Sumitomo Mitsui Trust Group Inc. Sells 54,601 Shares of Tractor Supply Company $TSCO

Key Points

• Sumitomo Mitsui Trust Group trimmed its stake in Tractor Supply by 4.4%, selling 54,601 shares and leaving it with 1,199,082 shares worth about $59.97 million (≈0.23% ownership).
• Tractor Supply missed quarterly estimates, reporting EPS of $0.43 vs. $0.46 expected and revenue of $3.90B vs. $4.03B, though revenue was up 3.3% year‑over‑year.
• The company raised its quarterly dividend to $0.24 (annualized $0.96, ~2.1% yield) while insiders sold 222,348 shares (~$11.96M) in the last quarter.

Sumitomo Mitsui Trust Group Inc. trimmed its stake in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) by 4.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,199,082 shares of the specialty retailer's stock after selling 54,601 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of Tractor Supply worth $59,966,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in TSCO. Aventura Private Wealth LLC bought a new position in Tractor Supply during the 4th quarter worth approximately $27,000. JPL Wealth Management LLC acquired a new position in shares of Tractor Supply in the 3rd quarter worth approximately $28,000. Flagship Harbor Advisors LLC bought a new stake in shares of Tractor Supply in the 4th quarter valued at $35,000. Clayton Financial Group LLC acquired a new stake in shares of Tractor Supply during the third quarter worth $44,000. Finally, First Horizon Corp acquired a new stake in shares of Tractor Supply during the third quarter worth $44,000. 98.72% of the stock is owned by institutional investors and hedge funds.

Tractor Supply Trading Down 0.9%

NASDAQ:TSCO opened at $45.02 on Wednesday. The company has a current ratio of 1.34, a quick ratio of 0.16 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $23.68 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 2.42 and a beta of 0.75. The firm has a fifty day simple moving average of $49.31 and a two-hundred day simple moving average of $51.97. Tractor Supply Company has a 12 month low of $43.23 and a 12 month high of $63.99.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The specialty retailer reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.03). The company had revenue of $3.90 billion for the quarter, compared to analyst estimates of $4.03 billion. Tractor Supply had a net margin of 7.06% and a return on equity of 44.36%. Tractor Supply's revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.44 EPS. Analysts expect that Tractor Supply Company will post 2.17 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th were paid a dividend of $0.24 per share. This is an increase from Tractor Supply's previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Tuesday, February 24th. This represents a $0.96 dividend on an annualized basis and a yield of 2.1%. Tractor Supply's dividend payout ratio (DPR) is currently 46.38%.

Insiders Place Their Bets

In other news, EVP Colin Yankee sold 11,170 shares of the company's stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $55.35, for a total transaction of $618,259.50. Following the transaction, the executive vice president directly owned 45,515 shares of the company's stock, valued at $2,519,255.25. This represents a 19.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jonathan S. Estep sold 59,745 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $54.03, for a total value of $3,228,022.35. Following the completion of the transaction, the executive vice president owned 80,931 shares in the company, valued at approximately $4,372,701.93. This represents a 42.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 222,348 shares of company stock valued at $11,959,621. 0.64% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on TSCO. UBS Group set a $55.00 target price on shares of Tractor Supply in a report on Friday, January 30th. Telsey Advisory Group lowered their price objective on Tractor Supply from $70.00 to $63.00 and set an "outperform" rating for the company in a research report on Thursday, January 29th. Jefferies Financial Group dropped their price objective on Tractor Supply from $63.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, January 30th. Stephens set a $53.00 target price on Tractor Supply and gave the company an "equal weight" rating in a research report on Thursday, January 22nd. Finally, Truist Financial set a $55.00 target price on Tractor Supply and gave the stock a "hold" rating in a research note on Friday, January 16th. Fourteen equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $58.09.

Tractor Supply Company Profile

Tractor Supply Company NASDAQ: TSCO is a specialty retailer focused on products for the home, farm, ranch and outdoors. The company operates a network of physical retail locations complemented by an e-commerce platform, offering a one-stop source of supplies and equipment for customers with rural and suburban lifestyles. Its merchandise assortment targets a range of needs, from animal and livestock care to maintenance, outdoor power equipment, and seasonal products.

Product categories include animal feed and supplies, pet products, fencing and fencing supplies, equine equipment, lawn and garden tools, work clothing and footwear, and small agricultural and outdoor power equipment.

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