Dimensional Fund Advisors LP Sells 86,361 Shares of Tractor Supply Company (NASDAQ:TSCO)

Key Points

• Dimensional Fund Advisors LP reduced its stake in Tractor Supply Company by 1.5%, selling 86,361 shares and now holds approximately 5.85 million shares worth $322.29 million.
• Institutional investors own 98.72% of Tractor Supply's stock, with Vanguard Group increasing its position by 4.1% during the first quarter.
• Tractor Supply announced a $0.23 quarterly dividend to be paid on September 9th, with a current annualized dividend yield of 1.5%.

Dimensional Fund Advisors LP cut its holdings in Tractor Supply Company (NASDAQ:TSCO - Free Report) by 1.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,849,890 shares of the specialty retailer's stock after selling 86,361 shares during the quarter. Dimensional Fund Advisors LP owned about 1.10% of Tractor Supply worth $322,291,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted 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 valued at $3,671,391,000 after acquiring an additional 2,597,450 shares during the last quarter. Capital World Investors boosted 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 valued at $1,031,122,000 after acquiring an additional 15,575,311 shares during the last quarter. Capital International Investors boosted 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 valued at $818,421,000 after acquiring an additional 11,880,010 shares during the last quarter. Price T Rowe Associates Inc. MD boosted 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 valued at $552,735,000 after acquiring an additional 7,729,628 shares during the last quarter. Finally, Stifel Financial Corp boosted its stake 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 valued at $436,899,000 after acquiring an additional 6,582,562 shares during the last quarter. 98.72% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, SVP Noni L. Ellison sold 5,200 shares of Tractor Supply stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $63.96, for a total value of $332,592.00. Following the completion of the transaction, the senior vice president owned 28,639 shares of the company's stock, valued at $1,831,750.44. This trade represents a 15.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Colin Yankee sold 6,680 shares of Tractor Supply stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $58.40, for a total transaction of $390,112.00. Following the completion of the transaction, the executive vice president directly owned 40,142 shares of the company's stock, valued at approximately $2,344,292.80. This trade represents a 14.27% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 204,680 shares of company stock worth $12,071,552. Corporate insiders own 0.65% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on TSCO. DA Davidson increased their target price on shares of Tractor Supply from $65.00 to $70.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Evercore ISI increased their target price on shares of Tractor Supply from $60.00 to $65.00 and gave the stock an "in-line" rating in a report on Friday, July 25th. Raymond James Financial reiterated an "outperform" rating and issued a $65.00 target price (up from $57.00) on shares of Tractor Supply in a report on Friday, July 25th. JPMorgan Chase & Co. increased their target price on shares of Tractor Supply from $56.00 to $65.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Finally, Guggenheim cut their target price on shares of Tractor Supply from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Tractor Supply currently has a consensus rating of "Moderate Buy" and a consensus target price of $61.80.

Tractor Supply Stock Up 1.3%

Tractor Supply stock opened at $60.49 on Friday. The company has a market cap of $32.06 billion, a P/E ratio of 29.68, a price-to-earnings-growth ratio of 3.11 and a beta of 0.75. Tractor Supply Company has a 1-year low of $46.85 and a 1-year high of $63.99. The company has a fifty day simple moving average of $56.02 and a 200 day simple moving average of $53.76. The company has a current ratio of 1.28, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last released 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. The business had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.40 billion. Tractor Supply had a net margin of 7.18% and a return on equity of 46.83%. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm earned $3.93 earnings per share. Research analysts anticipate that Tractor Supply Company will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Monday, August 25th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, August 25th. Tractor Supply's dividend payout ratio (DPR) is 45.10%.

Tractor Supply Company Profile

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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