Tractor Supply Company (NASDAQ:TSCO) Shares Sold by True North Advisors LLC

Key Points

• True North Advisors LLC reduced its stake in Tractor Supply Company by 19%, selling 10,971 shares for a total ownership of 46,710 shares valued at approximately $2.57 million.
• Tractor Supply recently reported earnings of $0.81 per share, exceeding analysts' expectations and a revenue of $4.44 billion, representing a 4.5% year-over-year increase.
• The company declared a quarterly dividend of $0.23 per share, with a dividend yield of 1.6%, to be paid on September 9th.

True North Advisors LLC reduced its position in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) by 19.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,710 shares of the specialty retailer's stock after selling 10,971 shares during the period. True North Advisors LLC's holdings in Tractor Supply were worth $2,574,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in TSCO. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Tractor Supply during the 4th quarter valued at approximately $2,005,000. FIL Ltd raised its position in shares of Tractor Supply by 542.0% during the 4th quarter. FIL Ltd now owns 139,925 shares of the specialty retailer's stock valued at $7,424,000 after acquiring an additional 118,130 shares in the last quarter. Bank of Nova Scotia raised its position in shares of Tractor Supply by 412.1% during the 4th quarter. Bank of Nova Scotia now owns 71,508 shares of the specialty retailer's stock valued at $3,794,000 after acquiring an additional 57,545 shares in the last quarter. Bessemer Group Inc. raised its position in shares of Tractor Supply by 400.5% during the 4th quarter. Bessemer Group Inc. now owns 102,752 shares of the specialty retailer's stock valued at $5,452,000 after acquiring an additional 82,223 shares in the last quarter. Finally, Scotia Capital Inc. grew its stake in Tractor Supply by 393.7% during the 4th quarter. Scotia Capital Inc. now owns 18,711 shares of the specialty retailer's stock worth $993,000 after buying an additional 14,921 shares during the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

Tractor Supply Stock Down 1.3%

Shares of Tractor Supply stock opened at $59.26 on Friday. The stock has a 50-day moving average price of $55.02 and a 200 day moving average price of $53.71. The company has a market cap of $31.42 billion, a P/E ratio of 29.08, a P/E/G ratio of 3.09 and a beta of 0.75. The company has a current ratio of 1.28, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. Tractor Supply Company has a 1 year low of $46.85 and a 1 year high of $63.99.

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

Tractor Supply Announces Dividend

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

Insider Activity at Tractor Supply

In other news, EVP Jonathan S. Estep sold 35,825 shares of the firm's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $56.00, for a total transaction 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 $4,177,880. This trade represents a 32.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Denise L. Jackson sold 1,165 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $58.50, for a total value of $68,152.50. Following the sale, the director directly owned 31,123 shares of the company's stock, valued at $1,820,695.50. This trade represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 207,490 shares of company stock worth $12,216,998. 0.65% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Robert W. Baird upped their price objective on Tractor Supply from $56.00 to $61.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Piper Sandler upped their price objective on Tractor Supply from $66.00 to $67.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. The Goldman Sachs Group restated a "buy" rating on shares of Tractor Supply in a research note on Friday, July 25th. UBS Group upped their price objective on Tractor Supply from $54.00 to $61.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Finally, Citigroup lowered their price objective on Tractor Supply from $59.00 to $51.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target 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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