Barings LLC Reduces Stake in Tractor Supply (NASDAQ:TSCO)

Barings LLC lowered its stake in shares of Tractor Supply (NASDAQ:TSCO) by 39.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,944 shares of the specialty retailer’s stock after selling 7,890 shares during the period. Barings LLC’s holdings in Tractor Supply were worth $3,225,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Private Advisor Group LLC lifted its holdings in Tractor Supply by 44.6% during the fourth quarter. Private Advisor Group LLC now owns 6,527 shares of the specialty retailer’s stock valued at $1,403,000 after purchasing an additional 2,014 shares during the last quarter. Principal Securities Inc. bought a new position in Tractor Supply in the 4th quarter worth approximately $421,000. NBC Securities Inc. boosted its holdings in Tractor Supply by 41.5% in the 4th quarter. NBC Securities Inc. now owns 498 shares of the specialty retailer’s stock worth $107,000 after buying an additional 146 shares during the period. Dimensional Fund Advisors LP grew its stake in Tractor Supply by 5.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,052,533 shares of the specialty retailer’s stock valued at $226,330,000 after buying an additional 51,489 shares in the last quarter. Finally, Avantax Advisory Services Inc. raised its holdings in Tractor Supply by 1.9% during the 4th quarter. Avantax Advisory Services Inc. now owns 5,056 shares of the specialty retailer’s stock valued at $1,087,000 after acquiring an additional 95 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TSCO. Wells Fargo & Company lifted their price target on Tractor Supply from $285.00 to $295.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. Evercore ISI lowered their price target on shares of Tractor Supply from $290.00 to $280.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Wedbush reaffirmed a “neutral” rating and set a $270.00 price objective on shares of Tractor Supply in a research note on Friday, July 26th. Loop Capital increased their target price on shares of Tractor Supply from $250.00 to $260.00 and gave the stock a “hold” rating in a research note on Friday, September 6th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $305.00 price target on shares of Tractor Supply in a research report on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Tractor Supply has a consensus rating of “Hold” and an average price target of $256.72.

Insider Activity

In other news, SVP Matthew L. Rubin sold 540 shares of Tractor Supply stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $262.35, for a total value of $141,669.00. Following the sale, the senior vice president now directly owns 5,170 shares in the company, valued at approximately $1,356,349.50. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.24% of the company’s stock.

Tractor Supply Trading Up 2.0 %

NASDAQ TSCO opened at $276.25 on Thursday. The stock has a 50-day moving average of $265.80 and a 200-day moving average of $265.42. The company has a current ratio of 1.43, a quick ratio of 0.25 and a debt-to-equity ratio of 0.76. Tractor Supply has a 1-year low of $185.00 and a 1-year high of $290.38. The firm has a market cap of $29.80 billion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 3.40 and a beta of 0.80.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $3.93. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The firm had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.28 billion. During the same quarter in the prior year, the firm posted $3.83 earnings per share. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Tractor Supply will post 10.23 EPS for the current year.

Tractor Supply Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend was Monday, August 26th. Tractor Supply’s dividend payout ratio (DPR) is 42.84%.

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.