Bank of New York Mellon Corp Sells 209,273 Shares of Tractor Supply Company $TSCO

Key Points

• Bank of New York Mellon reduced its Tractor Supply stake by 6.8% in the first quarter, selling 209,273 shares and leaving it with 2,868,626 shares worth about $129.9 million.
• Tractor Supply reported weaker-than-expected quarterly results, with EPS of $0.31 versus the $0.35 estimate and revenue of $3.59 billion versus $3.64 billion expected, though revenue still rose 3.6% year over year.
• The stock has attracted mixed analyst sentiment, with several recent price target cuts and an average consensus rating of “Hold”; the shares were last trading around $30.51, well below their 52-week high.

Bank of New York Mellon Corp lowered its holdings in Tractor Supply Company (NASDAQ:TSCO - Free Report) by 6.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,868,626 shares of the specialty retailer's stock after selling 209,273 shares during the quarter. Bank of New York Mellon Corp owned about 0.55% of Tractor Supply worth $129,949,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of TSCO. Garner Asset Management Corp acquired a new stake in shares of Tractor Supply in the 4th quarter worth about $25,000. Reflection Asset Management acquired a new position in Tractor Supply during the 4th quarter valued at about $26,000. Aventura Private Wealth LLC acquired a new position in Tractor Supply during the 4th quarter valued at about $27,000. Core Wealth Advisors LLC bought a new stake in Tractor Supply during the 4th quarter worth approximately $27,000. Finally, Bayban bought a new stake in Tractor Supply during the 4th quarter worth approximately $28,000. Institutional investors own 98.72% of the company's stock.

Tractor Supply Price Performance

NASDAQ TSCO opened at $30.51 on Monday. The company has a quick ratio of 0.16, a current ratio of 1.38 and a debt-to-equity ratio of 0.86. The company has a market cap of $16.00 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 2.35 and a beta of 0.46. Tractor Supply Company has a 52 week low of $28.36 and a 52 week high of $63.99. The firm's 50-day simple moving average is $30.65 and its two-hundred day simple moving average is $41.88.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The specialty retailer reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.04). The business had revenue of $3.59 billion for the quarter, compared to analysts' expectations of $3.64 billion. Tractor Supply had a net margin of 6.91% and a return on equity of 42.58%. The business's quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 earnings per share. Tractor Supply has set its FY 2026 guidance at 2.130-2.230 EPS. Research analysts predict that Tractor Supply Company will post 2.08 earnings per share for the current year.

Tractor Supply Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th were given a dividend of $0.24 per share. The ex-dividend date was Wednesday, May 27th. This represents a $0.96 annualized dividend and a dividend yield of 3.1%. Tractor Supply's dividend payout ratio is currently 47.06%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Weiss Ratings downgraded Tractor Supply from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, May 8th. Telsey Advisory Group decreased their price target on Tractor Supply from $52.00 to $40.00 and set an "outperform" rating for the company in a report on Tuesday, July 14th. Wolfe Research set a $34.00 price target on Tractor Supply in a report on Thursday. Bank of America assumed coverage on Tractor Supply in a research report on Tuesday, April 7th. They issued a "neutral" rating and a $47.00 price target for the company. Finally, Stephens dropped their price objective on Tractor Supply from $53.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 22nd. Thirteen research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $41.73.

About Tractor Supply

Tractor Supply Company NASDAQ: TSCO is a specialty retailer focused on products for the home, farm, ranch and outdoors. The company operates a network of physical retail locations complemented by an e-commerce platform, offering a one-stop source of supplies and equipment for customers with rural and suburban lifestyles. Its merchandise assortment targets a range of needs, from animal and livestock care to maintenance, outdoor power equipment, and seasonal products.

Product categories include animal feed and supplies, pet products, fencing and fencing supplies, equine equipment, lawn and garden tools, work clothing and footwear, and small agricultural and outdoor power equipment.

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