Tractor Supply (NASDAQ:TSCO) Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P lessened its stake in Tractor Supply (NASDAQ:TSCO - Free Report) by 49.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,613 shares of the specialty retailer's stock after selling 23,317 shares during the period. Loomis Sayles & Co. L P's holdings in Tractor Supply were worth $1,253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in TSCO. Smithfield Trust Co grew its position in shares of Tractor Supply by 286.2% in the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock worth $25,000 after buying an additional 352 shares during the last quarter. PrairieView Partners LLC grew its holdings in Tractor Supply by 400.0% in the fourth quarter. PrairieView Partners LLC now owns 500 shares of the specialty retailer's stock worth $26,000 after purchasing an additional 400 shares during the last quarter. Future Financial Wealth Managment LLC boosted its position in shares of Tractor Supply by 400.0% in the 4th quarter. Future Financial Wealth Managment LLC now owns 500 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 400 shares in the last quarter. Archer Investment Corp raised its stake in Tractor Supply by 400.0% in the fourth quarter. Archer Investment Corp now owns 500 shares of the specialty retailer's stock valued at $27,000 after buying an additional 400 shares during the last quarter. Finally, Kentucky Trust Co purchased a new position in shares of Tractor Supply in the 4th quarter valued at approximately $27,000. 98.72% of the stock is currently owned by institutional investors.

Remove Ads

Tractor Supply Stock Down 1.4 %

TSCO traded down $0.79 on Thursday, hitting $54.83. 1,783,562 shares of the company were exchanged, compared to its average volume of 5,051,660. The firm has a 50-day moving average price of $54.98 and a two-hundred day moving average price of $55.64. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. Tractor Supply has a twelve month low of $48.30 and a twelve month high of $61.53. The company has a market cap of $29.28 billion, a price-to-earnings ratio of 26.88, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 EPS for the quarter, missing analysts' consensus estimates of $2.28 by ($1.84). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. On average, equities analysts predict that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 13th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to purchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board of directors believes its shares are undervalued.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.71%. This is a positive change from Tractor Supply's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, February 26th. Tractor Supply's dividend payout ratio (DPR) is presently 45.10%.

Insider Transactions at Tractor Supply

In related news, CEO Harry A. Lawton III sold 88,095 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the completion of the sale, the chief executive officer now owns 488,852 shares in the company, valued at $26,686,430.68. The trade was a 15.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Colin Yankee sold 24,602 shares of the company's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $54.15, for a total value of $1,332,198.30. Following the completion of the transaction, the executive vice president now directly owns 33,645 shares of the company's stock, valued at $1,821,876.75. This trade represents a 42.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 137,993 shares of company stock valued at $7,538,068. Insiders own 0.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Loop Capital lifted their price target on Tractor Supply from $53.00 to $58.00 and gave the stock a "hold" rating in a research report on Thursday, December 12th. Barclays lowered their target price on shares of Tractor Supply from $262.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Monday, December 30th. Telsey Advisory Group reissued an "outperform" rating and issued a $67.00 price target on shares of Tractor Supply in a research note on Thursday, January 30th. Truist Financial reduced their price objective on Tractor Supply from $63.00 to $60.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Finally, Guggenheim reissued a "buy" rating and issued a $60.00 target price on shares of Tractor Supply in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $59.22.

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.