TD Asset Management Inc Reduces Stake in Tractor Supply Company $TSCO

TD Asset Management Inc reduced its holdings in Tractor Supply Company (NASDAQ:TSCO) by 3.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 262,976 shares of the specialty retailer’s stock after selling 10,809 shares during the quarter. TD Asset Management Inc’s holdings in Tractor Supply were worth $14,955,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Palumbo Wealth Management LLC increased its position in Tractor Supply by 0.5% during the 3rd quarter. Palumbo Wealth Management LLC now owns 54,751 shares of the specialty retailer’s stock valued at $3,100,000 after purchasing an additional 262 shares during the period. Mufg Securities Americas Inc. increased its position in shares of Tractor Supply by 21.6% during the third quarter. Mufg Securities Americas Inc. now owns 14,291 shares of the specialty retailer’s stock valued at $813,000 after buying an additional 2,541 shares during the period. Compound Planning Inc. increased its position in shares of Tractor Supply by 5.8% during the third quarter. Compound Planning Inc. now owns 5,887 shares of the specialty retailer’s stock valued at $335,000 after buying an additional 323 shares during the period. Vestmark Advisory Solutions Inc. raised its stake in Tractor Supply by 5.1% in the third quarter. Vestmark Advisory Solutions Inc. now owns 4,514 shares of the specialty retailer’s stock worth $257,000 after buying an additional 218 shares in the last quarter. Finally, Alliance Wealth Advisors LLC UT lifted its holdings in Tractor Supply by 6.4% in the third quarter. Alliance Wealth Advisors LLC UT now owns 20,559 shares of the specialty retailer’s stock worth $1,169,000 after buying an additional 1,233 shares during the period. Institutional investors own 98.72% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TSCO. Morgan Stanley decreased their target price on Tractor Supply from $60.00 to $57.00 and set an “equal weight” rating for the company in a research report on Friday, January 30th. JPMorgan Chase & Co. decreased their price objective on Tractor Supply from $62.00 to $59.00 and set a “neutral” rating for the company in a report on Friday, January 30th. Mizuho dropped their target price on shares of Tractor Supply from $65.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, January 30th. DA Davidson reiterated a “buy” rating and issued a $60.00 price target on shares of Tractor Supply in a research note on Friday, January 30th. Finally, Wolfe Research reissued an “outperform” rating and set a $57.00 price target on shares of Tractor Supply in a research report on Friday, January 30th. Fifteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $59.78.

Insider Transactions at Tractor Supply

In other news, CEO Harry A. Lawton III sold 84,670 shares of Tractor Supply stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $53.16, for a total transaction of $4,501,057.20. Following the transaction, the chief executive officer owned 606,842 shares in the company, valued at $32,259,720.72. This trade represents a 12.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Jonathan S. Estep sold 59,745 shares of the company’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $54.03, for a total value of $3,228,022.35. Following the completion of the sale, the executive vice president owned 80,931 shares of the company’s stock, valued at $4,372,701.93. This trade represents a 42.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 222,348 shares of company stock worth $11,959,621. 0.65% of the stock is currently owned by corporate insiders.

Tractor Supply Price Performance

Shares of NASDAQ:TSCO opened at $51.84 on Monday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.16 and a current ratio of 1.34. The firm has a market cap of $27.29 billion, a price-to-earnings ratio of 25.04, a price-to-earnings-growth ratio of 2.60 and a beta of 0.72. The business has a 50-day simple moving average of $52.40 and a two-hundred day simple moving average of $54.94. Tractor Supply Company has a fifty-two week low of $46.85 and a fifty-two week high of $63.99.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, January 29th. The specialty retailer reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.03). The company had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $4.03 billion. Tractor Supply had a return on equity of 44.36% and a net margin of 7.06%.The business’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.44 earnings per share. On average, analysts expect that Tractor Supply Company will post 2.17 earnings per share for the current year.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, February 24th. This is an increase from Tractor Supply’s previous quarterly dividend of $0.23. Tractor Supply’s payout ratio is currently 46.38%.

About Tractor Supply

Tractor Supply Company (NASDAQ: TSCO) is a specialty retailer focused on products for the home, farm, ranch and outdoors. The company operates a network of physical retail locations complemented by an e-commerce platform, offering a one-stop source of supplies and equipment for customers with rural and suburban lifestyles. Its merchandise assortment targets a range of needs, from animal and livestock care to maintenance, outdoor power equipment, and seasonal products.

Product categories include animal feed and supplies, pet products, fencing and fencing supplies, equine equipment, lawn and garden tools, work clothing and footwear, and small agricultural and outdoor power equipment.