Amalgamated Bank Increases Position in Tractor Supply Company (NASDAQ:TSCO)

by · The Markets Daily

Amalgamated Bank lifted its position in Tractor Supply Company (NASDAQ:TSCO – Free Report) by 1.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 122,848 shares of the specialty retailer’s stock after purchasing an additional 1,606 shares during the period. Amalgamated Bank’s holdings in Tractor Supply were worth $6,769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Tractor Supply by 392.5% in the fourth quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer’s stock worth $3,397,643,000 after purchasing an additional 51,031,178 shares in the last quarter. Wellington Management Group LLP grew its stake in Tractor Supply by 401.8% during the fourth quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer’s stock valued at $1,262,258,000 after acquiring an additional 19,048,385 shares in the last quarter. Alliancebernstein L.P. grew its stake in Tractor Supply by 403.3% during the fourth quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer’s stock valued at $1,180,932,000 after acquiring an additional 17,834,643 shares in the last quarter. Capital World Investors grew its stake in Tractor Supply by 403.7% during the fourth quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer’s stock valued at $1,031,122,000 after acquiring an additional 15,575,311 shares in the last quarter. Finally, Capital International Investors grew its stake in Tractor Supply by 334.7% during the fourth quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer’s stock valued at $818,421,000 after acquiring an additional 11,880,010 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Stephens assumed coverage on shares of Tractor Supply in a research note on Wednesday, April 9th. They set an “equal weight” rating and a $56.00 target price for the company. JPMorgan Chase & Co. cut their target price on shares of Tractor Supply from $59.00 to $56.00 and set a “neutral” rating for the company in a research note on Monday, April 28th. Raymond James Financial cut their target price on shares of Tractor Supply from $61.00 to $57.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Robert W. Baird cut their target price on shares of Tractor Supply from $63.00 to $56.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Finally, Telsey Advisory Group set a $60.00 price objective on shares of Tractor Supply in a research report on Friday, April 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Tractor Supply currently has an average rating of “Moderate Buy” and a consensus price target of $58.02.

Read Our Latest Stock Report on Tractor Supply

Insider Activity

In other Tractor Supply news, SVP Matthew L. Rubin sold 2,810 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total value of $145,445.60. Following the completion of the sale, the senior vice president owned 29,722 shares of the company’s stock, valued at $1,538,410.72. This trade represents a 8.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jonathan S. Estep sold 56,630 shares of the firm’s stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $53.00, for a total transaction of $3,001,390.00. Following the transaction, the executive vice president directly owned 74,605 shares in the company, valued at approximately $3,954,065. This trade represents a 43.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.65% of the stock is owned by company insiders.

Tractor Supply Stock Up 2.5%

Shares of NASDAQ TSCO opened at $54.08 on Wednesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.41 and a quick ratio of 0.17. The company has a market cap of $28.67 billion, a P/E ratio of 26.85, a PEG ratio of 2.84 and a beta of 0.75. Tractor Supply Company has a 1 year low of $46.85 and a 1 year high of $61.53. The firm has a 50-day simple moving average of $51.06 and a two-hundred day simple moving average of $52.97.

Tractor Supply (NASDAQ:TSCO – Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.03). The firm had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.55 billion. Tractor Supply had a return on equity of 47.56% and a net margin of 7.24%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.83 EPS. Research analysts anticipate that Tractor Supply Company will post 2.17 earnings per share for the current year.

Tractor Supply Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend was Wednesday, May 28th. Tractor Supply’s payout ratio is currently 45.77%.

Tractor Supply Company Profile

(Free Report)

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.

Further Reading