Allianz Asset Management GmbH Sells 113,199 Shares of Tractor Supply Company (NASDAQ:TSCO)

Allianz Asset Management GmbH decreased its position in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) by 11.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 843,521 shares of the specialty retailer's stock after selling 113,199 shares during the quarter. Allianz Asset Management GmbH owned about 0.16% of Tractor Supply worth $46,478,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Lindbrook Capital LLC increased its holdings in Tractor Supply by 57.8% during the 1st quarter. Lindbrook Capital LLC now owns 3,566 shares of the specialty retailer's stock worth $196,000 after purchasing an additional 1,306 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in Tractor Supply by 3.6% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 41,240 shares of the specialty retailer's stock worth $2,273,000 after buying an additional 1,435 shares in the last quarter. Kestra Private Wealth Services LLC grew its holdings in Tractor Supply by 4.4% during the first quarter. Kestra Private Wealth Services LLC now owns 112,838 shares of the specialty retailer's stock worth $6,217,000 after buying an additional 4,735 shares in the last quarter. Buckhead Capital Management LLC grew its stake in shares of Tractor Supply by 2.0% in the 1st quarter. Buckhead Capital Management LLC now owns 24,976 shares of the specialty retailer's stock worth $1,376,000 after acquiring an additional 501 shares in the last quarter. Finally, Private Advisor Group LLC grew its stake in shares of Tractor Supply by 11.8% in the 1st quarter. Private Advisor Group LLC now owns 55,958 shares of the specialty retailer's stock worth $3,083,000 after acquiring an additional 5,887 shares in the last quarter. Institutional investors own 98.72% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Tractor Supply from $60.00 to $63.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Piper Sandler upped their target price on Tractor Supply from $60.00 to $66.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Robert W. Baird upped their price objective on Tractor Supply from $56.00 to $61.00 and gave the company an "outperform" rating in a research note on Monday. UBS Group set a $54.00 price objective on Tractor Supply in a research note on Friday, April 25th. Finally, Guggenheim reduced their price target on shares of Tractor Supply from $60.00 to $55.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Tractor Supply presently has a consensus rating of "Moderate Buy" and a consensus target price of $58.65.

Insider Activity at Tractor Supply

In other Tractor Supply news, Director Denise L. Jackson sold 2,000 shares of Tractor Supply stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $57.75, for a total transaction of $115,500.00. Following the completion of the sale, the director directly owned 32,288 shares in the company, valued at $1,864,632. The trade was a 5.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Matthew L. Rubin sold 2,810 shares of Tractor Supply stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $51.76, for a total transaction of $145,445.60. Following the sale, the senior vice president directly owned 29,722 shares of the company's stock, valued at $1,538,410.72. This represents a 8.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 104,445 shares of company stock valued at $5,669,742. Company insiders own 0.65% of the company's stock.

Tractor Supply Stock Up 2.7%

Shares of NASDAQ TSCO opened at $58.98 on Wednesday. Tractor Supply Company has a 52 week low of $46.85 and a 52 week high of $61.53. The business has a 50-day simple moving average of $52.61 and a two-hundred day simple moving average of $53.19. The company has a quick ratio of 0.17, a current ratio of 1.41 and a debt-to-equity ratio of 0.94. The company has a market cap of $31.27 billion, a P/E ratio of 29.29, a P/E/G ratio of 3.09 and a beta of 0.75.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.03). Tractor Supply had a net margin of 7.24% and a return on equity of 47.56%. The firm had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter last year, the business posted $1.83 earnings per share. Tractor Supply's revenue was up 2.1% compared to the same quarter last year. Research analysts anticipate that Tractor Supply Company will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.56%. The ex-dividend date was Wednesday, May 28th. Tractor Supply's dividend payout ratio is 45.77%.

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.

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