Minneapolis Portfolio Management Group LLC Raises Position in Tractor Supply (TSCO)

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Minneapolis Portfolio Management Group LLC boosted its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 0.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 505,295 shares of the specialty retailer’s stock after purchasing an additional 2,834 shares during the quarter. Tractor Supply comprises 5.1% of Minneapolis Portfolio Management Group LLC’s portfolio, making the stock its 5th biggest holding. Minneapolis Portfolio Management Group LLC owned 0.41% of Tractor Supply worth $38,650,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Ridgewood Investments LLC increased its stake in Tractor Supply by 6.2% in the 2nd quarter. Ridgewood Investments LLC now owns 10,668 shares of the specialty retailer’s stock worth $816,000 after acquiring an additional 625 shares during the last quarter. Patten & Patten Inc. TN increased its stake in Tractor Supply by 0.5% in the 2nd quarter. Patten & Patten Inc. TN now owns 151,289 shares of the specialty retailer’s stock worth $11,572,000 after acquiring an additional 680 shares during the last quarter. Amalgamated Bank increased its stake in Tractor Supply by 3.8% in the 2nd quarter. Amalgamated Bank now owns 19,073 shares of the specialty retailer’s stock worth $1,459,000 after acquiring an additional 691 shares during the last quarter. Donald L. Hagan LLC increased its stake in Tractor Supply by 3.2% in the 2nd quarter. Donald L. Hagan LLC now owns 23,284 shares of the specialty retailer’s stock worth $1,781,000 after acquiring an additional 725 shares during the last quarter. Finally, Xact Kapitalforvaltning AB increased its stake in Tractor Supply by 3.5% in the 1st quarter. Xact Kapitalforvaltning AB now owns 22,701 shares of the specialty retailer’s stock worth $1,431,000 after acquiring an additional 772 shares during the last quarter. 79.10% of the stock is currently owned by institutional investors.

TSCO opened at $80.51 on Friday. Tractor Supply has a 52-week low of $53.92 and a 52-week high of $82.68. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.92 and a quick ratio of 0.19. The firm has a market cap of $9.79 billion, a P/E ratio of 24.18, a price-to-earnings-growth ratio of 1.50 and a beta of 1.33.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data on Thursday, July 26th. The specialty retailer reported $1.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.08. Tractor Supply had a return on equity of 35.24% and a net margin of 6.34%. The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.17 billion. During the same quarter in the previous year, the business earned $1.25 EPS. Tractor Supply’s revenue was up 9.7% compared to the same quarter last year. research analysts forecast that Tractor Supply will post 4.18 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 11th. Shareholders of record on Monday, August 27th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Friday, August 24th. Tractor Supply’s dividend payout ratio (DPR) is presently 37.24%.

A number of research firms have issued reports on TSCO. Oppenheimer lifted their price objective on Tractor Supply from $80.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday. ValuEngine raised Tractor Supply from a “hold” rating to a “buy” rating in a research note on Tuesday, August 14th. Zacks Investment Research raised Tractor Supply from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research note on Friday, August 3rd. Stephens set a $93.00 price objective on Tractor Supply and gave the stock a “buy” rating in a research note on Friday, July 27th. Finally, Credit Suisse Group lifted their price objective on Tractor Supply from $73.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, July 27th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $79.62.

In other Tractor Supply news, EVP Benjamin F. Parrish, Jr. sold 5,000 shares of Tractor Supply stock in a transaction on Monday, July 9th. The stock was sold at an average price of $78.44, for a total transaction of $392,200.00. Following the completion of the sale, the executive vice president now directly owns 21,948 shares of the company’s stock, valued at approximately $1,721,601.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Steve K. Barbarick sold 20,000 shares of Tractor Supply stock in a transaction on Friday, July 20th. The shares were sold at an average price of $79.99, for a total value of $1,599,800.00. Following the sale, the chief marketing officer now directly owns 76,953 shares of the company’s stock, valued at $6,155,470.47. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,146 shares of company stock valued at $2,890,607. 1.60% of the stock is currently owned by corporate insiders.

Tractor Supply Company Profile

Tractor Supply Company operates rural lifestyle retail stores in the United States. The company offers a selection of merchandise, including equine, livestock, pet, and small animal products necessary for their health, care, growth, and containment; hardware, truck, towing, and tool products; seasonal products, such as heating products, lawn and garden items, power equipment, gifts, and toys; work/recreational clothing and footwear; and maintenance products for agricultural and rural use.

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Institutional Ownership by Quarter for Tractor Supply (NASDAQ:TSCO)

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