Bank of New York Mellon Corp Decreases Stock Position in Tractor Supply Company (NASDAQ:TSCO)

Bank of New York Mellon Corp lowered its stake in Tractor Supply Company (NASDAQ:TSCO - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,844,052 shares of the specialty retailer's stock after selling 68,700 shares during the quarter. Bank of New York Mellon Corp owned about 0.72% of Tractor Supply worth $211,807,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. FORA Capital LLC raised its position in shares of Tractor Supply by 434.1% during the 4th quarter. FORA Capital LLC now owns 35,526 shares of the specialty retailer's stock valued at $1,885,000 after buying an additional 28,875 shares in the last quarter. Sowell Financial Services LLC grew its holdings in Tractor Supply by 49.3% during the 1st quarter. Sowell Financial Services LLC now owns 20,029 shares of the specialty retailer's stock valued at $1,104,000 after purchasing an additional 6,612 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in Tractor Supply by 9.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 112,233 shares of the specialty retailer's stock valued at $6,184,000 after purchasing an additional 9,483 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in Tractor Supply by 385.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,089,542 shares of the specialty retailer's stock valued at $59,260,000 after purchasing an additional 865,273 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Tractor Supply by 27.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 319,132 shares of the specialty retailer's stock valued at $17,584,000 after purchasing an additional 68,487 shares during the last quarter. Hedge funds and other institutional investors own 98.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Robert W. Baird cut their price target on shares of Tractor Supply from $63.00 to $56.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Citigroup dropped their target price on shares of Tractor Supply from $59.00 to $51.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. Raymond James Financial dropped their target price on shares of Tractor Supply from $61.00 to $57.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Stephens assumed coverage on shares of Tractor Supply in a research note on Wednesday, April 9th. They issued an "equal weight" rating and a $56.00 target price on the stock. Finally, Telsey Advisory Group set a $60.00 target price on shares of Tractor Supply in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Tractor Supply has a consensus rating of "Moderate Buy" and a consensus price target of $58.02.

Insider Activity at Tractor Supply

In related news, Director Denise L. Jackson sold 1,550 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $55.00, for a total transaction of $85,250.00. Following the completion of the sale, the director owned 39,918 shares of the company's stock, valued at $2,195,490. This represents a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Matthew L. Rubin sold 2,810 shares of the firm's 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 completion of the transaction, the senior vice president directly owned 29,722 shares of the company's stock, valued at approximately $1,538,410.72. This represents a 8.64% decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,990 shares of company stock valued at $3,232,086 over the last 90 days. Insiders own 0.65% of the company's stock.

Tractor Supply Trading Up 3.9%

NASDAQ:TSCO opened at $56.76 on Tuesday. Tractor Supply Company has a 52 week low of $46.85 and a 52 week high of $61.53. The firm has a 50 day moving average of $51.52 and a 200 day moving average of $53.00. 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 stock has a market capitalization of $30.09 billion, a price-to-earnings ratio of 28.18, a PEG ratio of 2.94 and a beta of 0.75.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its earnings results 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 for the quarter, compared to analysts' expectations of $3.55 billion. During the same period in the previous year, the company earned $1.83 EPS. The company's revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Tractor Supply Company will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were given a dividend of $0.23 per share. The ex-dividend date was Wednesday, May 28th. This represents a $0.92 dividend on an annualized basis and a yield of 1.62%. Tractor Supply's 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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