Commerce Bank Sells 5,077 Shares of Tractor Supply Company (NASDAQ:TSCO)

Key Points

• Commerce Bank reduced its stake in Tractor Supply Company by 3.2%, holding 154,136 shares valued at approximately $8.49 million.
• Tractor Supply recently reported earnings of $0.81 per share, exceeding analyst expectations of $0.80, with revenue up 4.5% year-over-year to $4.44 billion.
• Analysts have varied ratings on Tractor Supply, with some increasing target prices; the average consensus price target is $61.80 and the stock is generally rated as a "Moderate Buy".

Commerce Bank decreased its position in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) by 3.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 154,136 shares of the specialty retailer's stock after selling 5,077 shares during the quarter. Commerce Bank's holdings in Tractor Supply were worth $8,493,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Coppell Advisory Solutions LLC raised its position in shares of Tractor Supply by 944.4% during the 4th quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer's stock worth $25,000 after purchasing an additional 425 shares during the last quarter. GW&K Investment Management LLC grew its stake in shares of Tractor Supply by 89.3% during the 1st quarter. GW&K Investment Management LLC now owns 479 shares of the specialty retailer's stock valued at $26,000 after buying an additional 226 shares during the period. Dunhill Financial LLC grew its stake in shares of Tractor Supply by 325.8% during the 4th quarter. Dunhill Financial LLC now owns 511 shares of the specialty retailer's stock valued at $27,000 after buying an additional 391 shares during the period. Pacific Center for Financial Services boosted its position in Tractor Supply by 400.0% during the 4th quarter. Pacific Center for Financial Services now owns 550 shares of the specialty retailer's stock worth $29,000 after purchasing an additional 440 shares during the period. Finally, LRI Investments LLC boosted its position in Tractor Supply by 400.0% during the 4th quarter. LRI Investments LLC now owns 615 shares of the specialty retailer's stock worth $33,000 after purchasing an additional 492 shares during the period. Hedge funds and other institutional investors own 98.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TSCO. Mizuho cut their target price on shares of Tractor Supply from $62.00 to $58.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Stephens started coverage on shares of Tractor Supply in a report on Wednesday, April 9th. They issued an "equal weight" rating and a $56.00 price objective for the company. DA Davidson increased their price objective on shares of Tractor Supply from $65.00 to $70.00 and gave the company a "buy" rating in a report on Friday, July 25th. Wells Fargo & Company increased their target price on shares of Tractor Supply from $63.00 to $65.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Finally, Telsey Advisory Group set a $70.00 target price on shares of Tractor Supply in a research report on Friday, July 25th. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $61.80.

Insider Activity at Tractor Supply

In related news, EVP Colin Yankee sold 6,680 shares of the company's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $58.40, for a total value of $390,112.00. Following the transaction, the executive vice president directly owned 40,142 shares in the company, valued at approximately $2,344,292.80. This represents a 14.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Noni L. Ellison sold 5,200 shares of the stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $63.96, for a total transaction of $332,592.00. Following the transaction, the senior vice president owned 28,639 shares in the company, valued at $1,831,750.44. The trade was a 15.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 207,490 shares of company stock valued at $12,216,998 in the last quarter. 0.65% of the stock is currently owned by company insiders.

Tractor Supply Stock Down 0.4%

Shares of NASDAQ TSCO traded down $0.23 during trading on Wednesday, hitting $59.54. The stock had a trading volume of 294,909 shares, compared to its average volume of 5,646,104. Tractor Supply Company has a 12 month low of $46.85 and a 12 month high of $63.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.28 and a quick ratio of 0.16. The company has a market capitalization of $31.57 billion, a PE ratio of 29.19, a PEG ratio of 3.06 and a beta of 0.75. The firm has a fifty day moving average of $54.36 and a two-hundred day moving average of $53.60.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its earnings results on Thursday, July 24th. The specialty retailer reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.01. Tractor Supply had a net margin of 7.18% and a return on equity of 46.83%. The firm had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.40 billion. During the same quarter in the prior year, the business posted $3.93 EPS. The business's revenue was up 4.5% compared to the same quarter last year. As a group, equities research analysts forecast that Tractor Supply Company will post 2.17 EPS for the current fiscal year.

Tractor Supply Cuts Dividend

The company 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. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.92 annualized dividend and a yield of 1.5%. Tractor Supply's payout ratio is currently 45.10%.

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.