Sumitomo Mitsui DS Asset Management Company Ltd Increases Position in Tractor Supply (NASDAQ:TSCO)

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Tractor Supply (NASDAQ:TSCO) by 14.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,464 shares of the specialty retailer’s stock after acquiring an additional 1,426 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Tractor Supply were worth $3,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TSCO. Russell Investments Group Ltd. lifted its holdings in shares of Tractor Supply by 8.6% during the fourth quarter. Russell Investments Group Ltd. now owns 43,667 shares of the specialty retailer’s stock worth $9,394,000 after purchasing an additional 3,468 shares during the period. First Trust Direct Indexing L.P. increased its stake in shares of Tractor Supply by 2.9% in the fourth quarter. First Trust Direct Indexing L.P. now owns 2,602 shares of the specialty retailer’s stock worth $560,000 after acquiring an additional 73 shares during the period. First Horizon Advisors Inc. increased its stake in shares of Tractor Supply by 23.2% in the fourth quarter. First Horizon Advisors Inc. now owns 398 shares of the specialty retailer’s stock worth $86,000 after acquiring an additional 75 shares during the period. Natixis Advisors L.P. raised its holdings in shares of Tractor Supply by 9.6% during the fourth quarter. Natixis Advisors L.P. now owns 61,326 shares of the specialty retailer’s stock worth $13,186,000 after purchasing an additional 5,379 shares during the last quarter. Finally, Merit Financial Group LLC lifted its position in Tractor Supply by 68.3% during the fourth quarter. Merit Financial Group LLC now owns 3,787 shares of the specialty retailer’s stock valued at $814,000 after purchasing an additional 1,537 shares during the period. Institutional investors and hedge funds own 98.72% of the company’s stock.

Insider Buying and Selling

In other news, SVP Matthew L. Rubin sold 540 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $262.35, for a total transaction of $141,669.00. Following the completion of the transaction, the senior vice president now directly owns 5,170 shares in the company, valued at approximately $1,356,349.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.24% of the stock is currently owned by company insiders.

Tractor Supply Price Performance

Tractor Supply stock opened at $267.55 on Friday. The company has a fifty day simple moving average of $265.25 and a 200-day simple moving average of $263.33. The firm has a market capitalization of $28.86 billion, a price-to-earnings ratio of 26.05, a PEG ratio of 3.43 and a beta of 0.81. The company has a quick ratio of 0.25, a current ratio of 1.43 and a debt-to-equity ratio of 0.76. Tractor Supply has a 52-week low of $185.00 and a 52-week high of $290.38.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.93. The company had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.28 billion. Tractor Supply had a net margin of 7.65% and a return on equity of 51.84%. Tractor Supply’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.83 EPS. On average, equities analysts anticipate that Tractor Supply will post 10.23 EPS for the current fiscal year.

Tractor Supply Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 26th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Monday, August 26th. This represents a $4.40 annualized dividend and a dividend yield of 1.64%. Tractor Supply’s dividend payout ratio is presently 42.84%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wedbush reaffirmed a “neutral” rating and set a $270.00 price target on shares of Tractor Supply in a research report on Friday, July 26th. Truist Financial lifted their price target on Tractor Supply from $289.00 to $293.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Telsey Advisory Group restated an “outperform” rating and issued a $305.00 price objective on shares of Tractor Supply in a research report on Thursday, July 25th. Benchmark reaffirmed a “buy” rating and set a $280.00 target price on shares of Tractor Supply in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Tractor Supply from $241.00 to $263.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $256.58.

Tractor Supply Company Profile

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.