Tractor Supply Company (NASDAQ:TSCO) Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. reduced its stake in Tractor Supply Company by 23%, selling over 2 million shares, which brought its holdings to approximately 6.75 million shares valued at around $371.9 million.
• Tractor Supply reported earnings of $0.81 per share, slightly exceeding analyst expectations, with quarterly revenue of $4.44 billion, a 4.5% year-over-year increase.
• The company announced a quarterly dividend of $0.23 per share, set to be paid on September 9th, with an annualized yield of 1.5%.

Invesco Ltd. lessened its holdings in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) by 23.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 6,749,851 shares of the specialty retailer's stock after selling 2,016,373 shares during the quarter. Invesco Ltd. owned about 1.27% of Tractor Supply worth $371,917,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Coppell Advisory Solutions LLC boosted its position in 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 acquiring an additional 425 shares during the period. GW&K Investment Management LLC raised its stake in shares of Tractor Supply by 89.3% in the 1st quarter. GW&K Investment Management LLC now owns 479 shares of the specialty retailer's stock worth $26,000 after buying an additional 226 shares in the last quarter. Dunhill Financial LLC raised its stake in shares of Tractor Supply by 325.8% in 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. Pacific Center for Financial Services raised its stake in shares of Tractor Supply by 400.0% in 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. Finally, LRI Investments LLC raised its stake in shares of Tractor Supply by 400.0% in the 4th quarter. LRI Investments LLC now owns 615 shares of the specialty retailer's stock worth $33,000 after buying an additional 492 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company's stock.

Tractor Supply Stock Up 0.5%

NASDAQ:TSCO opened at $59.53 on Tuesday. The firm has a market capitalization of $31.55 billion, a price-to-earnings ratio of 29.21, a PEG ratio of 3.05 and a beta of 0.75. Tractor Supply Company has a 1-year low of $46.85 and a 1-year high of $63.99. The company has a current ratio of 1.28, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The business's fifty day moving average price is $55.25 and its 200 day moving average price is $53.67.

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 for the quarter, beating 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 firm had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.40 billion. During the same period in the previous year, the firm earned $3.93 earnings per share. Tractor Supply's quarterly revenue was up 4.5% on a year-over-year basis. On average, sell-side analysts forecast that Tractor Supply Company will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Monday, August 25th will be paid a $0.23 dividend. The ex-dividend date is Monday, August 25th. This represents a $0.92 dividend on an annualized basis and a yield of 1.5%. Tractor Supply's payout ratio is 45.10%.

Insider Transactions at Tractor Supply

In other Tractor Supply news, EVP Colin Yankee sold 6,680 shares of the business's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $58.40, for a total value of $390,112.00. Following the transaction, the executive vice president owned 40,142 shares in the company, valued at $2,344,292.80. The trade was a 14.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Noni L. Ellison sold 5,200 shares of the business's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $63.96, for a total value of $332,592.00. Following the completion of the transaction, the senior vice president owned 28,639 shares in the company, valued at $1,831,750.44. This trade represents a 15.37% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 207,490 shares of company stock valued at $12,216,998. Corporate insiders own 0.65% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Wall Street Zen raised Tractor Supply from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Telsey Advisory Group set a $70.00 price objective on Tractor Supply in a research note on Friday, July 25th. JPMorgan Chase & Co. boosted their price objective on Tractor Supply from $56.00 to $65.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Citigroup dropped 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. Finally, Guggenheim dropped their price objective on Tractor Supply from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $61.80.

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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