Nordea Investment Management AB Acquires 2,879 Shares of Tractor Supply Company $TSCO

Nordea Investment Management AB raised its holdings in Tractor Supply Company (NASDAQ:TSCO) by 6.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,122 shares of the specialty retailer’s stock after buying an additional 2,879 shares during the period. Nordea Investment Management AB’s holdings in Tractor Supply were worth $2,566,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TSCO. Bison Wealth LLC lifted its holdings in Tractor Supply by 356.1% during the 4th quarter. Bison Wealth LLC now owns 6,426 shares of the specialty retailer’s stock valued at $341,000 after purchasing an additional 5,017 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Tractor Supply by 11.0% in the first quarter. GAMMA Investing LLC now owns 15,205 shares of the specialty retailer’s stock valued at $838,000 after purchasing an additional 1,503 shares during the period. Blue Trust Inc. lifted its stake in shares of Tractor Supply by 27.1% during the 1st quarter. Blue Trust Inc. now owns 2,653 shares of the specialty retailer’s stock worth $146,000 after buying an additional 566 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in Tractor Supply by 13.5% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 19,907 shares of the specialty retailer’s stock valued at $1,097,000 after buying an additional 2,361 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in Tractor Supply by 7.5% in the 1st quarter. Asset Management One Co. Ltd. now owns 220,704 shares of the specialty retailer’s stock valued at $12,161,000 after acquiring an additional 15,380 shares during the period. 98.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. UBS Group upped their target price on Tractor Supply from $54.00 to $61.00 and gave the company a “neutral” rating in a research report on Friday, July 25th. Truist Financial lifted their target price on Tractor Supply from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Bank of America upgraded shares of Tractor Supply from an “underperform” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Thursday, July 24th. JPMorgan Chase & Co. raised their price target on shares of Tractor Supply from $56.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Finally, Citigroup raised shares of Tractor Supply from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $60.00 to $62.00 in a report on Thursday, October 9th. Fifteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $62.45.

Tractor Supply Trading Up 0.1%

Shares of Tractor Supply stock opened at $54.83 on Thursday. The company has a quick ratio of 0.16, a current ratio of 1.28 and a debt-to-equity ratio of 0.68. Tractor Supply Company has a 12-month low of $46.85 and a 12-month high of $63.99. The company has a market capitalization of $29.06 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 2.81 and a beta of 0.73. The firm’s 50-day moving average price is $58.36 and its two-hundred day moving average price is $54.96.

Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Thursday, July 24th. The specialty retailer reported $0.81 EPS for the quarter, beating the consensus estimate of $0.80 by $0.01. The company had revenue of $4.44 billion during the quarter, compared to analysts’ expectations of $4.40 billion. Tractor Supply had a net margin of 7.18% and a return on equity of 46.83%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company earned $3.93 EPS. On average, analysts forecast that Tractor Supply Company will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Monday, August 25th were paid a dividend of $0.23 per share. The ex-dividend date was Monday, August 25th. This represents a $0.92 annualized dividend and a yield of 1.7%. Tractor Supply’s dividend payout ratio is presently 45.10%.

Insider Buying and Selling at Tractor Supply

In other news, EVP Colin Yankee sold 6,680 shares of Tractor Supply stock in a transaction on Monday, July 28th. The stock was sold at an average price of $58.40, for a total value of $390,112.00. Following the transaction, the executive vice president owned 40,142 shares in the company, valued at approximately $2,344,292.80. This trade represents a 14.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.65% of the company’s stock.

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.