Handelsbanken Fonder AB Boosts Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Handelsbanken Fonder AB grew its stake in shares of Tractor Supply (NASDAQ:TSCO) by 3.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 120,569 shares of the specialty retailer’s stock after buying an additional 3,804 shares during the period. Handelsbanken Fonder AB’s holdings in Tractor Supply were worth $6,643,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Empowered Funds LLC lifted its holdings in shares of Tractor Supply by 342.2% during the 4th quarter. Empowered Funds LLC now owns 61,768 shares of the specialty retailer’s stock valued at $3,277,000 after acquiring an additional 47,799 shares in the last quarter. Savant Capital LLC lifted its holdings in Tractor Supply by 721.9% in the 4th quarter. Savant Capital LLC now owns 13,602 shares of the specialty retailer’s stock worth $722,000 after buying an additional 11,947 shares in the last quarter. Quent Capital LLC lifted its holdings in Tractor Supply by 424.2% in the 4th quarter. Quent Capital LLC now owns 1,646 shares of the specialty retailer’s stock worth $87,000 after buying an additional 1,332 shares in the last quarter. Leavell Investment Management Inc. lifted its holdings in Tractor Supply by 400.0% in the 4th quarter. Leavell Investment Management Inc. now owns 7,800 shares of the specialty retailer’s stock worth $414,000 after buying an additional 6,240 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its holdings in Tractor Supply by 370.5% in the 4th quarter. Louisiana State Employees Retirement System now owns 28,700 shares of the specialty retailer’s stock worth $1,523,000 after buying an additional 22,600 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Tractor Supply Trading Up 0.8%

Shares of NASDAQ:TSCO opened at $51.74 on Friday. The company has a 50 day moving average of $50.53 and a 200-day moving average of $53.39. The firm has a market cap of $27.43 billion, a P/E ratio of 25.36, a P/E/G ratio of 2.95 and a beta of 0.74. Tractor Supply has a twelve month low of $46.85 and a twelve month high of $61.53. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). The company had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.55 billion. Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. The company’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.83 earnings per share. As a group, analysts anticipate that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.78%. The ex-dividend date was Wednesday, May 28th. Tractor Supply’s dividend payout ratio is presently 45.77%.

Tractor Supply announced that its Board of Directors has approved a stock buyback plan on Thursday, February 13th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the specialty retailer to reacquire up to 3.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Guggenheim cut their price objective on shares of Tractor Supply from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Raymond James cut their price objective on shares of Tractor Supply from $61.00 to $57.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. JPMorgan Chase & Co. cut their price objective on shares of Tractor Supply from $59.00 to $56.00 and set a “neutral” rating on the stock in a report on Monday, April 28th. Telsey Advisory Group set a $60.00 price objective on shares of Tractor Supply in a report on Friday, April 25th. Finally, Stephens began coverage on shares of Tractor Supply in a research note on Wednesday, April 9th. They issued an “equal weight” rating and a $56.00 target price on the stock. Two investment 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.02.

Insider Activity at Tractor Supply

In related news, SVP Matthew L. Rubin sold 2,810 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total transaction of $145,445.60. Following the completion of the sale, the senior vice president now directly owns 29,722 shares of the company’s stock, valued at $1,538,410.72. This represents a 8.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.65% of the company’s stock.

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.