Mitsubishi UFJ Asset Management Co. Ltd. Buys 57,961 Shares of Tractor Supply Company $TSCO

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Tractor Supply Company (NASDAQ:TSCO) by 5.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,057,385 shares of the specialty retailer’s stock after purchasing an additional 57,961 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Tractor Supply were worth $60,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TSCO. Vanguard Group Inc. lifted its position in shares of Tractor Supply by 1.6% during the second quarter. Vanguard Group Inc. now owns 67,679,109 shares of the specialty retailer’s stock valued at $3,571,427,000 after buying an additional 1,047,687 shares during the last quarter. State Street Corp raised its stake in shares of Tractor Supply by 0.7% during the 2nd quarter. State Street Corp now owns 23,002,120 shares of the specialty retailer’s stock worth $1,213,822,000 after acquiring an additional 150,392 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Tractor Supply by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 15,367,775 shares of the specialty retailer’s stock worth $808,341,000 after acquiring an additional 316,595 shares in the last quarter. Invesco Ltd. lifted its position in Tractor Supply by 123.4% during the second quarter. Invesco Ltd. now owns 15,079,313 shares of the specialty retailer’s stock valued at $795,735,000 after acquiring an additional 8,329,462 shares during the last quarter. Finally, Select Equity Group L.P. boosted its stake in Tractor Supply by 41.9% in the second quarter. Select Equity Group L.P. now owns 12,713,409 shares of the specialty retailer’s stock valued at $670,887,000 after acquiring an additional 3,753,414 shares in the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Tractor Supply Trading Up 1.3%

Shares of NASDAQ:TSCO opened at $51.84 on Friday. Tractor Supply Company has a 52-week low of $46.85 and a 52-week high of $63.99. The stock has a market cap of $27.29 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 2.56 and a beta of 0.74. The company has a quick ratio of 0.16, a current ratio of 1.34 and a debt-to-equity ratio of 0.70. The business has a 50-day moving average price of $52.40 and a 200-day moving average price of $55.01.

Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Thursday, January 29th. The specialty retailer reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.03). Tractor Supply had a net margin of 7.06% and a return on equity of 44.36%. The firm had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter in the prior year, the company earned $0.44 EPS. Tractor Supply’s quarterly revenue was up 3.3% on a year-over-year basis. Equities analysts predict that Tractor Supply Company will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th will be paid a $0.24 dividend. The ex-dividend date is Tuesday, February 24th. This is an increase from Tractor Supply’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.9%. Tractor Supply’s dividend payout ratio (DPR) is currently 46.38%.

Insider Activity

In related news, EVP Robert D. Mills sold 62,950 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $54.12, for a total transaction of $3,406,854.00. Following the completion of the transaction, the executive vice president directly owned 122,834 shares in the company, valued at $6,647,776.08. The trade was a 33.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Colin Yankee sold 11,170 shares of the stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $55.35, for a total value of $618,259.50. Following the sale, the executive vice president directly owned 45,515 shares in the company, valued at $2,519,255.25. This represents a 19.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 222,348 shares of company stock valued at $11,959,621 over the last quarter. Insiders own 0.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TSCO. The Goldman Sachs Group set a $59.00 price target on Tractor Supply and gave the stock a “buy” rating in a research report on Friday, January 30th. Citigroup reaffirmed a “buy” rating and set a $61.00 target price (down from $66.00) on shares of Tractor Supply in a research report on Friday, January 16th. JPMorgan Chase & Co. decreased their price target on Tractor Supply from $62.00 to $59.00 and set a “neutral” rating for the company in a research note on Friday, January 30th. Stephens set a $53.00 price target on Tractor Supply and gave the stock an “equal weight” rating in a research note on Thursday, January 22nd. Finally, DA Davidson restated a “buy” rating and set a $60.00 price objective on shares of Tractor Supply in a report on Friday, January 30th. Fifteen 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $59.78.

Tractor Supply Profile

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.