Ethic Inc. Sells 4,450 Shares of Tractor Supply Company (NASDAQ:TSCO)

Key Points

• Ethic Inc. reduced its stake in Tractor Supply Company by 5.2%, selling 4,450 shares and now holding 81,543 shares valued at approximately $4.5 million.
• Tractor Supply's recent quarterly earnings showed a profit of $0.81 per share, slightly exceeding analyst expectations, along with a year-over-year revenue increase of 4.5% to $4.44 billion.
• Institutional investors own 98.72% of Tractor Supply's stock, with various companies showing varying changes in their holdings during the first quarter of 2023.

Ethic Inc. trimmed its stake in Tractor Supply Company (NASDAQ:TSCO - Free Report) by 5.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 81,543 shares of the specialty retailer's stock after selling 4,450 shares during the period. Ethic Inc.'s holdings in Tractor Supply were worth $4,495,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its holdings in Tractor Supply by 6.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 9,520 shares of the specialty retailer's stock valued at $525,000 after buying an additional 554 shares during the last quarter. Horizon Investments LLC grew its holdings in Tractor Supply by 8.1% in the 1st quarter. Horizon Investments LLC now owns 10,178 shares of the specialty retailer's stock valued at $561,000 after buying an additional 760 shares during the last quarter. Vestmark Advisory Solutions Inc. acquired a new stake in Tractor Supply in the 1st quarter valued at approximately $423,000. Financial Network Wealth Advisors LLC grew its holdings in Tractor Supply by 34.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 2,229 shares of the specialty retailer's stock valued at $123,000 after buying an additional 574 shares during the last quarter. Finally, National Pension Service grew its holdings in Tractor Supply by 10.3% in the 1st quarter. National Pension Service now owns 825,583 shares of the specialty retailer's stock valued at $45,490,000 after buying an additional 77,353 shares during the last quarter. 98.72% of the stock is owned by institutional investors.

Tractor Supply Price Performance

Shares of TSCO stock opened at $60.49 on Friday. The stock's fifty day simple moving average is $56.02 and its 200 day simple moving average is $53.76. 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 firm has a market cap of $32.06 billion, a price-to-earnings ratio of 29.68, a P/E/G ratio of 3.11 and a beta of 0.75. Tractor Supply Company has a one year low of $46.85 and a one year high of $63.99.

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

Tractor Supply Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Monday, August 25th will be issued 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 payout ratio is currently 45.10%.

Insiders Place Their Bets

In related news, Director Denise L. Jackson sold 4,630 shares of Tractor Supply stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $55.93, for a total value of $258,955.90. Following the completion of the transaction, the director directly owned 35,288 shares of the company's stock, valued at $1,973,657.84. The trade was a 11.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 value 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 $2,344,292.80. This represents a 14.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 204,680 shares of company stock valued at $12,071,552 over the last three months. Company insiders own 0.65% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on TSCO. Loop Capital raised their target price on Tractor Supply from $48.00 to $60.00 and gave the company a "hold" rating in a report on Friday, July 25th. JPMorgan Chase & Co. raised their target price on Tractor Supply from $56.00 to $65.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Citigroup lowered 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. Robert W. Baird raised their target price on Tractor Supply from $56.00 to $61.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Finally, Piper Sandler lifted their price objective on Tractor Supply from $66.00 to $67.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Tractor Supply presently has an average rating of "Moderate Buy" and a consensus price target of $61.80.

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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