Tractor Supply Company $TSCO Shares Sold by Hudson Bay Capital Management LP

Key Points

• Hudson Bay Capital Management LP trimmed its stake in Tractor Supply by 61.2% in Q3, selling 166,785 shares and leaving 105,772 shares worth about $6.02M, and corporate insiders have sold a total of 222,348 shares (~$11.96M) over the last three months, leaving insiders with 0.65% ownership.
• Tractor Supply missed quarterly expectations (EPS $0.43 vs. $0.46; revenue $3.90B vs. $4.03B), yet analysts maintain a "Moderate Buy" consensus with an average price target of $59.78 (15 Buys, 9 Holds, 1 Sell).

Hudson Bay Capital Management LP trimmed its stake in shares of Tractor Supply Company (NASDAQ:TSCO - Free Report) by 61.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 105,772 shares of the specialty retailer's stock after selling 166,785 shares during the period. Hudson Bay Capital Management LP's holdings in Tractor Supply were worth $6,015,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of TSCO. Financial Network Wealth Advisors LLC lifted its holdings in Tractor Supply by 8.0% in the third quarter. Financial Network Wealth Advisors LLC now owns 2,465 shares of the specialty retailer's stock valued at $140,000 after acquiring an additional 182 shares during the period. Perigon Wealth Management LLC grew its stake in shares of Tractor Supply by 0.6% during the 3rd quarter. Perigon Wealth Management LLC now owns 34,036 shares of the specialty retailer's stock worth $1,936,000 after purchasing an additional 200 shares during the period. Colonial Trust Advisors grew its stake in shares of Tractor Supply by 1.3% during the 2nd quarter. Colonial Trust Advisors now owns 16,489 shares of the specialty retailer's stock worth $870,000 after purchasing an additional 214 shares during the period. Vestmark Advisory Solutions Inc. increased its holdings in shares of Tractor Supply by 5.1% during the 3rd quarter. Vestmark Advisory Solutions Inc. now owns 4,514 shares of the specialty retailer's stock valued at $257,000 after purchasing an additional 218 shares in the last quarter. Finally, Johnson Investment Counsel Inc. increased its holdings in shares of Tractor Supply by 1.7% during the 3rd quarter. Johnson Investment Counsel Inc. now owns 12,771 shares of the specialty retailer's stock valued at $726,000 after purchasing an additional 219 shares in the last quarter. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on TSCO shares. Citigroup reissued a "buy" rating and set a $61.00 price target (down from $66.00) on shares of Tractor Supply in a report on Friday, January 16th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Tractor Supply in a report on Monday, December 29th. Mizuho decreased their price objective on shares of Tractor Supply from $65.00 to $58.00 and set an "outperform" rating for the company in a research report on Friday, January 30th. Stephens set a $53.00 target price on shares of Tractor Supply and gave the stock an "equal weight" rating in a research note on Thursday, January 22nd. Finally, Piper Sandler dropped their target price on Tractor Supply from $67.00 to $59.00 and set an "overweight" rating on the stock in a research report on Friday, January 30th. Fifteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $59.78.

Insiders Place Their Bets

In related news, CFO Kurt D. Barton sold 1,884 shares of the business's stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $53.81, for a total transaction of $101,378.04. Following the transaction, the chief financial officer directly owned 52,562 shares in the company, valued at approximately $2,828,361.22. The trade was a 3.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert D. Mills sold 62,950 shares of the company's stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $54.12, for a total transaction of $3,406,854.00. Following the sale, the executive vice president directly owned 122,834 shares of the company's stock, valued at approximately $6,647,776.08. This represents a 33.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 222,348 shares of company stock valued at $11,959,621. Corporate insiders own 0.65% of the company's stock.

Tractor Supply Stock Performance

NASDAQ TSCO opened at $45.77 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.34 and a quick ratio of 0.16. The stock's 50 day simple moving average is $51.86 and its 200-day simple moving average is $53.74. The company has a market cap of $24.09 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 2.31 and a beta of 0.72. Tractor Supply Company has a 1-year low of $45.45 and a 1-year high of $63.99.

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

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders 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 is a positive change from Tractor Supply's previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.1%. Tractor Supply's payout ratio is currently 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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