Scout Investments Inc. Cuts Stake in Tractor Supply (NASDAQ:TSCO)

Scout Investments Inc. reduced its stake in Tractor Supply (NASDAQ:TSCO) by 18.5% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 106,810 shares of the specialty retailer’s stock after selling 24,306 shares during the quarter. Scout Investments Inc. owned 0.10% of Tractor Supply worth $22,967,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Thematics Asset Management raised its stake in Tractor Supply by 3.5% in the 4th quarter. Thematics Asset Management now owns 21,904 shares of the specialty retailer’s stock valued at $4,710,000 after acquiring an additional 747 shares during the period. Veritas Investment Partners UK Ltd. raised its stake in Tractor Supply by 19.0% in the 4th quarter. Veritas Investment Partners UK Ltd. now owns 1,061,048 shares of the specialty retailer’s stock valued at $228,180,000 after acquiring an additional 169,450 shares during the period. Stephens Inc. AR raised its stake in Tractor Supply by 6.6% in the 4th quarter. Stephens Inc. AR now owns 33,102 shares of the specialty retailer’s stock valued at $7,118,000 after acquiring an additional 2,039 shares during the period. Cibc World Markets Corp raised its stake in Tractor Supply by 39.5% in the 4th quarter. Cibc World Markets Corp now owns 27,288 shares of the specialty retailer’s stock valued at $5,868,000 after acquiring an additional 7,730 shares during the period. Finally, Homestead Advisers Corp raised its stake in Tractor Supply by 38.6% in the 4th quarter. Homestead Advisers Corp now owns 503 shares of the specialty retailer’s stock valued at $108,000 after acquiring an additional 140 shares during the period. 98.72% of the stock is owned by hedge funds and other institutional investors.

Tractor Supply Trading Up 0.4 %

Shares of NASDAQ:TSCO traded up $1.17 during trading on Friday, reaching $270.93. 954,616 shares of the company traded hands, compared to its average volume of 1,021,039. The firm has a market capitalization of $29.21 billion, a price-to-earnings ratio of 26.38, a P/E/G ratio of 3.53 and a beta of 0.83. Tractor Supply has a 52-week low of $185.00 and a 52-week high of $287.89. The company has a current ratio of 1.40, a quick ratio of 0.19 and a debt-to-equity ratio of 0.83. The business’s fifty day moving average is $266.64 and its 200-day moving average is $242.53.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.13. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The company had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.40 billion. During the same quarter last year, the firm posted $1.65 earnings per share. The firm’s revenue was up 2.8% on a year-over-year basis. As a group, analysts forecast that Tractor Supply will post 10.34 EPS for the current year.

Tractor Supply Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Tuesday, May 28th will be paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend is Friday, May 24th. Tractor Supply’s payout ratio is 42.84%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TSCO shares. JPMorgan Chase & Co. upped their price target on Tractor Supply from $241.00 to $263.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Barclays upped their price target on Tractor Supply from $234.00 to $240.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Truist Financial upped their price objective on shares of Tractor Supply from $277.00 to $289.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Piper Sandler upped their price objective on shares of Tractor Supply from $265.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. Finally, Wedbush restated a “neutral” rating and issued a $235.00 price objective on shares of Tractor Supply in a research report on Tuesday, April 23rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $253.96.

Insider Buying and Selling

In other Tractor Supply news, CFO Kurt D. Barton sold 4,335 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $257.00, for a total value of $1,114,095.00. Following the completion of the transaction, the chief financial officer now owns 20,678 shares in the company, valued at $5,314,246. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.24% of the stock is currently owned by 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.