Massachusetts Financial Services Co. MA Sells 1,724,813 Shares of Tractor Supply Company (NASDAQ:TSCO)

Massachusetts Financial Services Co. MA reduced its stake in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) by 41.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,463,850 shares of the specialty retailer's stock after selling 1,724,813 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.46% of Tractor Supply worth $135,758,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in TSCO. Coppell Advisory Solutions LLC grew its stake in shares of Tractor Supply by 944.4% during the fourth quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer's stock valued at $25,000 after buying an additional 425 shares during the last quarter. Whittier Trust Co. grew its stake in shares of Tractor Supply by 400.0% during the fourth quarter. Whittier Trust Co. now owns 500 shares of the specialty retailer's stock valued at $27,000 after buying an additional 400 shares during the last quarter. Dunhill Financial LLC grew its stake in shares of Tractor Supply by 325.8% during the fourth 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 last quarter. Pacific Center for Financial Services grew its stake in shares of Tractor Supply by 400.0% during the fourth quarter. Pacific Center for Financial Services now owns 550 shares of the specialty retailer's stock valued at $29,000 after buying an additional 440 shares during the last quarter. Finally, LRI Investments LLC grew its stake in shares of Tractor Supply by 400.0% during the fourth quarter. LRI Investments LLC now owns 615 shares of the specialty retailer's stock valued at $33,000 after buying an additional 492 shares during the last quarter. 98.72% of the stock is owned by institutional investors.

Tractor Supply Stock Down 0.5%

Tractor Supply stock opened at $56.04 on Thursday. The business has a fifty day moving average of $52.39 and a two-hundred day moving average of $53.13. The company has a quick ratio of 0.17, a current ratio of 1.41 and a debt-to-equity ratio of 0.94. The firm has a market cap of $29.71 billion, a P/E ratio of 27.83, a P/E/G ratio of 3.03 and a beta of 0.75. Tractor Supply Company has a twelve month low of $46.85 and a twelve month high of $61.53.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.03). Tractor Supply had a net margin of 7.24% and a return on equity of 47.56%. The business had revenue of $3.47 billion for the quarter, compared to analysts' expectations of $3.55 billion. During the same quarter in the prior year, the company posted $1.83 EPS. The business's revenue for the quarter was up 2.1% on a year-over-year basis. On average, analysts forecast that Tractor Supply Company will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were issued 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 dividend yield of 1.64%. Tractor Supply's dividend payout ratio is presently 45.77%.

Insider Activity

In other news, SVP Matthew L. Rubin sold 2,810 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $51.76, for a total transaction of $145,445.60. Following the completion of the sale, the senior vice president owned 29,722 shares in the company, valued at approximately $1,538,410.72. This represents a 8.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Denise L. Jackson sold 2,000 shares of the stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $57.75, for a total value of $115,500.00. Following the sale, the director owned 32,288 shares of the company's stock, valued at approximately $1,864,632. This represents a 5.83% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,445 shares of company stock worth $5,669,742. Insiders own 0.65% of the company's stock.

Wall Street Analysts Forecast Growth

TSCO has been the topic of a number of analyst reports. Guggenheim cut their target price on Tractor Supply from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Telsey Advisory Group set a $60.00 price target on Tractor Supply in a report on Friday, April 25th. Citigroup lowered their price target on Tractor Supply from $59.00 to $51.00 and set a "neutral" rating for the company in a report on Friday, April 25th. Wells Fargo & Company boosted their price target on Tractor Supply from $60.00 to $63.00 and gave the company an "overweight" rating in a report on Tuesday. Finally, Mizuho lowered their price target on Tractor Supply from $62.00 to $58.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $57.95.

Tractor Supply 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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