Tractor Supply Company $TSCO Shares Acquired by Montrusco Bolton Investments Inc.

Montrusco Bolton Investments Inc. increased its stake in shares of Tractor Supply Company (NASDAQ:TSCO) by 7.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,000,530 shares of the specialty retailer’s stock after purchasing an additional 69,498 shares during the period. Tractor Supply accounts for approximately 0.7% of Montrusco Bolton Investments Inc.’s investment portfolio, making the stock its 28th biggest position. Montrusco Bolton Investments Inc. owned approximately 0.19% of Tractor Supply worth $56,900,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Delos Wealth Advisors LLC purchased a new stake in shares of Tractor Supply during the second quarter worth approximately $26,000. Financial Gravity Companies Inc. acquired a new stake in Tractor Supply during the 2nd quarter worth $38,000. Clayton Financial Group LLC purchased a new stake in shares of Tractor Supply during the third quarter worth $44,000. First Horizon Corp acquired a new stake in shares of Tractor Supply in the third quarter valued at about $44,000. Finally, Evelyn Partners Asset Management Ltd purchased a new position in shares of Tractor Supply in the second quarter worth about $46,000. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Jonathan S. Estep sold 59,745 shares of Tractor Supply stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $54.03, for a total value of $3,228,022.35. Following the completion of the transaction, the executive vice president owned 80,931 shares in the company, valued at approximately $4,372,701.93. The trade was a 42.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Robert D. Mills sold 62,950 shares of the stock in a transaction that occurred 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 sale, the executive vice president owned 122,834 shares in the company, valued at approximately $6,647,776.08. This trade represents a 33.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 222,348 shares of company stock valued at $11,959,621. 0.65% of the stock is owned by company insiders.

Analyst Ratings Changes

TSCO has been the subject of a number of recent research reports. Gordon Haskett downgraded shares of Tractor Supply from an “accumulate” rating to a “hold” rating and cut their price objective for the company from $57.00 to $50.00 in a report on Thursday, January 8th. Stephens set a $53.00 price objective on Tractor Supply and gave the stock an “equal weight” rating in a research report on Thursday, January 22nd. Truist Financial set a $55.00 target price on Tractor Supply and gave the stock a “hold” rating in a research note on Friday, January 16th. Zacks Research lowered Tractor Supply from a “hold” rating to a “strong sell” rating in a report on Monday, February 2nd. Finally, Evercore restated an “outperform” rating and set a $60.00 price objective on shares of Tractor Supply in a research report on Friday, January 30th. Fifteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.78.

Tractor Supply Price Performance

Shares of TSCO opened at $51.77 on Thursday. The firm has a 50-day simple moving average of $52.41 and a two-hundred day simple moving average of $55.09. The stock has a market cap of $27.25 billion, a PE ratio of 25.01, a P/E/G ratio of 2.67 and a beta of 0.74. Tractor Supply Company has a 1-year low of $46.85 and a 1-year high of $63.99. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.34 and a quick ratio of 0.16.

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). Tractor Supply had a net margin of 7.06% and a return on equity of 44.36%. The company had revenue of $3.90 billion during the quarter, compared to analyst estimates of $4.03 billion. During the same quarter last year, the business posted $0.44 EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, analysts forecast that Tractor Supply Company will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

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

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.