Meridiem Investment Management Ltd. Sells 29,809 Shares of Tractor Supply (NASDAQ:TSCO)

Meridiem Investment Management Ltd. reduced its stake in shares of Tractor Supply (NASDAQ:TSCO - Free Report) by 2.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,025,977 shares of the specialty retailer's stock after selling 29,809 shares during the quarter. Tractor Supply accounts for approximately 5.3% of Meridiem Investment Management Ltd.'s holdings, making the stock its 8th largest holding. Meridiem Investment Management Ltd. owned about 0.95% of Tractor Supply worth $298,520,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Henrickson Nauta Wealth Advisors Inc. lifted its position in shares of Tractor Supply by 3.2% during the third quarter. Henrickson Nauta Wealth Advisors Inc. now owns 1,127 shares of the specialty retailer's stock worth $328,000 after purchasing an additional 35 shares in the last quarter. Signature Wealth Management Group lifted its holdings in Tractor Supply by 0.5% in the 2nd quarter. Signature Wealth Management Group now owns 6,999 shares of the specialty retailer's stock worth $1,890,000 after buying an additional 38 shares in the last quarter. X Square Capital LLC boosted its position in Tractor Supply by 1.6% in the 2nd quarter. X Square Capital LLC now owns 2,579 shares of the specialty retailer's stock valued at $696,000 after buying an additional 41 shares during the last quarter. Eads & Heald Wealth Management grew its stake in shares of Tractor Supply by 0.6% during the second quarter. Eads & Heald Wealth Management now owns 7,040 shares of the specialty retailer's stock valued at $1,901,000 after acquiring an additional 42 shares in the last quarter. Finally, Whittier Trust Co. increased its position in shares of Tractor Supply by 60.9% during the second quarter. Whittier Trust Co. now owns 111 shares of the specialty retailer's stock worth $30,000 after acquiring an additional 42 shares during the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on TSCO shares. Citigroup lowered Tractor Supply from a "strong-buy" rating to a "hold" rating in a research note on Thursday. Piper Sandler lifted their price target on shares of Tractor Supply from $300.00 to $332.00 and gave the stock an "overweight" rating in a research note on Monday, October 14th. Loop Capital increased their price objective on shares of Tractor Supply from $250.00 to $260.00 and gave the company a "hold" rating in a research note on Friday, September 6th. Wedbush reissued a "neutral" rating and issued a $270.00 target price on shares of Tractor Supply in a research report on Friday, July 26th. Finally, Truist Financial increased their price target on shares of Tractor Supply from $293.00 to $325.00 and gave the stock a "buy" rating in a research report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Tractor Supply has an average rating of "Moderate Buy" and a consensus price target of $272.50.

Insider Transactions at Tractor Supply

In related news, CFO Kurt D. Barton sold 23,532 shares of the business's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total transaction of $6,957,000.48. Following the sale, the chief financial officer now owns 9,683 shares of the company's stock, valued at $2,862,682.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Kurt D. Barton sold 23,532 shares of the firm's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total transaction of $6,957,000.48. Following the completion of the transaction, the chief financial officer now owns 9,683 shares of the company's stock, valued at $2,862,682.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Matthew L. Rubin sold 540 shares of Tractor Supply stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $262.35, for a total value of $141,669.00. Following the transaction, the senior vice president now directly owns 5,170 shares in the company, valued at approximately $1,356,349.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.24% of the company's stock.

Tractor Supply Stock Performance

Shares of NASDAQ TSCO traded down $0.70 during midday trading on Friday, hitting $297.62. 823,620 shares of the company's stock were exchanged, compared to its average volume of 1,047,423. Tractor Supply has a twelve month low of $185.00 and a twelve month high of $307.64. The firm has a market cap of $32.09 billion, a P/E ratio of 28.98, a PEG ratio of 3.81 and a beta of 0.80. The stock's 50 day moving average price is $279.96 and its 200-day moving average price is $272.03. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.43 and a quick ratio of 0.25.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $3.93. The company had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.28 billion. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The firm's quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.83 EPS. Equities research analysts anticipate that Tractor Supply will post 10.23 EPS for the current year.

Tractor Supply Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were given a dividend of $1.10 per share. The ex-dividend date was Monday, August 26th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.48%. Tractor Supply's dividend payout ratio (DPR) is 42.84%.

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.