Sumitomo Mitsui Trust Group Inc. Trims Stock Position in Tractor Supply Company (NASDAQ:TSCO)

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) by 1.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,219,405 shares of the specialty retailer's stock after selling 12,460 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of Tractor Supply worth $67,189,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Smithfield Trust Co raised its stake in Tractor Supply by 286.2% during the 4th quarter. Smithfield Trust Co now owns 475 shares of the specialty retailer's stock valued at $25,000 after acquiring an additional 352 shares during the last quarter. Coppell Advisory Solutions LLC raised its stake in shares of Tractor Supply by 944.4% during the 4th quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer's stock worth $25,000 after buying an additional 425 shares in the last quarter. Whittier Trust Co. raised its stake in shares of Tractor Supply by 400.0% during the 4th quarter. Whittier Trust Co. now owns 500 shares of the specialty retailer's stock worth $27,000 after buying an additional 400 shares in the last quarter. Dunhill Financial LLC raised its stake in shares of Tractor Supply by 325.8% during the 4th quarter. Dunhill Financial LLC now owns 511 shares of the specialty retailer's stock worth $27,000 after buying an additional 391 shares in the last quarter. Finally, Pacific Center for Financial Services raised its stake in shares of Tractor Supply by 400.0% during the 4th quarter. Pacific Center for Financial Services now owns 550 shares of the specialty retailer's stock worth $29,000 after buying an additional 440 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.

Tractor Supply Price Performance

Shares of NASDAQ:TSCO opened at $52.77 on Tuesday. The business's fifty day moving average price is $50.99 and its two-hundred day moving average price is $52.96. The stock has a market cap of $27.98 billion, a PE ratio of 26.20, a price-to-earnings-growth ratio of 2.78 and a beta of 0.74. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.17 and a current ratio of 1.41. Tractor Supply Company has a one year low of $46.85 and a one year high of $61.53.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.03). Tractor Supply had a return on equity of 47.56% and a net margin of 7.24%. The business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.55 billion. During the same quarter last year, the business earned $1.83 EPS. Tractor Supply's revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts forecast that Tractor Supply Company will post 2.17 EPS 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. This represents a $0.92 annualized dividend and a dividend yield of 1.74%. The ex-dividend date was Wednesday, May 28th. Tractor Supply's dividend payout ratio (DPR) is 45.77%.

Wall Street Analysts Forecast Growth

TSCO has been the subject 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 for the company in a research note on Friday, April 25th. UBS Group set a $54.00 target price on Tractor Supply in a research note on Friday, April 25th. Wall Street Zen downgraded Tractor Supply from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. Telsey Advisory Group set a $60.00 price target on Tractor Supply in a report on Friday, April 25th. Finally, Stephens assumed coverage on Tractor Supply in a report on Wednesday, April 9th. They issued an "equal weight" rating and a $56.00 price target on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Tractor Supply presently has a consensus rating of "Moderate Buy" and a consensus price target of $58.02.

Insider Buying and Selling at Tractor Supply

In other news, EVP Jonathan S. Estep sold 56,630 shares of the firm's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $53.00, for a total transaction of $3,001,390.00. Following the sale, the executive vice president owned 74,605 shares in the company, valued at $3,954,065. This trade represents a 43.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Matthew L. Rubin sold 2,810 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $51.76, for a total value of $145,445.60. Following the sale, the senior vice president owned 29,722 shares in the company, valued at $1,538,410.72. This trade represents a 8.64% decrease in their position. The disclosure for this sale can be found here. 0.65% of the stock is owned by company insiders.

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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