Tractor Supply Company (NASDAQ:TSCO) Shares Sold by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB reduced its holdings in Tractor Supply Company (NASDAQ:TSCO) by 20.6% during the first quarter, bringing their total shares to 91,102, valued at approximately $5 million.
• Institutional investors have been actively buying TSCO shares, with Wellington Management Group increasing its stake by 401.8%, now owning over 23 million shares worth about $1.26 billion.
• Analyst ratings for Tractor Supply have seen positive adjustments, with multiple firms raising their target prices, reflecting a consensus target price of $61.30 and a rating of "Moderate Buy."

Skandinaviska Enskilda Banken AB publ cut its stake in Tractor Supply Company (NASDAQ:TSCO - Free Report) by 20.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 91,102 shares of the specialty retailer's stock after selling 23,643 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Tractor Supply were worth $5,019,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in TSCO. Wellington Management Group LLP grew its holdings in Tractor Supply by 401.8% during the 4th quarter. Wellington Management Group LLP now owns 23,789,249 shares of the specialty retailer's stock worth $1,262,258,000 after acquiring an additional 19,048,385 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Tractor Supply by 403.3% during the 4th quarter. Alliancebernstein L.P. now owns 22,256,534 shares of the specialty retailer's stock worth $1,180,932,000 after acquiring an additional 17,834,643 shares in the last quarter. Capital World Investors grew its holdings in Tractor Supply by 403.7% during the 4th quarter. Capital World Investors now owns 19,433,135 shares of the specialty retailer's stock worth $1,031,122,000 after acquiring an additional 15,575,311 shares in the last quarter. Capital International Investors grew its holdings in Tractor Supply by 334.7% during the 4th quarter. Capital International Investors now owns 15,429,288 shares of the specialty retailer's stock worth $818,421,000 after acquiring an additional 11,880,010 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Tractor Supply by 403.2% during the 4th quarter. Geode Capital Management LLC now owns 14,519,937 shares of the specialty retailer's stock worth $768,838,000 after acquiring an additional 11,634,249 shares in the last quarter. 98.72% of the stock is currently owned by institutional investors.

Insider Activity at Tractor Supply

In other news, EVP Jonathan S. Estep sold 56,630 shares of Tractor Supply stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $53.00, for a total transaction of $3,001,390.00. Following the completion of the transaction, the executive vice president directly owned 74,605 shares of the company's stock, valued at $3,954,065. The trade was a 43.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kurt D. Barton sold 90,000 shares of Tractor Supply stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $63.96, for a total transaction of $5,756,400.00. Following the transaction, the chief financial officer directly owned 47,715 shares of the company's stock, valued at approximately $3,051,851.40. This trade represents a 65.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 207,490 shares of company stock worth $12,216,998 in the last ninety days. 0.65% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on TSCO shares. UBS Group increased their target price on shares of Tractor Supply from $54.00 to $61.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Bank of America raised shares of Tractor Supply from an "underperform" rating to a "buy" rating and set a $70.00 price target for the company in a research report on Thursday, July 24th. Stephens started coverage on shares of Tractor Supply in a research report on Wednesday, April 9th. They set an "equal weight" rating and a $56.00 price target for the company. Piper Sandler increased their price target on shares of Tractor Supply from $66.00 to $67.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Finally, Citigroup decreased their price target on shares of Tractor Supply from $59.00 to $51.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Tractor Supply currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.80.

Tractor Supply Stock Performance

TSCO traded down $0.10 during trading on Thursday, reaching $57.73. 1,263,298 shares of the company's stock were exchanged, compared to its average volume of 5,681,622. Tractor Supply Company has a 1 year low of $46.85 and a 1 year high of $63.99. 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 stock has a market capitalization of $30.61 billion, a P/E ratio of 28.34, a price-to-earnings-growth ratio of 3.01 and a beta of 0.75. The company's fifty day simple moving average is $53.67 and its 200-day simple moving average is $53.47.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The specialty retailer reported $0.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.01. Tractor Supply had a net margin of 7.18% and a return on equity of 46.83%. The company had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.40 billion. During the same period last year, the firm posted $3.93 EPS. Tractor Supply's revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, research analysts predict that Tractor Supply Company will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date was Wednesday, May 28th. Tractor Supply's dividend payout ratio is presently 45.10%.

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.