Tractor Supply Company (NASDAQ:TSCO) Shares Sold by M&T Bank Corp

M&T Bank Corp lowered its position in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) by 12.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,344 shares of the specialty retailer's stock after selling 8,090 shares during the period. M&T Bank Corp's holdings in Tractor Supply were worth $3,105,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Wedmont Private Capital grew its stake in shares of Tractor Supply by 2.5% during the first quarter. Wedmont Private Capital now owns 8,714 shares of the specialty retailer's stock worth $450,000 after purchasing an additional 212 shares in the last quarter. Creative Financial Designs Inc. ADV grew its position in shares of Tractor Supply by 30.1% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 920 shares of the specialty retailer's stock valued at $51,000 after buying an additional 213 shares during the last quarter. Procyon Advisors LLC grew its position in shares of Tractor Supply by 1.7% in the 1st quarter. Procyon Advisors LLC now owns 14,371 shares of the specialty retailer's stock valued at $792,000 after buying an additional 238 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Tractor Supply by 5.5% in the 1st quarter. International Assets Investment Management LLC now owns 4,678 shares of the specialty retailer's stock valued at $258,000 after buying an additional 242 shares during the last quarter. Finally, Checchi Capital Advisers LLC grew its position in shares of Tractor Supply by 2.6% in the 1st quarter. Checchi Capital Advisers LLC now owns 10,785 shares of the specialty retailer's stock valued at $594,000 after buying an additional 270 shares during the last quarter. Institutional investors and hedge funds own 98.72% of the company's stock.

Tractor Supply Stock Down 1.1%

Shares of NASDAQ TSCO opened at $56.79 on Friday. The company has a quick ratio of 0.17, a current ratio of 1.41 and a debt-to-equity ratio of 0.94. Tractor Supply Company has a 52 week low of $46.85 and a 52 week high of $61.53. The firm has a 50-day moving average price of $52.05 and a 200 day moving average price of $53.09. The stock has a market capitalization of $30.11 billion, a price-to-earnings ratio of 28.20, a price-to-earnings-growth ratio of 3.09 and a beta of 0.75.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.03). Tractor Supply had a net margin of 7.24% and a return on equity of 47.56%. The company had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.55 billion. During the same quarter last year, the business earned $1.83 EPS. The firm's revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts anticipate that Tractor Supply Company will post 2.17 EPS for the current fiscal year.

Tractor Supply Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Wednesday, May 28th. Tractor Supply's dividend payout ratio (DPR) is 45.77%.

Insider Activity at Tractor Supply

In other Tractor Supply news, EVP Jonathan S. Estep sold 35,825 shares of the firm's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $56.00, for a total transaction of $2,006,200.00. Following the completion of the transaction, the executive vice president directly owned 74,605 shares in the company, valued at approximately $4,177,880. This trade represents a 32.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Denise L. Jackson sold 1,000 shares of the firm's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $57.00, for a total transaction of $57,000.00. Following the transaction, the director owned 34,288 shares of the company's stock, valued at $1,954,416. This trade represents a 2.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 102,445 shares of company stock worth $5,554,242 over the last 90 days. Company insiders own 0.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on TSCO shares. Mizuho dropped their target price on shares of Tractor Supply from $62.00 to $58.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. UBS Group set a $54.00 target price on shares of Tractor Supply in a research report on Friday, April 25th. Robert W. Baird dropped their target price on shares of Tractor Supply from $63.00 to $56.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Citigroup dropped their target price on shares of Tractor Supply from $59.00 to $51.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. Finally, Raymond James Financial dropped their target price on shares of Tractor Supply from $61.00 to $57.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Tractor Supply presently has an average rating of "Moderate Buy" and an average price target of $58.02.

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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