TD Asset Management Inc Decreases Stake in Tractor Supply Company (NASDAQ:TSCO)

Key Points

• TD Asset Management Inc has reduced its stake in Tractor Supply Company by 46.7%, selling 234,376 shares and retaining 267,417 shares worth approximately $14.73 million.
• Insider trading activity includes significant sales by senior executives, with CFO Kurt D. Barton selling 90,000 shares for over $5.75 million, marking a 65.35% decrease in his ownership.
• Analysts have mixed opinions on Tractor Supply, with Telsey Advisory Group setting a price target of $70.00 and eight analysts giving the stock a “hold” rating.

TD Asset Management Inc decreased its holdings in Tractor Supply Company (NASDAQ:TSCO - Free Report) by 46.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 267,417 shares of the specialty retailer's stock after selling 234,376 shares during the quarter. TD Asset Management Inc owned about 0.05% of Tractor Supply worth $14,735,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Coppell Advisory Solutions LLC increased its holdings in shares of Tractor Supply by 944.4% during the fourth quarter. Coppell Advisory Solutions LLC now owns 470 shares of the specialty retailer's stock valued at $25,000 after acquiring an additional 425 shares in the last quarter. GW&K Investment Management LLC increased its holdings in shares of Tractor Supply by 89.3% during the first quarter. GW&K Investment Management LLC now owns 479 shares of the specialty retailer's stock valued at $26,000 after acquiring an additional 226 shares in the last quarter. Dunhill Financial LLC increased its holdings in shares of Tractor Supply by 325.8% during the fourth quarter. Dunhill Financial LLC now owns 511 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 391 shares in the last quarter. Pacific Center for Financial Services increased its holdings in shares of Tractor Supply by 400.0% during the fourth quarter. Pacific Center for Financial Services now owns 550 shares of the specialty retailer's stock valued at $29,000 after acquiring an additional 440 shares in the last quarter. Finally, LRI Investments LLC increased its holdings in shares of Tractor Supply by 400.0% during the fourth quarter. LRI Investments LLC now owns 615 shares of the specialty retailer's stock valued at $33,000 after acquiring an additional 492 shares in the last quarter. Institutional investors own 98.72% of the company's stock.

Insider Activity at Tractor Supply

In other news, Director Denise L. Jackson sold 4,630 shares of the business's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $55.93, for a total value of $258,955.90. Following the transaction, the director directly owned 35,288 shares in the company, valued at $1,973,657.84. The trade was a 11.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jonathan S. Estep sold 56,630 shares of the business's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $53.00, for a total value of $3,001,390.00. Following the completion of the transaction, the executive vice president owned 74,605 shares in the company, valued at $3,954,065. The trade was a 43.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 207,490 shares of company stock worth $12,216,998 in the last 90 days. Company insiders own 0.65% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TSCO shares. Raymond James Financial restated an "outperform" rating and set a $65.00 price target (up from $57.00) on shares of Tractor Supply in a report on Friday, July 25th. Piper Sandler raised their price target on Tractor Supply from $66.00 to $67.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Loop Capital raised their price target on Tractor Supply from $48.00 to $60.00 and gave the company a "hold" rating in a report on Friday, July 25th. Mizuho dropped their price objective on Tractor Supply from $62.00 to $58.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Finally, DA Davidson increased their price objective on Tractor Supply from $65.00 to $70.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $61.80.

Tractor Supply Stock Performance

NASDAQ:TSCO traded up $0.68 during mid-day trading on Friday, hitting $57.63. 5,505,274 shares of the company traded hands, compared to its average volume of 6,097,455. The company has a quick ratio of 0.16, a current ratio of 1.28 and a debt-to-equity ratio of 0.68. The stock's fifty day moving average price is $53.97 and its 200-day moving average price is $53.52. The firm has a market cap of $30.56 billion, a price-to-earnings ratio of 28.28, a price-to-earnings-growth ratio of 2.93 and a beta of 0.75. Tractor Supply Company has a one year low of $46.85 and a one year high of $63.99.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The specialty retailer reported $0.81 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.01. Tractor Supply had a return on equity of 46.83% and a net margin of 7.18%. The firm had revenue of $4.44 billion for the quarter, compared to analysts' expectations of $4.40 billion. During the same period in the previous year, the firm earned $3.93 EPS. The business's quarterly revenue was up 4.5% on a year-over-year basis. Research analysts anticipate that Tractor Supply Company will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were paid 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 dividend yield of 1.6%. Tractor Supply's payout ratio is 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.