TIAA Trust National Association Sells 826 Shares of Tractor Supply Company (NASDAQ:TSCO)

TIAA Trust National Association lessened its stake in shares of Tractor Supply Company (NASDAQ:TSCO) by 5.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,904 shares of the specialty retailer’s stock after selling 826 shares during the period. TIAA Trust National Association’s holdings in Tractor Supply were worth $766,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FORA Capital LLC increased its holdings in Tractor Supply by 434.1% during the fourth quarter. FORA Capital LLC now owns 35,526 shares of the specialty retailer’s stock valued at $1,885,000 after buying an additional 28,875 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Tractor Supply by 7.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 70,944 shares of the specialty retailer’s stock valued at $3,911,000 after buying an additional 5,184 shares during the period. Sowell Financial Services LLC increased its holdings in Tractor Supply by 49.3% during the first quarter. Sowell Financial Services LLC now owns 20,029 shares of the specialty retailer’s stock valued at $1,104,000 after buying an additional 6,612 shares during the period. Sequoia Financial Advisors LLC increased its holdings in Tractor Supply by 9.2% during the first quarter. Sequoia Financial Advisors LLC now owns 112,233 shares of the specialty retailer’s stock valued at $6,184,000 after buying an additional 9,483 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Tractor Supply by 27.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 319,132 shares of the specialty retailer’s stock valued at $17,584,000 after buying an additional 68,487 shares during the period. Institutional investors own 98.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. 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 report on Friday, July 25th. DA Davidson lifted their price target on shares of Tractor Supply from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Bank of America raised shares of Tractor Supply from an “underperform” rating to a “buy” rating and set a $70.00 price target on the stock in a report on Thursday, July 24th. Loop Capital lifted their price target on shares of Tractor Supply from $48.00 to $60.00 and gave the stock a “hold” rating in a report on Friday, July 25th. Finally, Guggenheim cut their price target on shares of Tractor Supply from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Nine analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $61.80.

Insider Activity at Tractor Supply

In related 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 completion of the transaction, the director directly owned 35,288 shares in the company, valued at $1,973,657.84. The trade was a 11.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Noni L. Ellison sold 5,200 shares of the business’s stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $63.96, for a total transaction of $332,592.00. Following the transaction, the senior vice president owned 28,639 shares of the company’s stock, valued at $1,831,750.44. This represents a 15.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 207,490 shares of company stock valued at $12,216,998 over the last ninety days. Corporate insiders own 0.65% of the company’s stock.

Tractor Supply Trading Up 3.2%

NASDAQ TSCO opened at $59.50 on Tuesday. The company has a market capitalization of $31.55 billion, a PE ratio of 29.20, a P/E/G ratio of 2.96 and a beta of 0.75. The company has a fifty day moving average of $54.17 and a 200 day moving average of $53.56. Tractor Supply Company has a 1 year low of $46.85 and a 1 year high of $63.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.28 and a quick ratio of 0.16.

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

Tractor Supply Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were given a dividend of $0.23 per share. The ex-dividend date was Wednesday, May 28th. This represents a $0.92 dividend on an annualized basis and a yield of 1.5%. Tractor Supply’s payout ratio is currently 45.10%.

Tractor Supply Company Profile

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.