Tractor Supply Company (NASDAQ:TSCO) Shares Sold by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd decreased its stake in Tractor Supply Company (NASDAQ:TSCO) by 1.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 129,798 shares of the specialty retailer’s stock after selling 2,457 shares during the period. Mediolanum International Funds Ltd’s holdings in Tractor Supply were worth $6,940,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Corebridge Financial Inc. increased its position in Tractor Supply by 385.2% in the fourth quarter. Corebridge Financial Inc. now owns 137,523 shares of the specialty retailer’s stock worth $7,297,000 after buying an additional 109,177 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Tractor Supply by 388.8% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 314,545 shares of the specialty retailer’s stock worth $16,690,000 after acquiring an additional 250,197 shares during the last quarter. Financial Counselors Inc. increased its holdings in shares of Tractor Supply by 357.9% in the 4th quarter. Financial Counselors Inc. now owns 4,355 shares of the specialty retailer’s stock worth $231,000 after acquiring an additional 3,404 shares during the period. Korea Investment CORP lifted its position in Tractor Supply by 459.7% in the 4th quarter. Korea Investment CORP now owns 87,600 shares of the specialty retailer’s stock valued at $4,648,000 after purchasing an additional 71,949 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Tractor Supply by 428.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 842,271 shares of the specialty retailer’s stock valued at $43,739,000 after purchasing an additional 682,963 shares during the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Stephens initiated coverage on shares of Tractor Supply in a research report on Wednesday, April 9th. They issued an “equal weight” rating and a $56.00 target price for the company. Evercore ISI increased their price objective on Tractor Supply from $60.00 to $65.00 and gave the stock an “in-line” rating in a report on Friday. Truist Financial lifted their target price on Tractor Supply from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Friday. Loop Capital increased their price target on Tractor Supply from $48.00 to $60.00 and gave the stock a “hold” rating in a research note on Friday. Finally, UBS Group lifted their price objective on shares of Tractor Supply from $54.00 to $61.00 and gave the company a “neutral” rating in a research note on Friday. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $61.80.

Tractor Supply Trading Down 0.0%

Tractor Supply stock opened at $59.33 on Friday. The firm has a market cap of $31.46 billion, a price-to-earnings ratio of 29.11, a price-to-earnings-growth ratio of 3.20 and a beta of 0.75. Tractor Supply Company has a 1 year low of $46.85 and a 1 year high of $63.99. The firm’s 50 day moving average price is $53.27 and its two-hundred day moving average price is $53.39. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.17 and a current ratio of 1.28.

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

Tractor Supply Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend was Wednesday, May 28th. Tractor Supply’s payout ratio is 45.10%.

Insider Transactions at Tractor Supply

In other Tractor Supply news, Director Denise L. Jackson sold 4,630 shares of the business’s stock in a transaction on Monday, July 7th. The shares were sold at an average price of $55.93, for a total transaction of $258,955.90. Following the sale, the director directly owned 35,288 shares of the company’s stock, valued at $1,973,657.84. The trade was a 11.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Matthew L. Rubin sold 2,810 shares of the firm’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $51.76, for a total value of $145,445.60. Following the completion of the sale, the senior vice president directly owned 29,722 shares of the company’s stock, valued at approximately $1,538,410.72. This trade represents a 8.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 105,610 shares of company stock valued at $5,737,894 over the last ninety days. Corporate insiders own 0.65% of the company’s stock.

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.