Sumitomo Mitsui Trust Group Inc. Sells 53,379 Shares of Tractor Supply Company $TSCO

Sumitomo Mitsui Trust Group Inc. decreased its position in shares of Tractor Supply Company (NASDAQ:TSCO) by 4.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,222,915 shares of the specialty retailer’s stock after selling 53,379 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.23% of Tractor Supply worth $38,265,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Tractor Supply during the 2nd quarter worth $1,500,967,000. State Street Corp boosted its stake in Tractor Supply by 2.9% in the second quarter. State Street Corp now owns 23,500,716 shares of the specialty retailer’s stock valued at $742,858,000 after acquiring an additional 665,648 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Tractor Supply by 1.7% during the first quarter. Dimensional Fund Advisors LP now owns 5,267,878 shares of the specialty retailer’s stock valued at $238,639,000 after purchasing an additional 89,295 shares during the period. Van ECK Associates Corp increased its position in shares of Tractor Supply by 2,983.6% during the second quarter. Van ECK Associates Corp now owns 5,144,955 shares of the specialty retailer’s stock worth $162,632,000 after acquiring an additional 4,978,105 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Tractor Supply by 3.1% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,944,848 shares of the specialty retailer’s stock valued at $156,307,000 after purchasing an additional 150,285 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. BNP Paribas Exane lifted their price target on shares of Tractor Supply from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, October 23rd. Truist Financial set a $33.00 price objective on shares of Tractor Supply and gave the stock a “hold” rating in a report on Monday, October 19th. Argus set a $41.00 target price on Tractor Supply in a report on Tuesday, July 28th. Weiss Ratings upgraded Tractor Supply from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, September 28th. Finally, Piper Sandler set a $35.00 price target on shares of Tractor Supply in a report on Friday, October 23rd. Thirteen research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $38.62.

Tractor Supply Stock Performance

Shares of NASDAQ TSCO opened at $36.58 on Thursday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.20 and a current ratio of 1.38. The company’s fifty day moving average price is $33.30 and its 200 day moving average price is $38.04. The company has a market capitalization of $19.18 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 3.64 and a beta of 0.49. Tractor Supply Company has a 1 year low of $28.36 and a 1 year high of $56.94.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data on Thursday, October 22nd. The specialty retailer reported $0.43 EPS for the quarter, beating the consensus estimate of $0.41 by $0.02. The business had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.82 billion. Tractor Supply had a net margin of 6.13% and a return on equity of 40.05%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.49 earnings per share. On average, research analysts predict that Tractor Supply Company will post 1.94 earnings per share for the current year.

About Tractor Supply

Tractor Supply Company (NASDAQ:TSCO) is a specialty retailer serving the needs of farmers, ranchers, hobby farmers, pet owners, gardeners and other rural lifestyle customers. The company operates under the Tractor Supply banner and focuses on products that support everyday rural living, land maintenance and animal care.

Its merchandise includes livestock and pet feed, animal health and care products, fencing, hardware, tools, power equipment, lawn and garden supplies, work clothing, footwear, automotive products and seasonal goods.