Meiji Yasuda Asset Management Co Ltd. Acquires 42 Shares of Tractor Supply (NASDAQ:TSCO)

Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 1.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,464 shares of the specialty retailer’s stock after acquiring an additional 42 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Tractor Supply were worth $935,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in TSCO. Wellington Management Group LLP increased its position in shares of Tractor Supply by 63.2% during the fourth quarter. Wellington Management Group LLP now owns 4,606,455 shares of the specialty retailer’s stock worth $990,526,000 after acquiring an additional 1,784,304 shares in the last quarter. Capital World Investors increased its position in shares of Tractor Supply by 10.0% during the fourth quarter. Capital World Investors now owns 5,849,188 shares of the specialty retailer’s stock worth $1,257,751,000 after acquiring an additional 531,170 shares in the last quarter. Capital International Investors grew its position in Tractor Supply by 7.6% in the 4th quarter. Capital International Investors now owns 6,233,852 shares of the specialty retailer’s stock worth $1,340,589,000 after purchasing an additional 439,954 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Tractor Supply by 12.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,330,621 shares of the specialty retailer’s stock worth $871,691,000 after purchasing an additional 368,859 shares in the last quarter. Finally, Clearbridge Investments LLC grew its position in Tractor Supply by 11,952.8% in the 1st quarter. Clearbridge Investments LLC now owns 241,177 shares of the specialty retailer’s stock worth $63,121,000 after purchasing an additional 239,176 shares in the last quarter. 98.72% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Tractor Supply news, SVP Matthew L. Rubin sold 540 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $1,356,349.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.24% of the company’s stock.

Tractor Supply Price Performance

TSCO stock opened at $273.97 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.25 and a current ratio of 1.43. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $290.38. The firm’s fifty day moving average is $267.73 and its 200 day moving average is $266.44. The firm has a market cap of $29.55 billion, a P/E ratio of 26.68, a P/E/G ratio of 3.56 and a beta of 0.80.

Tractor Supply (NASDAQ:TSCO) last released its earnings results on Thursday, July 25th. The specialty retailer reported $3.93 EPS for the quarter, meeting the consensus estimate of $3.93. The company had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.28 billion. Tractor Supply had a net margin of 7.65% and a return on equity of 51.84%. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $3.83 EPS. Research analysts predict that Tractor Supply will post 10.23 earnings per share for the current year.

Tractor Supply Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Monday, August 26th. Tractor Supply’s dividend payout ratio (DPR) is presently 42.84%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on TSCO shares. Benchmark reaffirmed a “buy” rating and issued a $280.00 price objective on shares of Tractor Supply in a research report on Friday, July 26th. Loop Capital upped their price objective on shares of Tractor Supply from $250.00 to $260.00 and gave the stock a “hold” rating in a research report on Friday, September 6th. Wedbush reiterated a “neutral” rating and issued a $270.00 target price on shares of Tractor Supply in a research note on Friday, July 26th. Wells Fargo & Company boosted their target price on shares of Tractor Supply from $285.00 to $295.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. Finally, Evercore ISI dropped their price target on shares of Tractor Supply from $290.00 to $280.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $256.72.

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.