Allspring Global Investments Holdings LLC Trims Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Allspring Global Investments Holdings LLC lowered its holdings in shares of Tractor Supply (NASDAQ:TSCO) by 3.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,269 shares of the specialty retailer’s stock after selling 1,466 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Tractor Supply were worth $8,014,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Fortune Financial Advisors LLC lifted its position in shares of Tractor Supply by 8.3% during the fourth quarter. Fortune Financial Advisors LLC now owns 4,485 shares of the specialty retailer’s stock worth $964,000 after purchasing an additional 343 shares during the last quarter. Pinnacle Bancorp Inc. purchased a new stake in Tractor Supply in the 4th quarter valued at about $28,000. International Assets Investment Management LLC grew its stake in Tractor Supply by 53.9% in the 4th quarter. International Assets Investment Management LLC now owns 1,257 shares of the specialty retailer’s stock worth $270,000 after acquiring an additional 440 shares in the last quarter. Busey Bank purchased a new position in shares of Tractor Supply during the fourth quarter worth approximately $215,000. Finally, Valley National Advisers Inc. raised its stake in shares of Tractor Supply by 77.6% during the fourth quarter. Valley National Advisers Inc. now owns 309 shares of the specialty retailer’s stock valued at $66,000 after acquiring an additional 135 shares in the last quarter. Institutional investors own 98.72% of the company’s stock.

Insider Buying and Selling

In related news, CFO Kurt D. Barton sold 4,335 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $257.00, for a total value of $1,114,095.00. Following the transaction, the chief financial officer now owns 20,678 shares in the company, valued at approximately $5,314,246. The sale was disclosed in a filing with the SEC, which is available through this link. In other Tractor Supply news, CFO Kurt D. Barton sold 4,335 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $257.00, for a total value of $1,114,095.00. Following the sale, the chief financial officer now directly owns 20,678 shares of the company’s stock, valued at $5,314,246. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Colin Yankee sold 8,675 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $250.00, for a total value of $2,168,750.00. Following the sale, the executive vice president now directly owns 9,673 shares in the company, valued at $2,418,250. The disclosure for this sale can be found here. Insiders sold 90,090 shares of company stock valued at $21,201,877 over the last quarter. 0.24% of the stock is currently owned by company insiders.

Analyst Ratings Changes

TSCO has been the topic of several research analyst reports. Benchmark reissued a “buy” rating and issued a $256.00 price objective on shares of Tractor Supply in a research note on Wednesday, April 3rd. Morgan Stanley restated an “underweight” rating and issued a $195.00 price objective on shares of Tractor Supply in a report on Tuesday, January 16th. The Goldman Sachs Group increased their target price on shares of Tractor Supply from $230.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Raymond James lowered shares of Tractor Supply from a “strong-buy” rating to an “outperform” rating and boosted their price target for the company from $230.00 to $250.00 in a report on Friday, February 2nd. Finally, Guggenheim increased their price objective on shares of Tractor Supply from $210.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $240.57.

Tractor Supply Stock Up 1.0 %

TSCO stock opened at $247.39 on Thursday. The stock has a market capitalization of $26.70 billion, a PE ratio of 24.52, a price-to-earnings-growth ratio of 3.68 and a beta of 0.84. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $268.02. The company has a quick ratio of 0.28, a current ratio of 1.50 and a debt-to-equity ratio of 0.82. The firm has a 50 day moving average of $249.23 and a 200 day moving average of $224.12.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings data on Thursday, February 1st. The specialty retailer reported $2.28 EPS for the quarter, topping the consensus estimate of $2.22 by $0.06. Tractor Supply had a net margin of 7.61% and a return on equity of 53.60%. The business had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.67 billion. During the same period in the previous year, the firm posted $2.43 earnings per share. The business’s revenue for the quarter was down 8.6% compared to the same quarter last year. Sell-side analysts forecast that Tractor Supply will post 10.19 earnings per share for the current year.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.78%. This is a boost from Tractor Supply’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Friday, February 23rd. Tractor Supply’s dividend payout ratio (DPR) is presently 43.61%.

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.