Tractor Supply Company $TSCO Holdings Lowered by Swiss National Bank

Key Points

• Swiss National Bank trimmed its stake in Tractor Supply by 5.0% in Q3 and now owns 1,528,400 shares (~0.29% of the company) valued at $86.92 million.
• Insiders have been net sellers: CEO Harry Lawton III sold 84,670 shares and CFO Kurt Barton sold 1,929 shares, with insiders offloading 222,348 shares worth $11.96 million in the past 90 days.
• Analysts and results: TSCO has a "Moderate Buy" consensus with a $59.78 target, but the company recently missed quarterly EPS ($0.43 vs. $0.46) and revenue estimates and raised its quarterly dividend to $0.24 (1.9% yield).

Swiss National Bank lowered its stake in Tractor Supply Company (NASDAQ:TSCO - Free Report) by 5.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,528,400 shares of the specialty retailer's stock after selling 79,700 shares during the quarter. Swiss National Bank owned approximately 0.29% of Tractor Supply worth $86,920,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Bison Wealth LLC grew its position in Tractor Supply by 356.1% during the 4th quarter. Bison Wealth LLC now owns 6,426 shares of the specialty retailer's stock worth $341,000 after purchasing an additional 5,017 shares in the last quarter. Woodline Partners LP grew its stake in Tractor Supply by 40.7% during the 1st quarter. Woodline Partners LP now owns 45,132 shares of the specialty retailer's stock valued at $2,487,000 after acquiring an additional 13,051 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of Tractor Supply by 26.9% in the 1st quarter. Intech Investment Management LLC now owns 26,162 shares of the specialty retailer's stock valued at $1,442,000 after purchasing an additional 5,542 shares during the period. Parkside Financial Bank & Trust boosted its holdings in shares of Tractor Supply by 99.7% during the second quarter. Parkside Financial Bank & Trust now owns 2,915 shares of the specialty retailer's stock worth $154,000 after purchasing an additional 1,455 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Tractor Supply by 5.1% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 999,424 shares of the specialty retailer's stock valued at $52,740,000 after buying an additional 48,210 shares during the period. 98.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on TSCO shares. Zacks Research downgraded shares of Tractor Supply from a "hold" rating to a "strong sell" rating in a research note on Monday, February 2nd. Wolfe Research reaffirmed an "outperform" rating and issued a $57.00 target price on shares of Tractor Supply in a research report on Friday, January 30th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Tractor Supply in a report on Monday, December 29th. Mizuho lowered their price target on Tractor Supply from $65.00 to $58.00 and set an "outperform" rating for the company in a research note on Friday, January 30th. Finally, Truist Financial set a $55.00 price objective on shares of Tractor Supply and gave the company a "hold" rating in a research report on Friday, January 16th. Fifteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Tractor Supply currently has an average rating of "Moderate Buy" and a consensus price target of $59.78.

Insider Buying and Selling

In other Tractor Supply news, CFO Kurt D. Barton sold 1,929 shares of Tractor Supply stock in a transaction on Friday, February 6th. The stock was sold at an average price of $53.94, for a total value of $104,050.26. Following the completion of the transaction, the chief financial officer owned 44,736 shares in the company, valued at approximately $2,413,059.84. The trade was a 4.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Harry A. Lawton III sold 84,670 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $53.16, for a total transaction of $4,501,057.20. Following the sale, the chief executive officer directly owned 606,842 shares in the company, valued at approximately $32,259,720.72. This represents a 12.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 222,348 shares of company stock valued at $11,959,621 in the last ninety days. 0.65% of the stock is owned by corporate insiders.

Tractor Supply Stock Down 0.7%

Shares of TSCO stock opened at $50.34 on Wednesday. Tractor Supply Company has a 12 month low of $46.85 and a 12 month high of $63.99. The stock has a 50 day moving average of $52.35 and a 200-day moving average of $54.44. The firm has a market cap of $26.50 billion, a PE ratio of 24.32, a price-to-earnings-growth ratio of 2.54 and a beta of 0.72. The company has a quick ratio of 0.16, a current ratio of 1.34 and a debt-to-equity ratio of 0.70.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The specialty retailer reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.03). The company had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $4.03 billion. Tractor Supply had a return on equity of 44.36% and a net margin of 7.06%.The business's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.44 EPS. On average, equities analysts predict that Tractor Supply Company will post 2.17 EPS for the current year.

Tractor Supply Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, February 24th. This represents a $0.96 annualized dividend and a yield of 1.9%. This is an increase from Tractor Supply's previous quarterly dividend of $0.23. Tractor Supply's payout ratio is 46.38%.

Tractor Supply Profile

Tractor Supply Company NASDAQ: TSCO is a specialty retailer focused on products for the home, farm, ranch and outdoors. The company operates a network of physical retail locations complemented by an e-commerce platform, offering a one-stop source of supplies and equipment for customers with rural and suburban lifestyles. Its merchandise assortment targets a range of needs, from animal and livestock care to maintenance, outdoor power equipment, and seasonal products.

Product categories include animal feed and supplies, pet products, fencing and fencing supplies, equine equipment, lawn and garden tools, work clothing and footwear, and small agricultural and outdoor power equipment.

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