Wellington Management Group LLP Raises Stock Holdings in Tractor Supply Company $TSCO

Wellington Management Group LLP grew its position in Tractor Supply Company (NASDAQ:TSCO) by 1.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 25,931,699 shares of the specialty retailer’s stock after acquiring an additional 420,731 shares during the quarter. Wellington Management Group LLP’s holdings in Tractor Supply were worth $1,474,736,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Delos Wealth Advisors LLC acquired a new position in shares of Tractor Supply in the 2nd quarter valued at $26,000. Financial Gravity Companies Inc. acquired a new stake in Tractor Supply during the 2nd quarter worth $38,000. Clayton Financial Group LLC purchased a new position in Tractor Supply during the 3rd quarter worth $44,000. First Horizon Corp purchased a new position in Tractor Supply during the 3rd quarter worth $44,000. Finally, Evelyn Partners Asset Management Ltd purchased a new position in Tractor Supply during the 2nd quarter worth $46,000. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TSCO. Zacks Research cut shares of Tractor Supply from a “hold” rating to a “strong sell” rating in a report on Monday, February 2nd. Stephens set a $53.00 price target on Tractor Supply and gave the stock an “equal weight” rating in a report on Thursday, January 22nd. Piper Sandler dropped their price target on Tractor Supply from $67.00 to $59.00 and set an “overweight” rating on the stock in a research report on Friday, January 30th. Wall Street Zen downgraded Tractor Supply from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. Finally, Truist Financial set a $55.00 price objective on Tractor Supply and gave the stock a “hold” rating in a research report on Friday, January 16th. Fifteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $59.78.

Insider Activity at Tractor Supply

In other news, EVP Robert D. Mills sold 62,950 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was 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 of the company’s stock, valued at approximately $6,647,776.08. This represents a 33.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Jonathan S. Estep sold 59,745 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $54.03, for a total value of $3,228,022.35. Following the completion of the sale, the executive vice president directly owned 80,931 shares of the company’s stock, valued at $4,372,701.93. This represents a 42.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 222,348 shares of company stock worth $11,959,621 in the last three months. 0.65% of the stock is currently owned by corporate insiders.

Tractor Supply Stock Down 1.8%

Shares of Tractor Supply stock opened at $47.24 on Friday. Tractor Supply Company has a one year low of $46.85 and a one year high of $63.99. The company has a market cap of $24.86 billion, a P/E ratio of 22.82, a PEG ratio of 2.41 and a beta of 0.72. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.16 and a current ratio of 1.34. The firm has a fifty day moving average of $52.23 and a two-hundred day moving average of $54.27.

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

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.0%. The ex-dividend date was Tuesday, February 24th. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.23. Tractor Supply’s payout ratio is presently 46.38%.

About Tractor Supply

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.