Van ECK Associates Corp Reduces Holdings in Tractor Supply (NASDAQ:TSCO)

Van ECK Associates Corp lowered its position in shares of Tractor Supply (NASDAQ:TSCO) by 4.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,087 shares of the specialty retailer’s stock after selling 1,681 shares during the period. Van ECK Associates Corp’s holdings in Tractor Supply were worth $7,330,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in TSCO. Wellington Management Group LLP raised its stake in shares of Tractor Supply by 9,370.6% during the third quarter. Wellington Management Group LLP now owns 2,822,151 shares of the specialty retailer’s stock valued at $573,038,000 after purchasing an additional 2,792,352 shares during the period. Invesco Ltd. raised its stake in shares of Tractor Supply by 76.7% during the third quarter. Invesco Ltd. now owns 2,024,182 shares of the specialty retailer’s stock valued at $411,010,000 after purchasing an additional 878,874 shares during the period. Alecta Tjanstepension Omsesidigt grew its position in shares of Tractor Supply by 87.5% during the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 750,000 shares of the specialty retailer’s stock worth $161,272,000 after buying an additional 350,000 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Tractor Supply by 32,987.5% during the fourth quarter. International Assets Investment Management LLC now owns 270,325 shares of the specialty retailer’s stock worth $58,128,000 after buying an additional 269,508 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of Tractor Supply by 22.4% during the third quarter. Envestnet Asset Management Inc. now owns 1,148,340 shares of the specialty retailer’s stock worth $233,170,000 after buying an additional 210,131 shares in the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Insider Buying and Selling

In other Tractor Supply news, CFO Kurt D. Barton sold 4,335 shares of Tractor Supply stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $257.00, for a total value of $1,114,095.00. Following 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 document filed with the SEC, which is available at this link. In other Tractor Supply news, EVP Colin Yankee sold 8,675 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $250.00, for a total value of $2,168,750.00. Following the completion of the transaction, the executive vice president now directly owns 9,673 shares in the company, valued at $2,418,250. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Kurt D. Barton sold 4,335 shares of Tractor Supply stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the completion of the transaction, the chief financial officer now directly owns 20,678 shares in the company, valued at $5,314,246. The disclosure for this sale can be found here. Insiders have sold 90,090 shares of company stock worth $21,201,877 in the last ninety days. 0.24% of the stock is currently owned by corporate insiders.

Tractor Supply Stock Performance

Shares of NASDAQ TSCO opened at $270.21 on Friday. Tractor Supply has a 1 year low of $185.00 and a 1 year high of $279.38. The firm has a market cap of $29.16 billion, a P/E ratio of 26.31, a PEG ratio of 3.36 and a beta of 0.82. The stock has a fifty day moving average price of $255.26 and a two-hundred day moving average price of $228.55. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.19 and a current ratio of 1.40.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings data on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.13. The business had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.40 billion. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The company’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.65 earnings per share. Research analysts forecast that Tractor Supply will post 10.3 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were paid a $1.10 dividend. The ex-dividend date was Friday, February 23rd. This represents a $4.40 annualized dividend and a dividend yield of 1.63%. This is a boost from Tractor Supply’s previous quarterly dividend of $1.03. Tractor Supply’s payout ratio is currently 42.84%.

Analyst Ratings Changes

TSCO has been the subject of a number of recent analyst reports. Robert W. Baird raised their price target on shares of Tractor Supply from $260.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. JPMorgan Chase & Co. raised their price target on shares of Tractor Supply from $241.00 to $263.00 and gave the stock a “neutral” rating in a research report on Friday. Truist Financial raised their price target 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. Wells Fargo & Company raised their price target on shares of Tractor Supply from $250.00 to $285.00 and gave the stock an “overweight” rating in a research report on Monday, March 25th. Finally, Mizuho reaffirmed a “neutral” rating and issued a $250.00 price objective (up previously from $245.00) on shares of Tractor Supply in a report on Friday, April 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $253.54.

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.