TimesSquare Capital Management LLC Lowers Stock Holdings in Tractor Supply (NASDAQ:TSCO)

TimesSquare Capital Management LLC decreased its holdings in Tractor Supply (NASDAQ:TSCO) by 6.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 150,416 shares of the specialty retailer’s stock after selling 9,600 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Tractor Supply were worth $39,367,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Tractor Supply by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 12,804,873 shares of the specialty retailer’s stock worth $2,753,432,000 after buying an additional 48,439 shares during the period. Capital International Investors raised its holdings in shares of Tractor Supply by 7.6% in the 4th quarter. Capital International Investors now owns 6,233,852 shares of the specialty retailer’s stock valued at $1,340,589,000 after purchasing an additional 439,954 shares in the last quarter. Capital World Investors lifted its position in shares of Tractor Supply by 10.0% during the 4th quarter. Capital World Investors now owns 5,849,188 shares of the specialty retailer’s stock worth $1,257,751,000 after purchasing an additional 531,170 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Tractor Supply by 63.2% during the fourth quarter. Wellington Management Group LLP now owns 4,606,455 shares of the specialty retailer’s stock worth $990,526,000 after purchasing an additional 1,784,304 shares in the last quarter. Finally, Stifel Financial Corp increased its holdings in Tractor Supply by 0.4% in the fourth quarter. Stifel Financial Corp now owns 1,589,461 shares of the specialty retailer’s stock valued at $341,793,000 after buying an additional 6,879 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Price Performance

TSCO stock traded up $8.25 during trading on Friday, reaching $271.07. 948,644 shares of the company were exchanged, compared to its average volume of 1,172,416. Tractor Supply has a 52-week low of $185.00 and a 52-week high of $290.38. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.19 and a current ratio of 1.40. The company has a market cap of $29.22 billion, a P/E ratio of 26.39, a PEG ratio of 3.42 and a beta of 0.81. The stock’s 50 day moving average price is $274.22 and its 200 day moving average price is $253.79.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 EPS for the quarter, topping the consensus estimate of $1.70 by $0.13. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same quarter in the previous year, the company earned $1.65 EPS. The company’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, analysts predict that Tractor Supply will post 10.34 earnings per share for the current fiscal year.

Tractor Supply Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 28th were issued a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Friday, May 24th. Tractor Supply’s dividend payout ratio (DPR) is presently 42.84%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wedbush reiterated a “neutral” rating and issued a $235.00 price objective on shares of Tractor Supply in a report on Tuesday, April 23rd. Piper Sandler boosted their price objective on shares of Tractor Supply from $265.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. Barclays upped their price objective on shares of Tractor Supply from $234.00 to $240.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Morgan Stanley lifted their target price on Tractor Supply from $195.00 to $235.00 and gave the stock an “underweight” rating in a research report on Friday, April 26th. Finally, Truist Financial upped their target price on Tractor Supply from $277.00 to $289.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $253.96.

Tractor Supply 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.