Deutsche Bank AG Trims Position in Tractor Supply Company (NASDAQ:TSCO)

Key Points

• Deutsche Bank AG has reduced its stake in Tractor Supply Company by 21.8%, now holding 2,092,913 shares valued at approximately $115.3 million.
• Despite the reduction by Deutsche Bank, several other hedge funds have increased their holdings significantly, with Vanguard Group Inc. growing its stake by 4.1% in the first quarter.
• Tractor Supply recently declared a quarterly dividend of $0.23 per share, reflecting an annual yield of 1.6%, with a dividend payout ratio of 45.10%.

Deutsche Bank AG cut its holdings in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) by 21.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,092,913 shares of the specialty retailer's stock after selling 583,902 shares during the period. Deutsche Bank AG owned 0.39% of Tractor Supply worth $115,320,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Tractor Supply by 4.1% in the first quarter. Vanguard Group Inc. now owns 66,631,422 shares of the specialty retailer's stock worth $3,671,391,000 after purchasing an additional 2,597,450 shares during the period. Capital World Investors grew its stake in Tractor Supply by 403.7% in the fourth quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer's stock worth $1,031,122,000 after purchasing an additional 15,575,311 shares during the period. Capital International Investors grew its stake in Tractor Supply by 334.7% in the fourth quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer's stock worth $818,421,000 after purchasing an additional 11,880,010 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Tractor Supply by 287.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,417,152 shares of the specialty retailer's stock worth $552,735,000 after purchasing an additional 7,729,628 shares during the period. Finally, Stifel Financial Corp boosted its holdings in Tractor Supply by 398.6% in the fourth quarter. Stifel Financial Corp now owns 8,233,999 shares of the specialty retailer's stock worth $436,899,000 after acquiring an additional 6,582,562 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Tractor Supply Stock Down 1.3%

TSCO stock opened at $59.26 on Friday. Tractor Supply Company has a fifty-two week low of $46.85 and a fifty-two week high of $63.99. The business's 50-day moving average is $55.02 and its two-hundred day moving average is $53.68. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 1.28. The company has a market cap of $31.42 billion, a price-to-earnings ratio of 29.08, a P/E/G ratio of 3.05 and a beta of 0.75.

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 for the quarter, beating analysts' consensus estimates of $0.80 by $0.01. Tractor Supply had a return on equity of 46.83% and a net margin of 7.18%. The company had revenue of $4.44 billion for the quarter, compared to the consensus estimate of $4.40 billion. During the same quarter in the prior year, the company earned $3.93 earnings per share. Tractor Supply's revenue was up 4.5% on a year-over-year basis. As a group, analysts forecast that Tractor Supply Company will post 2.17 earnings per share for the current year.

Tractor Supply Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Monday, August 25th will be given a $0.23 dividend. The ex-dividend date is Monday, August 25th. This represents a $0.92 dividend on an annualized basis and a yield of 1.6%. Tractor Supply's dividend payout ratio is presently 45.10%.

Wall Street Analyst Weigh In

TSCO has been the topic of several analyst reports. UBS Group boosted their target price on Tractor Supply from $54.00 to $61.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Citigroup dropped their target price on Tractor Supply from $59.00 to $51.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. Telsey Advisory Group set a $70.00 target price on Tractor Supply in a report on Friday, July 25th. Guggenheim dropped their target price on Tractor Supply from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Finally, Evercore ISI boosted their target price on Tractor Supply from $60.00 to $65.00 and gave the stock an "in-line" rating in a report on Friday, July 25th. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Tractor Supply presently has an average rating of "Moderate Buy" and a consensus price target of $61.80.

Insiders Place Their Bets

In other Tractor Supply news, SVP Noni L. Ellison sold 5,200 shares of the company's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $63.96, for a total value of $332,592.00. Following the completion of the sale, the senior vice president owned 28,639 shares in the company, valued at $1,831,750.44. This represents a 15.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Kurt D. Barton sold 90,000 shares of the company's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $63.96, for a total value of $5,756,400.00. Following the completion of the sale, the chief financial officer owned 47,715 shares of the company's stock, valued at approximately $3,051,851.40. The trade was a 65.35% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 207,490 shares of company stock valued at $12,216,998. 0.65% of the stock is currently owned by corporate insiders.

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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