TD Asset Management Inc Cuts Stock Position in Tractor Supply Company $TSCO

TD Asset Management Inc lessened its holdings in shares of Tractor Supply Company (NASDAQ:TSCO) by 3.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 262,976 shares of the specialty retailer’s stock after selling 10,809 shares during the quarter. TD Asset Management Inc’s holdings in Tractor Supply were worth $14,955,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Delos Wealth Advisors LLC bought a new stake in Tractor Supply in the 2nd quarter valued at $26,000. Financial Gravity Companies Inc. bought a new position in Tractor Supply during the second quarter valued at approximately $38,000. Clayton Financial Group LLC purchased a new position in Tractor Supply during the 3rd quarter valued at approximately $44,000. First Horizon Corp bought a new stake in Tractor Supply in the 3rd quarter worth approximately $44,000. Finally, Evelyn Partners Asset Management Ltd bought a new stake in Tractor Supply in the 2nd quarter worth approximately $46,000. Institutional investors own 98.72% of the company’s stock.

Analyst Upgrades and Downgrades

TSCO has been the subject of a number of recent research reports. Gordon Haskett lowered shares of Tractor Supply from an “accumulate” rating to a “hold” rating and cut their target price for the company from $57.00 to $50.00 in a report on Thursday, January 8th. TD Cowen dropped their price objective on shares of Tractor Supply from $55.00 to $53.00 and set a “hold” rating for the company in a research note on Friday, January 30th. Evercore restated an “outperform” rating and issued a $60.00 target price on shares of Tractor Supply in a report on Friday, January 30th. Piper Sandler dropped their price target on Tractor Supply from $67.00 to $59.00 and set an “overweight” rating for the company in a research report on Friday, January 30th. Finally, JPMorgan Chase & Co. decreased their price objective on Tractor Supply from $62.00 to $59.00 and set a “neutral” rating on the stock in a research report on Friday, January 30th. Fifteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.78.

Insider Transactions at Tractor Supply

In other news, EVP Jonathan S. Estep sold 59,745 shares of the company’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $54.03, for a total transaction of $3,228,022.35. Following the transaction, the executive vice president directly owned 80,931 shares of the company’s stock, valued at approximately $4,372,701.93. This represents a 42.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Robert D. Mills sold 62,950 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $54.12, for a total transaction of $3,406,854.00. Following the completion of the transaction, the executive vice president directly owned 122,834 shares of the company’s stock, valued at $6,647,776.08. The trade was a 33.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 222,348 shares of company stock worth $11,959,621. 0.65% of the stock is owned by corporate insiders.

Tractor Supply Trading Up 1.3%

Shares of TSCO opened at $51.84 on Monday. The company has a 50-day moving average of $52.40 and a 200 day moving average of $54.94. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.34 and a quick ratio of 0.16. Tractor Supply Company has a 1-year low of $46.85 and a 1-year high of $63.99. The firm has a market capitalization of $27.29 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 2.60 and a beta of 0.72.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data 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 return on equity of 44.36% and a net margin of 7.06%.The business had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same period last year, the company earned $0.44 earnings per share. The firm’s revenue was up 3.3% compared to the same quarter last year. On average, research analysts expect that Tractor Supply Company will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, February 24th. This is an increase from Tractor Supply’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 1.9%. Tractor Supply’s dividend payout ratio is 46.38%.

Tractor Supply Company Profile

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.