Capital World Investors Sells 3,379,803 Shares of Tractor Supply Company $TSCO

Capital World Investors decreased its position in shares of Tractor Supply Company (NASDAQ:TSCO) by 18.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,821,007 shares of the specialty retailer’s stock after selling 3,379,803 shares during the quarter. Capital World Investors owned approximately 2.80% of Tractor Supply worth $842,871,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Tractor Supply in a report on Monday, December 29th. JPMorgan Chase & Co. decreased their price target on shares of Tractor Supply from $62.00 to $59.00 and set a “neutral” rating on the stock in a research note on Friday, January 30th. Gordon Haskett downgraded shares of Tractor Supply from an “accumulate” rating to a “hold” rating and cut their price objective for the stock from $57.00 to $50.00 in a research report on Thursday, January 8th. Mizuho decreased their target price on Tractor Supply from $65.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, January 30th. Finally, Truist Financial set a $55.00 target price on Tractor Supply and gave the stock a “hold” rating in a research note on Friday, January 16th. Fifteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $59.78.

Tractor Supply Trading Down 0.7%

Shares of NASDAQ TSCO opened at $50.34 on Wednesday. The stock has a market cap of $26.50 billion, a P/E ratio of 24.32, a price-to-earnings-growth ratio of 2.54 and a beta of 0.72. Tractor Supply Company has a 52-week low of $46.85 and a 52-week high of $63.99. The firm has a 50 day moving average price of $52.35 and a two-hundred day moving average price of $54.44. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.16 and a current ratio of 1.34.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results on Thursday, January 29th. The specialty retailer reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.03). Tractor Supply had a return on equity of 44.36% and a net margin of 7.06%.The firm had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter in the previous year, the business posted $0.44 EPS. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, equities analysts forecast that Tractor Supply Company will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th were issued a dividend of $0.24 per share. 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 dividend yield of 1.9%. The ex-dividend date was Tuesday, February 24th. Tractor Supply’s dividend payout ratio is 46.38%.

Insider Buying and Selling at Tractor Supply

In other news, EVP Colin Yankee sold 11,170 shares of the company’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $55.35, for a total value of $618,259.50. Following the completion of the sale, the executive vice president owned 45,515 shares in the company, valued at $2,519,255.25. This represents a 19.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Robert D. Mills sold 62,950 shares of Tractor Supply stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $54.12, for a total value of $3,406,854.00. Following the sale, the executive vice president owned 122,834 shares in the company, valued at $6,647,776.08. This trade represents a 33.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 222,348 shares of company stock worth $11,959,621. 0.65% of the stock is currently owned by corporate insiders.

About Tractor Supply

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.