Tractor Supply Company (NASDAQ:TSCO) Shares Sold by Mutual of America Capital Management LLC

Key Points

• Mutual of America Capital Management LLC has reduced its stake in Tractor Supply Company by 9.6% during the first quarter, now owning 121,057 shares worth approximately $6.67 million.
• Tractor Supply recently announced a quarterly dividend of $0.23 per share, with a payout ratio of 45.10% and an annualized yield of 1.5%.
• Analysts have raised their price targets for Tractor Supply, with a consensus target now set at $61.80 and a majority rating of "Moderate Buy" by nine research analysts.

Mutual of America Capital Management LLC decreased its holdings in Tractor Supply Company (NASDAQ:TSCO - Free Report) by 9.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 121,057 shares of the specialty retailer's stock after selling 12,826 shares during the period. Mutual of America Capital Management LLC's holdings in Tractor Supply were worth $6,670,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Coppell Advisory Solutions LLC increased its holdings 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 during the last quarter. Dunhill Financial LLC increased its holdings 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 during the last quarter. Pacific Center for Financial Services increased its holdings 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 during the last quarter. LRI Investments LLC increased its holdings in shares of Tractor Supply by 400.0% during 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 during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in shares of Tractor Supply during the 1st quarter worth approximately $39,000. Institutional investors and hedge funds own 98.72% of the company's stock.

Tractor Supply Stock Performance

TSCO traded down $0.76 on Friday, reaching $59.26. The company had a trading volume of 3,277,404 shares, compared to its average volume of 5,958,622. Tractor Supply Company has a 1 year low of $46.85 and a 1 year high of $63.99. The stock has a market capitalization of $31.42 billion, a PE ratio of 29.08, a P/E/G ratio of 3.09 and a beta of 0.75. 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 has a 50-day moving average price of $55.02 and a 200-day moving average price of $53.71.

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

Tractor Supply Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Monday, August 25th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, August 25th. Tractor Supply's dividend payout ratio is presently 45.10%.

Analyst Upgrades and Downgrades

TSCO has been the subject of several research reports. Truist Financial lifted their target price on shares of Tractor Supply from $60.00 to $66.00 and gave the company a "buy" rating in a report on Friday, July 25th. Wells Fargo & Company lifted their target price on shares of Tractor Supply from $63.00 to $65.00 and gave the company an "overweight" rating in a report on Friday, July 25th. DA Davidson lifted their target price on shares of Tractor Supply from $65.00 to $70.00 and gave the company a "buy" rating in a report on Friday, July 25th. Mizuho dropped their price target on shares of Tractor Supply from $62.00 to $58.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Finally, Bank of America upgraded shares of Tractor Supply from an "underperform" rating to a "buy" rating and set a $70.00 price target for the company in a research note on Thursday, July 24th. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Tractor Supply currently has an average rating of "Moderate Buy" and an average target price of $61.80.

Insiders Place Their Bets

In other news, EVP Jonathan S. Estep sold 35,825 shares of the company's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $56.00, for a total value of $2,006,200.00. Following the completion of the sale, the executive vice president directly owned 74,605 shares of the company's stock, valued at approximately $4,177,880. This represents a 32.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Noni L. Ellison sold 5,200 shares of the stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $63.96, for a total transaction of $332,592.00. Following the transaction, the senior vice president directly owned 28,639 shares of the company's stock, valued at $1,831,750.44. This represents a 15.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 207,490 shares of company stock valued at $12,216,998. 0.65% of the stock is owned by insiders.

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.