Desjardins Global Asset Management Inc. Cuts Stake in Tractor Supply (NASDAQ:TSCO)

Desjardins Global Asset Management Inc. reduced its position in Tractor Supply (NASDAQ:TSCO) by 55.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,250 shares of the specialty retailer’s stock after selling 1,529 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Tractor Supply were worth $269,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Citizens National Bank Trust Department grew its holdings in Tractor Supply by 0.5% in the fourth quarter. Citizens National Bank Trust Department now owns 9,700 shares of the specialty retailer’s stock worth $2,086,000 after purchasing an additional 45 shares during the last quarter. Allen Capital Group LLC grew its holdings in Tractor Supply by 0.6% in the third quarter. Allen Capital Group LLC now owns 8,869 shares of the specialty retailer’s stock worth $1,805,000 after purchasing an additional 53 shares during the last quarter. Scotia Capital Inc. grew its holdings in shares of Tractor Supply by 2.5% during the third quarter. Scotia Capital Inc. now owns 2,177 shares of the specialty retailer’s stock valued at $442,000 after buying an additional 54 shares during the last quarter. Taylor Frigon Capital Management LLC grew its holdings in shares of Tractor Supply by 0.8% during the third quarter. Taylor Frigon Capital Management LLC now owns 6,762 shares of the specialty retailer’s stock valued at $1,373,000 after buying an additional 55 shares during the last quarter. Finally, Fortune Financial Advisors LLC grew its holdings in shares of Tractor Supply by 1.4% during the third quarter. Fortune Financial Advisors LLC now owns 4,142 shares of the specialty retailer’s stock valued at $841,000 after buying an additional 56 shares during the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Benchmark reissued a “buy” rating and set a $256.00 price objective on shares of Tractor Supply in a report on Wednesday, April 3rd. UBS Group boosted their price objective on shares of Tractor Supply from $220.00 to $240.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. Guggenheim boosted their price objective on shares of Tractor Supply from $210.00 to $255.00 and gave the company a “buy” rating in a report on Friday, February 2nd. The Goldman Sachs Group boosted their price objective on shares of Tractor Supply from $230.00 to $262.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Barclays boosted their price objective on shares of Tractor Supply from $192.00 to $234.00 and gave the company an “equal weight” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $240.57.

Tractor Supply Trading Down 0.0 %

TSCO stock opened at $247.35 on Friday. The company’s 50-day simple moving average is $249.54 and its 200-day simple moving average is $224.28. The company has a quick ratio of 0.28, a current ratio of 1.50 and a debt-to-equity ratio of 0.82. Tractor Supply has a 52-week low of $185.00 and a 52-week high of $268.02. The firm has a market cap of $26.70 billion, a P/E ratio of 24.51, a PEG ratio of 3.72 and a beta of 0.84.

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

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were paid a $1.10 dividend. The ex-dividend date was Friday, February 23rd. This is a positive change from Tractor Supply’s previous quarterly dividend of $1.03. This represents a $4.40 dividend on an annualized basis and a yield of 1.78%. Tractor Supply’s dividend payout ratio (DPR) is currently 43.61%.

Insider Activity at Tractor Supply

In related news, EVP Jonathan S. Estep sold 7,120 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $232.26, for a total value of $1,653,691.20. Following the transaction, the executive vice president now directly owns 13,605 shares of the company’s stock, valued at approximately $3,159,897.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Jonathan S. Estep sold 7,120 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $232.26, for a total value of $1,653,691.20. Following the transaction, the executive vice president now directly owns 13,605 shares of the company’s stock, valued at approximately $3,159,897.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Matthew L. Rubin sold 725 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $238.09, for a total transaction of $172,615.25. Following the completion of the transaction, the senior vice president now directly owns 5,710 shares in the company, valued at $1,359,493.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,090 shares of company stock valued at $21,201,877. 0.24% of the stock is owned by corporate insiders.

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.