FORA Capital LLC Lowers Position in Tractor Supply (NASDAQ:TSCO)

FORA Capital LLC cut its stake in shares of Tractor Supply (NASDAQ:TSCO) by 2.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 6,651 shares of the specialty retailer’s stock after selling 180 shares during the period. FORA Capital LLC’s holdings in Tractor Supply were worth $1,935,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of TSCO. Marshall Wace LLP raised its holdings in shares of Tractor Supply by 2,921.4% in the second quarter. Marshall Wace LLP now owns 357,225 shares of the specialty retailer’s stock valued at $96,451,000 after purchasing an additional 345,402 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Tractor Supply by 29,058.6% in the third quarter. International Assets Investment Management LLC now owns 233,269 shares of the specialty retailer’s stock valued at $67,865,000 after purchasing an additional 232,469 shares during the last quarter. Clearbridge Investments LLC grew its holdings in Tractor Supply by 67.4% during the second quarter. Clearbridge Investments LLC now owns 403,710 shares of the specialty retailer’s stock valued at $109,002,000 after purchasing an additional 162,533 shares during the period. Employees Retirement System of Texas purchased a new stake in Tractor Supply in the second quarter worth $38,070,000. Finally, Swedbank AB purchased a new stake in Tractor Supply in the first quarter worth $34,262,000. 98.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TSCO has been the subject of several research reports. Telsey Advisory Group reiterated an “outperform” rating and set a $335.00 price target on shares of Tractor Supply in a research note on Thursday, October 24th. Wedbush reissued a “neutral” rating and issued a $270.00 price target on shares of Tractor Supply in a research report on Friday, October 25th. Raymond James upped their price target on shares of Tractor Supply from $285.00 to $290.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Truist Financial reduced their price objective on shares of Tractor Supply from $325.00 to $317.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Finally, Loop Capital increased their target price on Tractor Supply from $250.00 to $260.00 and gave the stock a “hold” rating in a research report on Friday, September 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $282.59.

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 value of $6,957,000.48. Following the completion of the sale, the chief financial officer now owns 9,683 shares in the company, valued at $2,862,682.12. The trade was a 70.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.58% of the company’s stock.

Tractor Supply Stock Performance

NASDAQ TSCO opened at $281.96 on Thursday. Tractor Supply has a 52-week low of $197.00 and a 52-week high of $307.64. The company has a fifty day moving average of $284.30 and a 200-day moving average of $275.74. The company has a market capitalization of $30.12 billion, a P/E ratio of 27.43, a P/E/G ratio of 3.59 and a beta of 0.82. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.17 and a current ratio of 1.48.

Tractor Supply Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Monday, November 25th. Tractor Supply’s dividend payout ratio (DPR) is currently 42.80%.

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.