.

Other institutional investors have also added to or reduced their stakes in the company. Delos Wealth Advisors LLC bought a new position in shares of Tractor Supply during the second quarter worth $26,000. Financial Gravity Companies Inc. purchased a new stake in Tractor Supply in the 2nd quarter worth $38,000. Clayton Financial Group LLC purchased a new stake in Tractor Supply in the 3rd quarter worth $44,000. First Horizon Corp bought a new position in shares of Tractor Supply during the 3rd quarter valued at about $44,000. Finally, Evelyn Partners Asset Management Ltd purchased a new position in shares of Tractor Supply during the second quarter valued at about $46,000. 98.72% of the stock is owned by hedge funds and other institutional investors.

Tractor Supply Stock Performance

Shares of Tractor Supply stock opened at $52.54 on Thursday. The company has a current ratio of 1.34, a quick ratio of 0.16 and a debt-to-equity ratio of 0.70. The stock’s fifty day moving average price is $52.39 and its 200-day moving average price is $55.33. The firm has a market cap of $27.76 billion, a P/E ratio of 25.38, a P/E/G ratio of 2.64 and a beta of 0.74. Tractor Supply Company has a 12 month low of $46.85 and a 12 month high of $63.99.

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

Tractor Supply Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TSCO. The Goldman Sachs Group set a $59.00 target price on Tractor Supply and gave the stock a “buy” rating in a research report on Friday, January 30th. Gordon Haskett downgraded shares of Tractor Supply from an “accumulate” rating to a “hold” rating and reduced their target price for the stock from $57.00 to $50.00 in a report on Thursday, January 8th. Wells Fargo & Company restated an “overweight” rating and set a $65.00 price objective on shares of Tractor Supply in a research report on Thursday, October 23rd. Telsey Advisory Group cut their price objective on shares of Tractor Supply from $70.00 to $63.00 and set an “outperform” rating on the stock in a research report on Thursday, January 29th. Finally, TD Cowen reduced their price objective on shares of Tractor Supply from $55.00 to $53.00 and set a “hold” rating on the stock in a research 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $59.78.

Insider Transactions at Tractor Supply

In other news, EVP Robert D. Mills sold 62,950 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $54.12, for a total transaction 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. This represents a 33.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jonathan S. Estep sold 59,745 shares of the business’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $54.03, for a total value of $3,228,022.35. Following the transaction, the executive vice president owned 80,931 shares in the company, valued at approximately $4,372,701.93. This trade represents a 42.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 222,348 shares of company stock worth $11,959,621. 0.65% of the stock is owned by corporate insiders.

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.