Tractor Supply Company (NASDAQ:TSCO) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lowered its holdings in shares of Tractor Supply Company (NASDAQ:TSCO) by 0.1% during the 1st quarter, Holdings Channel reports. The fund owned 285,090 shares of the specialty retailer’s stock after selling 358 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Tractor Supply were worth $15,708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Tractor Supply by 392.5% during the fourth quarter. Vanguard Group Inc. now owns 64,033,972 shares of the specialty retailer’s stock worth $3,397,643,000 after purchasing an additional 51,031,178 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Tractor Supply by 401.8% during the fourth quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer’s stock valued at $1,262,258,000 after purchasing an additional 19,048,385 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Tractor Supply by 403.3% during the fourth quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer’s stock valued at $1,180,932,000 after buying an additional 17,834,643 shares in the last quarter. Capital World Investors boosted its stake in Tractor Supply by 403.7% in the 4th quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer’s stock worth $1,031,122,000 after purchasing an additional 15,575,311 shares during the period. Finally, Capital International Investors boosted its position in shares of Tractor Supply by 334.7% in the fourth quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer’s stock worth $818,421,000 after buying an additional 11,880,010 shares during the period. 98.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TSCO shares. JPMorgan Chase & Co. decreased their price target on shares of Tractor Supply from $59.00 to $56.00 and set a “neutral” rating for the company in a report on Monday, April 28th. UBS Group set a $54.00 price objective on shares of Tractor Supply in a research note on Friday, April 25th. Raymond James Financial decreased their target price on Tractor Supply from $61.00 to $57.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Citigroup decreased their price target on shares of Tractor Supply from $59.00 to $51.00 and set a “neutral” rating on the stock in a research note on Friday, April 25th. Finally, Telsey Advisory Group set a $60.00 price objective on Tractor Supply in a report on Friday, April 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $58.02.

Tractor Supply Stock Performance

Shares of Tractor Supply stock opened at $52.80 on Thursday. The firm has a market cap of $27.99 billion, a P/E ratio of 26.22, a P/E/G ratio of 2.88 and a beta of 0.74. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.41 and a quick ratio of 0.17. The firm has a 50 day simple moving average of $50.86 and a 200 day simple moving average of $53.11. Tractor Supply Company has a fifty-two week low of $46.85 and a fifty-two week high of $61.53.

Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.03). Tractor Supply had a net margin of 7.24% and a return on equity of 47.56%. The business had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.55 billion. During the same period last year, the business posted $1.83 EPS. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. Sell-side analysts predict that Tractor Supply Company will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend was Wednesday, May 28th. Tractor Supply’s dividend payout ratio (DPR) is currently 45.77%.

Insider Buying and Selling

In other news, SVP Matthew L. Rubin sold 2,810 shares of Tractor Supply stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $51.76, for a total transaction of $145,445.60. Following the transaction, the senior vice president now directly owns 29,722 shares of the company’s stock, valued at $1,538,410.72. This trade represents a 8.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jonathan S. Estep sold 56,630 shares of the business’s stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $53.00, for a total transaction of $3,001,390.00. Following the completion of the transaction, the executive vice president now directly owns 74,605 shares of the company’s stock, valued at $3,954,065. This trade represents a 43.15% decrease in their position. The disclosure for this sale can be found here. 0.65% of the stock is owned by insiders.

Tractor Supply 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.