Patten & Patten Inc. TN Decreases Holdings in Tractor Supply Company $TSCO

Key Points

• Patten & Patten Inc. TN reduced its holdings in Tractor Supply Company by 2.7% during the second quarter, now owning 360,614 shares valued at approximately $19 million.
• Several hedge funds increased their stakes in Tractor Supply during the same period, with Uptick Partners lifting their stake by 47.3% and J.Safra Asset Management increasing its holdings by 8.4%.
• Analysts have raised their price targets for Tractor Supply, with UBS Group and Robert W. Baird both setting new targets of $61.00, contributing to a consensus target price of $62.45.

Patten & Patten Inc. TN cut its holdings in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) by 2.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 360,614 shares of the specialty retailer's stock after selling 9,937 shares during the quarter. Tractor Supply accounts for approximately 1.2% of Patten & Patten Inc. TN's holdings, making the stock its 16th biggest holding. Patten & Patten Inc. TN owned approximately 0.07% of Tractor Supply worth $19,030,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in TSCO. Uptick Partners LLC lifted its stake in Tractor Supply by 47.3% in the second quarter. Uptick Partners LLC now owns 5,523 shares of the specialty retailer's stock worth $291,000 after purchasing an additional 1,773 shares during the last quarter. Rosenberg Matthew Hamilton increased its holdings in shares of Tractor Supply by 6.3% in the second quarter. Rosenberg Matthew Hamilton now owns 6,533 shares of the specialty retailer's stock worth $345,000 after buying an additional 388 shares during the period. Mutual Advisors LLC increased its holdings in shares of Tractor Supply by 10.9% in the second quarter. Mutual Advisors LLC now owns 12,611 shares of the specialty retailer's stock worth $665,000 after buying an additional 1,241 shares during the period. JGP Wealth Management LLC lifted its stake in shares of Tractor Supply by 1.8% in the 2nd quarter. JGP Wealth Management LLC now owns 263,587 shares of the specialty retailer's stock valued at $13,909,000 after acquiring an additional 4,550 shares during the last quarter. Finally, J.Safra Asset Management Corp boosted its holdings in Tractor Supply by 8.4% during the 2nd quarter. J.Safra Asset Management Corp now owns 4,855 shares of the specialty retailer's stock valued at $251,000 after acquiring an additional 378 shares during the period. 98.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TSCO has been the topic of a number of analyst reports. Wall Street Zen raised Tractor Supply from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. UBS Group lifted their target price on shares of Tractor Supply from $54.00 to $61.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Robert W. Baird increased their price target on shares of Tractor Supply from $56.00 to $61.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Truist Financial raised their price target on shares of Tractor Supply from $60.00 to $66.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Finally, Piper Sandler upped their price objective on shares of Tractor Supply from $66.00 to $67.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Fifteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Tractor Supply has an average rating of "Moderate Buy" and a consensus target price of $62.45.

Insider Buying and Selling

In other Tractor Supply news, SVP Noni L. Ellison sold 5,200 shares of Tractor Supply stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $63.96, for a total transaction of $332,592.00. Following the completion of the transaction, the senior vice president owned 28,639 shares in the company, valued at approximately $1,831,750.44. The trade was a 15.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kurt D. Barton sold 90,000 shares of the stock in a transaction on 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 directly owned 47,715 shares in the company, valued at approximately $3,051,851.40. This represents a 65.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 103,045 shares of company stock valued at $6,547,257. 0.65% of the stock is owned by company insiders.

Tractor Supply Price Performance

TSCO opened at $55.81 on Thursday. The company has a current ratio of 1.28, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The company has a market cap of $29.58 billion, a price-to-earnings ratio of 27.38, a price-to-earnings-growth ratio of 2.84 and a beta of 0.73. The stock has a fifty day simple moving average of $58.81 and a two-hundred day simple moving average of $54.95. Tractor Supply Company has a 12-month low of $46.85 and a 12-month high of $63.99.

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, topping analysts' consensus estimates of $0.80 by $0.01. The firm had revenue of $4.44 billion for 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 company's revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.93 EPS. Tractor Supply has set its Q3 2025 guidance at 2.000-2.180 EPS. Research analysts predict that Tractor Supply Company will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Monday, August 25th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Monday, August 25th. Tractor Supply's dividend payout ratio (DPR) is presently 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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