TimesSquare Capital Management LLC Raises Stake in Tractor Supply (NASDAQ:TSCO)

TimesSquare Capital Management LLC raised its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 48.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 247,806 shares of the specialty retailer’s stock after acquiring an additional 81,341 shares during the period. Tractor Supply comprises approximately 1.1% of TimesSquare Capital Management LLC’s portfolio, making the stock its 28th biggest holding. TimesSquare Capital Management LLC’s holdings in Tractor Supply were worth $72,094,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Tractor Supply by 3.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 5,980 shares of the specialty retailer’s stock valued at $1,565,000 after purchasing an additional 188 shares during the last quarter. PFG Advisors grew its stake in shares of Tractor Supply by 10.2% during the first quarter. PFG Advisors now owns 1,898 shares of the specialty retailer’s stock valued at $497,000 after buying an additional 175 shares during the last quarter. TCI Wealth Advisors Inc. purchased a new position in shares of Tractor Supply in the first quarter worth about $219,000. Choate Investment Advisors bought a new stake in shares of Tractor Supply in the 1st quarter valued at about $247,000. Finally, NorthRock Partners LLC purchased a new stake in Tractor Supply during the 1st quarter valued at about $251,000. 98.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on TSCO. Piper Sandler lifted their price target on Tractor Supply from $300.00 to $332.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Melius Research began coverage on shares of Tractor Supply in a research note on Monday, September 23rd. They issued a “buy” rating and a $315.00 target price on the stock. Gordon Haskett lowered shares of Tractor Supply from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, October 24th. Loop Capital upped their price objective on shares of Tractor Supply from $250.00 to $260.00 and gave the company a “hold” rating in a research note on Friday, September 6th. Finally, Raymond James raised their target price on Tractor Supply from $285.00 to $290.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $282.82.

Insider Activity at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 540 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $262.35, for a total value of $141,669.00. Following the sale, the senior vice president now owns 5,170 shares in the company, valued at approximately $1,356,349.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Tractor Supply news, SVP Matthew L. Rubin sold 540 shares of Tractor Supply stock in a transaction on Monday, August 12th. The stock was sold at an average price of $262.35, for a total transaction of $141,669.00. Following the completion of the transaction, the senior vice president now owns 5,170 shares in the company, valued at approximately $1,356,349.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kurt D. Barton sold 23,532 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total value of $6,957,000.48. Following the completion of the sale, the chief financial officer now directly owns 9,683 shares in the company, valued at approximately $2,862,682.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.

Tractor Supply Price Performance

TSCO opened at $288.56 on Friday. The company has a current ratio of 1.48, a quick ratio of 0.17 and a debt-to-equity ratio of 0.81. The company has a market cap of $31.13 billion, a price-to-earnings ratio of 28.07, a price-to-earnings-growth ratio of 3.62 and a beta of 0.82. The stock has a fifty day simple moving average of $283.49 and a two-hundred day simple moving average of $275.01. Tractor Supply has a 12-month low of $193.60 and a 12-month high of $307.64.

Tractor Supply Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be paid a $1.10 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $4.40 annualized dividend and a dividend yield of 1.52%. Tractor Supply’s payout ratio is 42.80%.

About Tractor Supply

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.