Covea Finance Has $13.68 Million Stock Holdings in Tractor Supply Company $TSCO

Covea Finance lifted its position in Tractor Supply Company (NASDAQ:TSCO) by 48.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 273,580 shares of the specialty retailer’s stock after purchasing an additional 89,093 shares during the quarter. Covea Finance’s holdings in Tractor Supply were worth $13,682,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Tractor Supply by 1.6% in 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 in the last quarter. Wellington Management Group LLP increased its holdings in shares of Tractor Supply by 1.6% during the third quarter. Wellington Management Group LLP now owns 25,931,699 shares of the specialty retailer’s stock worth $1,474,736,000 after buying an additional 420,731 shares in the last quarter. State Street Corp raised its stake in shares of Tractor Supply by 0.7% in the second quarter. State Street Corp now owns 23,002,120 shares of the specialty retailer’s stock valued at $1,213,822,000 after acquiring an additional 150,392 shares during the last quarter. Invesco Ltd. raised its stake in shares of Tractor Supply by 123.4% in 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 holdings in shares of Tractor Supply by 41.9% in the 2nd quarter. Select Equity Group L.P. now owns 12,713,409 shares of the specialty retailer’s stock worth $670,887,000 after acquiring an additional 3,753,414 shares in the last quarter. 98.72% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Jonathan S. Estep sold 59,745 shares of the company’s stock in a transaction 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 owned 80,931 shares in the company, valued at $4,372,701.93. This represents a 42.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert D. Mills sold 62,950 shares of the firm’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $54.12, for a total value of $3,406,854.00. Following the sale, 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 position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 222,348 shares of company stock valued at $11,959,621. 0.65% of the stock is owned by company insiders.

Analysts Set New Price Targets

TSCO has been the subject of a number of recent analyst reports. Telsey Advisory Group dropped their price target on Tractor Supply from $70.00 to $63.00 and set an “outperform” rating for the company in a report on Thursday, January 29th. The Goldman Sachs Group set a $59.00 target price on Tractor Supply and gave the stock a “buy” rating in a report on Friday, January 30th. UBS Group set a $55.00 price target on Tractor Supply in a report on Friday, January 30th. Morgan Stanley reduced their price target on shares of Tractor Supply from $60.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Friday, January 30th. Finally, Evercore restated an “outperform” rating and issued a $60.00 price objective on shares of Tractor Supply in a research report on Friday, January 30th. Fifteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $59.78.

Tractor Supply Price Performance

Tractor Supply stock opened at $45.77 on Friday. The company has a current ratio of 1.34, a quick ratio of 0.16 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $24.09 billion, a P/E ratio of 22.11, a PEG ratio of 2.31 and a beta of 0.72. The business has a 50-day moving average of $51.86 and a 200-day moving average of $53.74. Tractor Supply Company has a 1 year low of $45.45 and a 1 year high of $63.99.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, January 29th. The specialty retailer reported $0.43 earnings per share 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 analyst estimates of $4.03 billion. During the same quarter in the prior year, the business earned $0.44 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. On average, equities analysts anticipate that Tractor Supply Company will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.1%. This is a boost from Tractor Supply’s previous quarterly dividend of $0.23. The ex-dividend date was Tuesday, February 24th. Tractor Supply’s dividend payout ratio (DPR) is 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.