Sheaff Brock Investment Advisors LLC Lowers Holdings in Tractor Supply Company (NASDAQ:TSCO)

Key Points

• Sheaff Brock Investment Advisors LLC reduced its holdings in Tractor Supply Company (NASDAQ:TSCO) by 20.6%, now owning 40,092 shares worth approximately $2.21 million.
• Hedge funds significantly increased their positions in Tractor Supply, with Wellington Management Group lifting its stake by 401.8% and Capital World Investors by 403.7% during the last quarter.
• Tractor Supply reported $4.44 billion in revenue for the last quarter, surpassing analysts' expectations and reflecting a 4.5% increase year-over-year.

Sheaff Brock Investment Advisors LLC reduced its position in Tractor Supply Company (NASDAQ:TSCO - Free Report) by 20.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,092 shares of the specialty retailer's stock after selling 10,419 shares during the period. Sheaff Brock Investment Advisors LLC's holdings in Tractor Supply were worth $2,209,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TSCO. Wellington Management Group LLP lifted its position in shares of Tractor Supply by 401.8% in the fourth quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer's stock worth $1,262,258,000 after buying an additional 19,048,385 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Tractor Supply by 403.3% in the fourth quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer's stock worth $1,180,932,000 after buying an additional 17,834,643 shares in the last quarter. Capital World Investors lifted its position in shares of 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 buying an additional 15,575,311 shares in the last quarter. Capital International Investors lifted its position in shares of 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 buying an additional 11,880,010 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Tractor Supply by 403.2% in the fourth quarter. Geode Capital Management LLC now owns 14,519,937 shares of the specialty retailer's stock worth $768,838,000 after buying an additional 11,634,249 shares in the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Tractor Supply news, SVP Matthew L. Rubin sold 2,810 shares of the company's 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 $1,538,410.72. This represents a 8.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jonathan S. Estep sold 35,825 shares of the company's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $56.00, for a total value of $2,006,200.00. Following the sale, the executive vice president owned 74,605 shares of the company's stock, valued at approximately $4,177,880. This represents a 32.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 105,610 shares of company stock worth $5,737,894 over the last 90 days. Company insiders own 0.65% of the company's stock.

Tractor Supply Stock Down 0.0%

Shares of NASDAQ:TSCO opened at $59.33 on Monday. Tractor Supply Company has a 52-week low of $46.85 and a 52-week high of $63.99. The stock has a market cap of $31.46 billion, a P/E ratio of 29.11, a price-to-earnings-growth ratio of 3.06 and a beta of 0.75. The business's 50 day moving average is $53.27 and its 200 day moving average is $53.38. The company has a quick ratio of 0.16, a current ratio of 1.28 and a debt-to-equity ratio of 0.68.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The specialty retailer reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $4.40 billion. During the same quarter in the prior year, the firm earned $3.93 earnings per share. Tractor Supply's revenue was up 4.5% compared to the same quarter last year. Sell-side analysts predict that Tractor Supply Company will post 2.17 EPS for the current year.

Tractor Supply Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were issued a dividend of $0.23 per share. The ex-dividend date was Wednesday, May 28th. This represents a $0.92 dividend on an annualized basis and a yield of 1.55%. Tractor Supply's dividend payout ratio is currently 45.10%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on TSCO shares. 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 research report on Friday. Mizuho reduced their price objective on Tractor Supply from $62.00 to $58.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Citigroup reduced their price objective on Tractor Supply from $59.00 to $51.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. Truist Financial boosted their price objective on Tractor Supply from $60.00 to $66.00 and gave the stock a "buy" rating in a research note on Friday. Finally, DA Davidson boosted their price objective on Tractor Supply from $65.00 to $70.00 and gave the stock a "buy" rating in a research note on Friday. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Tractor Supply currently has an average rating of "Moderate Buy" and an average price target of $61.30.

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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