Tractor Supply (NASDAQ:TSCO) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in Tractor Supply (NASDAQ:TSCO) by 80.3% in the second quarter, HoldingsChannel reports. The fund owned 6,619 shares of the specialty retailer’s stock after selling 26,972 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Tractor Supply were worth $1,787,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Tractor Supply by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 12,804,873 shares of the specialty retailer’s stock worth $2,753,432,000 after purchasing an additional 48,439 shares in the last quarter. Capital International Investors boosted its stake in Tractor Supply by 7.6% during the 4th quarter. Capital International Investors now owns 6,233,852 shares of the specialty retailer’s stock valued at $1,340,589,000 after purchasing an additional 439,954 shares in the last quarter. Capital World Investors increased its position in shares of Tractor Supply by 10.0% during the 4th quarter. Capital World Investors now owns 5,849,188 shares of the specialty retailer’s stock valued at $1,257,751,000 after purchasing an additional 531,170 shares during the period. Wellington Management Group LLP raised its stake in shares of Tractor Supply by 63.2% in the 4th quarter. Wellington Management Group LLP now owns 4,606,455 shares of the specialty retailer’s stock worth $990,526,000 after buying an additional 1,784,304 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Tractor Supply by 12.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,330,621 shares of the specialty retailer’s stock valued at $871,691,000 after buying an additional 368,859 shares during the period. 98.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on TSCO shares. Evercore ISI lowered their target price on 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 issued a $270.00 price objective on shares of Tractor Supply in a research note on Friday, July 26th. Benchmark reiterated a “buy” rating and issued a $280.00 target price on shares of Tractor Supply in a report on Friday, July 26th. Telsey Advisory Group restated an “outperform” rating and set a $305.00 target price on shares of Tractor Supply in a report on Thursday, July 25th. Finally, Truist Financial upped their price target on Tractor Supply from $289.00 to $293.00 and gave the company a “buy” rating in a report on Friday, July 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $256.58.

Insider Activity at Tractor Supply

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

Tractor Supply Price Performance

Shares of TSCO opened at $268.35 on Wednesday. The business’s 50-day moving average is $265.13 and its 200-day moving average is $264.17. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.43 and a quick ratio of 0.25. The company has a market capitalization of $28.95 billion, a price-to-earnings ratio of 26.13, a P/E/G ratio of 3.36 and a beta of 0.80. Tractor Supply has a fifty-two week low of $185.00 and a fifty-two week high of $290.38.

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 the consensus estimate of $3.93. Tractor Supply had a net margin of 7.65% and a return on equity of 51.84%. The firm had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same quarter in the prior year, the business earned $3.83 EPS. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. Equities research analysts expect that Tractor Supply will post 10.23 EPS for the current fiscal year.

Tractor Supply Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 26th will be issued a dividend of $1.10 per share. The ex-dividend date is Monday, August 26th. This represents a $4.40 annualized dividend and a dividend yield of 1.64%. Tractor Supply’s dividend payout ratio is 42.84%.

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.